From WNYC Studios. I'm Brian Lehrer. This is my daily politics podcast. It's Thursday, February 5th.

The trend being reported by multiple market watchers that's being labeled, sell America.

Sell America.

The implications could be huge for average Americans' finances if this continues.

For example, the U.S. dollar has been one of the world's default safe bets.

Most of you probably know that.

And U.S. treasury bonds have been treated as about as close to risk-free

as an investment can get. But lately, a mix of signals are making investors uneasy, even about

treasury bonds and the dollar. The dollar has weakened over the last 12 months since the Trump

administration took office. Borrowing costs

have been rising, including treasury bonds, and gold prices have surged, which is usually in response

to those things. So why sell America? Well, tariff policy, questions about the independence

of the Fed, concerns about

political instability generally have given investors around the world cause to begin to diversify

more than before away from the United States. So let's talk about what's happening. We're

going to get a view from none other than Paul Krugman, Nobel laureate

in economics, former New York Times columnist, now on Substack, Distinguished Professor at the City

University of New York Graduate Center and author of the book, arguing with zombies,

economics, politics, and the fight for a better future. Dr. Krugman, we always learn when you

come on. Thank you for joining us today. Thanks for a better future. Dr. Krickman, we always learn when you come on. Thank you for joining us

today. Thanks for having me on. Is sell America a real thing or a media and pundit thing?

It's real. You don't want to get carried away. We're not yet, you know, I think yet may be the

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