Paul Krugman

@paulkrugman ↗

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Last Checked Nov. 6, 2021

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Tue Sep 21 17:37:57 +0000 2021

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Paul Krugman @paulkrugman

What I mean is that the financial disruption of 2008-9 was fairly brief — but the economy stayed depressed for many years thereafter, suggesting that the liquidity crisis was less of the story than longer-term factors 3/ https://t.co/3I0c7oe6GC — PolitiTweet.org

Posted Sept. 21, 2021

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Paul Krugman @paulkrugman

There seems to be a broad consensus that while bad, this isn't China's Lehman moment. Of course, broad consensuses have been wrong a lot these past 15 years. But here's the thing: even the Lehman moment wasn't really a Lehman moment 2/ — PolitiTweet.org

Posted Sept. 21, 2021

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Paul Krugman @paulkrugman

In retrospect, there's a good case that the reason the bursting of the housing bubble seemed to matter so much was that it was masking an underlying problem of secular stagnation. The same might be said of Japan's real estate-stock bubble of the late 1980s 4/ — PolitiTweet.org

Posted Sept. 21, 2021