Paul Krugman

@paulkrugman ↗

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Last Checked April 3, 2022

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Sat Feb 19 14:33:11 +0000 2022

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Paul Krugman @paulkrugman

People should really be reading James Tobin, who was clear about all this stuff almost 60 years ago. There's unjustified mysticism about assets that are formally considered "money" 5/ https://t.co/cMOwlspd1a — PolitiTweet.org

Posted Feb. 19, 2022

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Paul Krugman @paulkrugman

That's silly, you say: the growth in Pelotons reflects demand, not supply, and there's no mechanism by which stationary bikes feed directly into inflation. But the same is true of M2! 4/ — PolitiTweet.org

Posted Feb. 19, 2022

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Paul Krugman @paulkrugman

Monetary policy matters; monetary aggregates, not so much, and they're not helpful at all as indicators during times of extraordinary economic stress 6/ — PolitiTweet.org

Posted Feb. 19, 2022