Paul Krugman

@paulkrugman ↗

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Last Checked Sept. 15, 2020

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Wed Aug 19 13:20:22 +0000 2020

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Paul Krugman @paulkrugman

That is, how much should an expected dollar of FAANG profits 5 years from now be worth today? That depends on the returns on alternative assets — like, say, inflation-protected government bonds. And those returns are at record lows 4/ https://t.co/B2HM85FRLK — PolitiTweet.org

Posted Aug. 19, 2020

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Paul Krugman @paulkrugman

What affects this discounted value? The expected state of the economy over the next few quarters *shouldn't* matter much, as long as we're eventually going to recover. What should matter a lot, however, is the discount rate 3/ — PolitiTweet.org

Posted Aug. 19, 2020

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Paul Krugman @paulkrugman

So even if you think 2020-21 is going to be lousy, if you think Amazon will be making money in 2025— and your alternative is govt bonds that yield 1% less than inflation — buying Amazon isn't that strange 5/ — PolitiTweet.org

Posted Aug. 19, 2020