Paul Krugman

@paulkrugman ↗

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Last Checked July 9, 2021

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Fri May 01 13:21:35 +0000 2020

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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

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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

But the Fed rode to the rescue, with massive asset purchases that contained the losses. The incipient financial crisis faded away, while low interest rates continued to give stocks a boost 7/ https://t.co/32TG3ID2Mz — PolitiTweet.org

Posted May 1, 2020 Hibernated