A Nobel Prize-winning economist has criticized President Donald Trump’s “false” claims about the state of the U.S. economy in a new Substack essay published on Sunday.

Paul Krugman, who won the 2008 Nobel Prize in economics for his work on trade theory, argued that Trump is “simply lying” about the economy’s condition. While data indicate that the economy is faring better than popular sentiment might suggest, Krugman highlighted several warning signs — including the continued rise in grocery prices.

“Donald Trump continues to claim that grocery prices are ‘way down,’” Krugman wrote. “Yet anyone who does their own food shopping unlike Trump — can tell you that Trump’s statement is false.”

Krugman further explained that Trump’s economy has created what’s known as a “vibecession” — an economy that feels like it’s in a recession to consumers even if the economic data doesn’t support that conclusion.

“Many observers have compared Trump’s predicament with the problems faced by the Biden administration, whose attempts to highlight good economic data alienated many voters who felt their concerns weren’t being taken seriously,” Krugman added.

“In one important way this is false equivalence: Biden and his officials were pointing to actual data that did indeed seem to paint a relatively positive picture of the economy. Trump and company, by contrast, are simply lying.

“But although Biden and his people were honest, while Trump and his people aren’t, it’s true that we now have two presidencies in a row in which Americans are far more negative about the economy than the usual measures would have predicted,” he concluded.
https://www.rawstory.com/trump-2674300425/