KRUGMAN: Trump will turn America into an 'all-out kleptocracy' like Russia and Ukraine

Paul krugmanJeff Zelevansky/Getty ImagesNobel-winning economist Paul Krugman

Paul Krugman, the Nobel-winning economist and New York Times columnist, once again bemoaned the economic and political future of the US under President-elect Donald Trump in a series of Tuesday tweets.

This time, Krugman took aim at both Trump’s transition team and the infrastructure plan that the president-elect has proposed.

Krugman implied that the $550 billion infrastructure plan (which has been reduced from a $1 trillion proposal during the campaign) using both private and public investment that Trump has proposed would be used to enrich Trump and his friends. The plan calls for equity investments from private companies that are then given tax cuts and ownership stakes in the final product.

Thus, in Krugman’s and other analysts’ eyes, this would turn large-scale infrastructure investments like bridges and airports that have long been owned by the government into private projects.

“His transition team is basically all lobbyists and his infrastructure plan, such as it is, sounds as if it’s going to be largely about privatizing public assets,” tweeted Krugman.

The economist said the inclusion of lobbyists within his transition team and fact that Trump has only passed control of his businesses to his children shows that he “won’t separate himself from his business interests.” Thus, Krugman said, Trump would use these private infrastructure contracts to enrich himself or people with whom he is associated.

“In short, we’re almost surely looking at all-out kleptocracy, along the lines of what happened in Russia or Ukraine. Strange, isn’t it?” said Krugman. “After all, it’s not as if we’ve just empowered the same people who stole all those assets abroad.”

Here’s the full tweetstorm: 






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