Paul Krugman

Paul Krugman @paulkrugman

Well, the markets don't seem to be buying the Summers/stagflation story 1/ https://t.co/Vk65AfVZVa — PolitiTweet.org

Paul Krugman @paulkrugman

Don’t it always seem to go that you don’t know what you’ve got til it’s gone — PolitiTweet.org

Paul Krugman @paulkrugman

Would have led to dislocations regardless, but bad policy made it worse 4/ https://t.co/kT2nVpqHE2 — PolitiTweet.org

Paul Krugman @paulkrugman

And you see this in a surge of goods imports too 3/ https://t.co/tiQ3oRcGRW — PolitiTweet.org

Paul Krugman @paulkrugman

Caricature: can't go to the gym, so bought a Peloton instead. Elitist, but actually does convey the essence of what happened 2/ — PolitiTweet.org

Paul Krugman @paulkrugman

Thinking about bottlenecks; will show up in later writing. Background, though, is the weirdness of this cycle, with service demand suppressed by lockdowns but goods demand strong 1/ https://t.co/cvLQyMw2Q6 — PolitiTweet.org

Paul Krugman @paulkrugman

Nothing worth mentioning 3/ https://t.co/Ztj6g2QaWJ — PolitiTweet.org

Paul Krugman @paulkrugman

But that's an aggregate affected by lot of other stuff. What if we do the details? 2/ — PolitiTweet.org

Paul Krugman @paulkrugman

Fun with FRED: taxes and employment growth in the decade before the pandemic. See the big effects of the Obama hike and the Trump cut? (Only one part of each shown here, but timing is right) Neither do I 1/ https://t.co/AODDFuEs7m — PolitiTweet.org

Paul Krugman @paulkrugman

V for Vendetta — I mean, V-shaped recovery https://t.co/8Yg9G0hPhN — PolitiTweet.org

Paul Krugman @paulkrugman

Hard to compare my own mood then with now — hey, I was only 23 — but I didn't have the kind of dread I have today. Portugal, despite travails, came out OK — solidly democratic. America is on the precipice 5/ — PolitiTweet.org

Paul Krugman @paulkrugman

And while the U.S. took a low profile in Portugal, with its still fragile democracy — as I recall, a lot of support for democratic values was coming from German trade unions! — we were clearly on the side of the good guys, which at the time meant the moderate left 4/ — PolitiTweet.org

Paul Krugman @paulkrugman

The ambassador read a message from Gerald Ford. And I remember feeling pretty good about America. Yes, we were still somewhat shocked by defeat in Vietnam. But Watergate seemed to show the strength of democracy 3/ — PolitiTweet.org

Paul Krugman @paulkrugman

The U.S. ambassador had a cookout in a park — I think in Belem, near the river, although not quite sure. It wasn't just Americans; there were people from other Western embassies, and a fair number of locals. Somehow there were even hot dogs 2/ — PolitiTweet.org

Paul Krugman @paulkrugman

Happy surrender of Vicksburg day. I've seen some people asking if you remember what you did on the bicentennial, July 4 1976. As it happens, I do, and it's a happy memory: I was in Lisbon, working at the Banco do Portugal 1/ — PolitiTweet.org

Paul Krugman @paulkrugman

The point is that the GOP has been like this for a very long time 4/ — PolitiTweet.org

Paul Krugman @paulkrugman

Best estimate of actual share? 42% 3/ https://t.co/UrjGFxmGIZ https://t.co/SX0wNrv9a7 — PolitiTweet.org

Paul Krugman @paulkrugman

Probably not many people remember that back in 2002 Grassley said that people asserting that 40% of the 2001 Bush tax cut went to the top 1% were just like Hitler 2/ https://t.co/2GitQbsLAo — PolitiTweet.org

Paul Krugman @paulkrugman

Tax cut memories: lots of people mocking Chuck Grassley for attributing job growth under Biden to ... the 2017 Trump tax cut 1/ https://t.co/sNROOvE08z — PolitiTweet.org

Paul Krugman @paulkrugman

Most of nyc is fairly tourist free even in normal times. But the old line is exactly wrong: great place to live but I wouldn’t want to visit there https://t.co/1H2wsvHrBQ — PolitiTweet.org

Paul Krugman @paulkrugman

https://t.co/NSe4ERg1dO — PolitiTweet.org

Paul Krugman @paulkrugman

That is, Treasury Inflation Protected Securities. This has been an edition of nerdy economics humor 2/ — PolitiTweet.org

Paul Krugman @paulkrugman

Hmm. Maybe the fact that it's largely about tips is one reason we're not seeing great concern in TIPS 1/ — PolitiTweet.org

Paul Krugman @paulkrugman

The infant-industry argument goes viral https://t.co/qbjcNWJmlj — PolitiTweet.org

Paul Krugman @paulkrugman

How can you even satirize these people? Tax cuts are the cause of everything good, no matter how far in the past — PolitiTweet.org

Paul Krugman @paulkrugman

Lots of problems out there, of course, and we're still far below full employment. But Biden is presiding over a boom that would have had Republicans demanding a victory parade if Trump were still in office 5/ — PolitiTweet.org

Paul Krugman @paulkrugman

Now, Reagan didn't deserve credit for that boom — it was mainly about Fed policy. Biden gets at least partial credit for this boom, bc his admin did so much to get vaccines out there 4/ — PolitiTweet.org

Paul Krugman @paulkrugman

In the year before the 1984 election we gained around 4 million jobs; but from a lower base, so the equivalent of ~ 6.5 million today 3/ https://t.co/Ybq0ZkMC27 — PolitiTweet.org

Paul Krugman @paulkrugman

We've been adding jobs at a monthly rate of around 600,000, or > 7 million annual rate 2/ https://t.co/PQnWvsvmVL — PolitiTweet.org

Paul Krugman @paulkrugman

It's morning in America! Sort of seriously. One take I haven't seen is that so far the rate of job growth under Joe Biden is running somewhat faster than during the recovery that reelected Ronald Reagan 1/ — PolitiTweet.org