Paul Krugman

@paulkrugman ↗

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Last Checked Nov. 21, 2022

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Wed Sep 02 12:04:15 +0000 2020

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Paul Krugman @paulkrugman

And of course that's a good description of the tech giants whose stocks have soared most. So a good guess is that at least part of what's going on is that long-term pessimism has reduced interest rates, and this has *increased* the value of stocks issued by monopolists 7/ — PolitiTweet.org

Posted Sept. 2, 2020 Hibernated

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Paul Krugman @paulkrugman

But this assumes that profits are a return to physical capital — which in some industries they are. But what if they're largely rents reflecting some kind of monopoly position? Then lower interest rates won't lead to investment that reduces these rents. 6/ — PolitiTweet.org

Posted Sept. 2, 2020

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Paul Krugman @paulkrugman

ADP (unofficial private payroll estimate) has had a bad track record lately, but this latest looks like a lot of other data suggesting a reverse-square-root recovery: rapid gains for a couple of months, much slower since 1/ https://t.co/2ZLFrZGpdE — PolitiTweet.org

Posted Sept. 2, 2020 Hibernated