Paul Krugman

@paulkrugman ↗

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Last Checked Feb. 23, 2022

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Wed Jan 26 13:12:22 +0000 2022

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Paul Krugman @paulkrugman

For comparison, post-2006 housing bust wiped out wealth = ~60 percent of US GDP 4/ https://t.co/2lYIqfPSt9 — PolitiTweet.org

Posted Jan. 26, 2022

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Paul Krugman @paulkrugman

Still, it's a big world out there. $1.5 trillion is about 7% of US GDP, and many of the losses falling on residents of other countries 3/ — PolitiTweet.org

Posted Jan. 26, 2022

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Paul Krugman @paulkrugman

Also, coin mining, although environmentally destructive and a big stress on some national energy markets, is still a fairly small economic activity. If I'm reading the numbers right, around 800K bitcoins mined in 2021; at $50K each, that's around 0.2% of US GDP 5/ — PolitiTweet.org

Posted Jan. 26, 2022