Paul Krugman

Paul Krugman @paulkrugman

In a normal recession, people postpone purchases of physical stuff while continuing to consume services 2/ https://t.co/m2KZfNvFtY — PolitiTweet.org

Paul Krugman @paulkrugman

Liked this Neil Irwin piece on uneven recovery; thought I might add a couple of charts illustrating the weirdness 1/ https://t.co/c6vTZ9ndLW — PolitiTweet.org

Paul Krugman @paulkrugman

Role reversal? But one party is making sense, while the other ... isn't https://t.co/aEUEDywOsw — PolitiTweet.org

Paul Krugman @paulkrugman

That was the inflation scare that was? Dallas Fed "trimmed mean" inflation, arguably a much better measure of underlying inflation than conventional core, seems to have peaked and maybe be subsiding https://t.co/dmgs2Z2a9w — PolitiTweet.org

Paul Krugman @paulkrugman

RT @JohnJHarwood: in the name of stopping "socialist healthcare schemes," member of Republican leadership celebrates programs conservative… — PolitiTweet.org

Paul Krugman @paulkrugman

But, but Tucker Carlson says she's stupid. — PolitiTweet.org

Paul Krugman @paulkrugman

New York has 970 people hospitalized with Covid-19; Florida has 7,763. Politics is driving this crisis https://t.co/SUTeDdYg6O — PolitiTweet.org

Paul Krugman @paulkrugman

Anyway, GOP is Keynesian when it suits them. Surprise 6/ — PolitiTweet.org

Paul Krugman @paulkrugman

Cumulative over the next decade is $295 trillion. So even a $4T plan is only slightly over 1% of pot GDP. And largely paid for, although many of the pay-fors look like vaporware. Still, overall fiscal impulse not big 5/ — PolitiTweet.org

Paul Krugman @paulkrugman

Now, Rs haven't done the math (surprise). Even if purely debt-financed, the Biden plans wouldn't be all that big a stimulus. Here's potential GDP as predicted by CBO 4/ https://t.co/YiCp5RuGe4 — PolitiTweet.org

Paul Krugman @paulkrugman

Meanwhile Dems are arguing that things like child care will expand the labor supply and other policies will raise productivity 3/ — PolitiTweet.org

Paul Krugman @paulkrugman

That is, Rs are warning that infrastructure etc spending will boost demand and cause the economy to overheat — a 180 from their former position that stimulus is ineffective. 2/ — PolitiTweet.org

Paul Krugman @paulkrugman

This is a very good piece by Tankersley; one thing it didn't point out is that right now Republicans are being Keynesian while Dems are supply-siders 1/ https://t.co/COhUe8gqgb — PolitiTweet.org

Paul Krugman @paulkrugman

Also, live shot of my research assistant at work 2/ https://t.co/GFQfFdahHC — PolitiTweet.org

Paul Krugman @paulkrugman

Beware politicians who talk values instead of offering real solutions 1/ https://t.co/A1JcY3S4Fj — PolitiTweet.org

Paul Krugman @paulkrugman

So the economic case for pro-natalism is really weak — so you're left with some kind of "family values" argument (I mean, look at how fatherhood has mellowed and matured Donald Trump) or, not-so-hidden subtext, the need for more white Christians ... 10/ — PolitiTweet.org

Paul Krugman @paulkrugman

Secular stagnation is a problem for maintaining full employment *through monetary policy alone*. But you can also use fiscal stimulus — and low interest rates mean debt is not a serious problem 9/ — PolitiTweet.org

Paul Krugman @paulkrugman

Sorry, here's SSA link 8/ https://t.co/qOU0L6UAGI — PolitiTweet.org

Paul Krugman @paulkrugman

SSA projects that Social Security outlays will rise 1% of GDP by 2070. Other demographic effects on budget — Medicare and Medicaid also affected by aging. But still we're looking at couple of % of GDP — not earth-shattering 7/ — PolitiTweet.org

Paul Krugman @paulkrugman

But the first issue, while real, is often overstated. Remember how retiring baby boomers were going to cause fiscal catastrophe? Well, boomers started hitting 65 in 2010. No catastrophe yet 6/ — PolitiTweet.org

Paul Krugman @paulkrugman

Low fertility does have economic effects. It means a higher old-age dependency ratio, making safety net harder to afford. It also contributes to secular stagnation: weak investment demand => persistent low interest rates 5/ — PolitiTweet.org

Paul Krugman @paulkrugman

Probably going to write about the return of "family values" soon. But a brief thread on the economics. Huge evidence that spending more on children does a lot for their future health and productivity. But should more children per se also be a goal? 4/ — PolitiTweet.org

Paul Krugman @paulkrugman

Chart 3/ https://t.co/c3kAcUQHyi — PolitiTweet.org

Paul Krugman @paulkrugman

These policies work! French fertility higher than rest of EU, and actually us too 2/ — PolitiTweet.org

Paul Krugman @paulkrugman

It's not just odd failure to mention Biden tax credit. Within Europe, several, you know, actual democracies have lavish pro-natalist policies, France in particular 1/ — PolitiTweet.org

Paul Krugman @paulkrugman

RT @nytopinion: After World War II, there really was a lot of pent-up demand, @paulkrugman notes. “But you can’t suddenly eat all the resta… — PolitiTweet.org

Paul Krugman @paulkrugman

And back to driving: watching people drive in heavy traffic as if it were last April and nobody else was on the road was pretty hair-raising 8/ — PolitiTweet.org

Paul Krugman @paulkrugman

My point is that the pandemic and its disruptions seem to have done a number on social psychology in many dimensions. The worrisome thing is that troubled behavior seems to be persisting even as the country reopens. 7/ — PolitiTweet.org

Paul Krugman @paulkrugman

Lots of people blaming Black Lives Matter for the murder surge; good reasons not to buy this, including the fact that red-state cities saw the same surge as blue-state cities. But here's another reason: did BLM cause bad driving? 6/ — PolitiTweet.org

Paul Krugman @paulkrugman

Well, you see the same thing for homicides 5/ https://t.co/uESbcJruk1 — PolitiTweet.org