Paul Krugman

Paul Krugman @paulkrugman

When you buy a stock, you're buying a claim on a stream of future profits, which is something like buying a bond. In fact, bond ETFs literally are an indirect way of buying bonds — and they're way up 2/ — PolitiTweet.org

Paul Krugman @paulkrugman

Imagine a company whose profits you didn't expect to be significantly hurt by Covid-19; you'd expect a similar rise in its share price. So even companies that will be hit could see gains simply bc of low rates 4/ — PolitiTweet.org