Paul Krugman

@paulkrugman ↗

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Tue Nov 23 18:20:50 +0000 2021

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Paul Krugman @paulkrugman

What the data actually show is that the US, which has done more fiscal stimulus than Europe, also has higher inflation. More careful people than Rattner have cited this as evidence that fiscal did it. But with only 2 data points, need to observe that other things are going on 2/ — PolitiTweet.org

Posted Nov. 23, 2021

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Paul Krugman @paulkrugman

As Arin says, Rattner committed chartcrime here. But there's a larger issue 1/ https://t.co/rizTYMOdb3 — PolitiTweet.org

I usually wouldn't comment on a N=8 scatterplot, but this particular example turns out to be very useful pedagogica… https://t.co/CbvtjhXOqt

Posted Nov. 23, 2021

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Paul Krugman @paulkrugman

Europe came in to this with lower inflation than we did — ECB was less successful at achieving a 2% target. This baseline effect accounts for part of the difference 3/ — PolitiTweet.org

Posted Nov. 23, 2021