Paul Krugman

@paulkrugman ↗

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Last Checked July 9, 2021

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Fri May 01 13:17:58 +0000 2020

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Paul Krugman @paulkrugman

So what was that March plunge about? For a little while we were on the edge of a major financial crisis. Some companies will very likely go under bc of Covid-19, and there was financial contagion to the rest of the corporate bond market 5/ https://t.co/Gcibh4wjtY — PolitiTweet.org

Posted May 1, 2020 Hibernated

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Paul Krugman @paulkrugman

So imagine a company you expect to have fairly steady profits over the long term. The price of that stock should move like bond prices — that is, it should be way up. Even given adverse impacts of the virus, fairly strong stock prices not really a surprise 4/ — PolitiTweet.org

Posted May 1, 2020 Hibernated

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Paul Krugman @paulkrugman

The best story for that, I think, is the old Shleifer-Vishny 1997 point: even though some corporate debt was clearly undervalued, big losses depleted the capital of firms that would normally bid up the price of that debt 6/ https://t.co/7gp6YZ1lV6 — PolitiTweet.org

Posted May 1, 2020 Hibernated