Paul Krugman

@paulkrugman ↗

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Last Checked Dec. 8, 2022

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Thu Oct 27 12:59:42 +0000 2022

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Paul Krugman @paulkrugman

So there's probably a significant amount of housing contraction still ahead. And real net exports were actually less negative in 2022Q3 than in 2022Q4; this isn't sustainable given the surging dollar, which will hit trade flows but with a long lag 4/ — PolitiTweet.org

Posted Oct. 27, 2022

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Paul Krugman @paulkrugman

It's useful to compare the latest numbers with 2021Q4, before the tightening began. Real residential investment is down 12.5%, not trivial but still fairly small given the surge in mortgage rates and the collapse in mortgage applications 3/ https://t.co/Ve3FrougOb — PolitiTweet.org

Posted Oct. 27, 2022

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Paul Krugman @paulkrugman

So while this report made all the people who screamed "recession!" look as foolish and partisan as they were, it was not, if you look under the hood, a sign that the worst is over. I hope the Fed is paying attention 5/ — PolitiTweet.org

Posted Oct. 27, 2022