Paul Krugman

@paulkrugman ↗

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Last Checked May 29, 2020

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Sun Apr 07 14:57:18 +0000 2019

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Paul Krugman @paulkrugman

Gold prices did hit one peak circa 1980, when inflation was high. But they revisited that peak in 2011, when inflation was low. This means, among other things, that a gold standard would have forced monetary tightening right at the depths of the Great Recession 5/ — PolitiTweet.org

Posted April 7, 2019 Hibernated

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Paul Krugman @paulkrugman

Meanwhile, the idea that gold is a hedge against inflation, and thus that a gold standard would be stabilizing in some sense, runs against recent experience. Here's the real price of gold versus inflation 4/ https://t.co/BE8Xk6eGoZ — PolitiTweet.org

Posted April 7, 2019 Hibernated

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Paul Krugman @paulkrugman

There is, it turns, out, a reason gold doesn't do what goldbugs think it does: the gold price isn't driven by inflation, but by real interest rates -- the return on alternative assets. These seemed low in the late 70s because unexpected inflation was eroding real returns 6/ — PolitiTweet.org

Posted April 7, 2019 Hibernated