Paul Krugman

@paulkrugman ↗

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Last Checked Sept. 23, 2020

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Wed Sep 02 11:58:45 +0000 2020

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Paul Krugman @paulkrugman

Now, traditionally we would expect the effect of low alternative yields on stock valuations to be dampened. Why? Tobin's q, which has nothing to do either with conspiracy theories or with this guy 4/ https://t.co/8B0F83KVoc — PolitiTweet.org

Posted Sept. 2, 2020

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Paul Krugman @paulkrugman

This interest plunge, incidentally, basically reflects long-term economic pessimism. So in a perverse way strong stocks may in part result from *bad* economic prospects 3/ — PolitiTweet.org

Posted Sept. 2, 2020

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Paul Krugman @paulkrugman

Instead, the argument is that higher valuations relative to the replacement cost of capital will induce investment, which drives returns down over time. And markets will supposedly take those future effects into account, limiting the initial rise 5/ — PolitiTweet.org

Posted Sept. 2, 2020