Paul Krugman

@paulkrugman ↗

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Last Checked Sept. 2, 2021

Created

Thu Jun 11 16:33:41 +0000 2020

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Paul Krugman @paulkrugman

It seems to have been driven by small investors who tuned out all the warnings that the coronavirus was by no means under control, that we'd face a severe fiscal shock when emergency aid expired and local governments hit the wall 3/ — PolitiTweet.org

Posted June 11, 2020 Hibernated

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Paul Krugman @paulkrugman

Fwiw, I thought the market surge from late March to mid- April made a fair bit of sense. We almost had a financial meltdown in March, but the Fed contained it, so a rebound from those lows was reasonable. But the more recent runup was different 2/ — PolitiTweet.org

Posted June 11, 2020 Hibernated

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Paul Krugman @paulkrugman

Maybe those warnings have gained some strength over the past week. But this looks mainly like a Wile E. Coyote moment: exuberant investors looked down, realized that there was nothing supporting their euphoria, and down we went 4/ — PolitiTweet.org

Posted June 11, 2020 Hibernated