Paul Krugman

Paul Krugman @paulkrugman

RT @nytopinion: "How did one of our two major political parties come not only to reject democracy, but to exalt ignorance and despise compe… — PolitiTweet.org

Paul Krugman @paulkrugman

Rimshot! Exactly the way to put it — PolitiTweet.org

Paul Krugman @paulkrugman

The basic rule should be patience. Don't obsess over the latest number; ask whether the general shape of what seems to be happening fits your narrative. But I can make one firm prediction: very few news reports will follow this rule 8/ — PolitiTweet.org

Paul Krugman @paulkrugman

Does the BLS's birth-death model for adjusting payrolls work in such a weird environment? Etc. Not criticizing the BLS, which is doing the best it can; nor am I calling for using raw data. Just saying that it's really hard 7/ — PolitiTweet.org

Paul Krugman @paulkrugman

For example, traditional seasonal adjustments are of dubious value in an economy where some highly seasonal activities have been and to some extent still are depressed by social distancing 6/ — PolitiTweet.org

Paul Krugman @paulkrugman

And yet ordinary monthly data are now very noisy, largely because the raw data are useless without adjustments that have been thrown out of whack because of the pandemic and its aftermath. 5/ — PolitiTweet.org

Paul Krugman @paulkrugman

We're in an era in which it's really frustrating that there aren't futures markets for used cars the way there are for lumber, so that we can't keep real-time track of a key factor in recent inflation numbers 4/ — PolitiTweet.org

Paul Krugman @paulkrugman

I mean, we're now in an era where things change so fast that you really have to know that the BLS job number for "June" is really for the pay period including June 12, so could be significantly out of date 3/ — PolitiTweet.org

Paul Krugman @paulkrugman

The CEA is telling us not to put too much weight on tomorrow's job number, good or bad, and rightly so. It's a paradox that the pandemic has created an unprecedented demand for high-frequency economic information — and degraded the quality of that information 2/ — PolitiTweet.org

Paul Krugman @paulkrugman

It's downright weird after the previous four years to be reading so much smart — and fairly nonpartisan — stuff from the CEA 1/ — PolitiTweet.org

Paul Krugman @paulkrugman

I've never had much good to say about supply-side economics; actually, never had anything good to say. But even I never imagined that it would play a role in killing thousands of Americans 5/ — PolitiTweet.org

Paul Krugman @paulkrugman

Also, let's not forget the "cubic model" saying that it would all end in April 2000 4/ https://t.co/ShmQi6chvh — PolitiTweet.org

Paul Krugman @paulkrugman

I don't mean I disagree with his analysis — I mean that he can't get basic data right 3/ https://t.co/hCnte39Eer — PolitiTweet.org

Paul Krugman @paulkrugman

Trump eventually found crank medical "experts" to justify his lethally bad policies — has anyone seen Scott Atlas lately? — but he initially relied on people like Stephen Moore, who made their name by getting economic facts wrong 2/ — PolitiTweet.org

Paul Krugman @paulkrugman

Reading Abutaleb and Paletta's "NIghtmare Scenario" about Trump's response to Covid, and what's striking to me at least is the key role played by economic charlatans and cranks 1/ https://t.co/QWGQDJitGz — PolitiTweet.org

Paul Krugman @paulkrugman

This appears to be true. However, the real interest rate on pixie dust is -0.8 percent, so it's perfectly OK — PolitiTweet.org

Paul Krugman @paulkrugman

Nice essay via FTAlphaville. Bitcoin has clearly failed in its mission to become money, but its value is sustained because it has become a sort of natural Ponzi scheme https://t.co/dSigdGcWCA — PolitiTweet.org

Paul Krugman @paulkrugman

So far, inflation is following the core-v-transitory script: surges in things like lumber are already fading, not much sign of a surge in underlying inflation 2/ — PolitiTweet.org

Paul Krugman @paulkrugman

"The cure for high prices is high prices." Very good from Neil Irwin — and distinguishing between where that is and isn't true is a good definition of core inflation 1/ https://t.co/jqGvQsgIB8 — PolitiTweet.org

Paul Krugman @paulkrugman

The military has become smart and open-minded. So now Republicans hate them https://t.co/kWBrkZOztO — PolitiTweet.org

Paul Krugman @paulkrugman

Am I the only person for whom Twitter's home page will no longer load on Chrome? Working OK on other browsers. — PolitiTweet.org

Paul Krugman @paulkrugman

Good thing I'm not doing my Finger Lakes bike trip this week https://t.co/rMtWaf83Aq — PolitiTweet.org

Paul Krugman @paulkrugman

The fake outrage machine has been turned up to 11, but it looks kind of pathetic 3/ https://t.co/A8kUhhNvjk — PolitiTweet.org

Paul Krugman @paulkrugman

Apparently Rs are shocked, shocked that Ds intend to do a lot of additional stuff thru reconciliation — even though this was always explicitly part of the plan 2/ — PolitiTweet.org

Paul Krugman @paulkrugman

I was puzzled about the politics of the infrastructure deal. I failed to make allowance for sheer incompetence 1/ — PolitiTweet.org

Paul Krugman @paulkrugman

Busy day yesterday, so didn't have a chance to tweet my latest wonkishness https://t.co/xM45qbIDsO — PolitiTweet.org

Paul Krugman @paulkrugman

RT @nytopinion: "If a tree falls in a forest but nobody is there to hear it, did it make a sound?" writes @paulkrugman. "If we have a rapid… — PolitiTweet.org

Paul Krugman @paulkrugman

Lots more analysis to be done; but in any case this is (had better be) just a political downpayment on the plan we really need 5/ — PolitiTweet.org

Paul Krugman @paulkrugman

As best I can tell, however, a lot of this is taking revenue that would have come in anyway and saying that it's paying for this plan — which means that in an economic sense it's largely deficit-financed. And that's OK! 4/ — PolitiTweet.org

Paul Krugman @paulkrugman

One thing I'm not seeing much focus on yet is the pay-fors. What are these public-private partnerships? Are the spectrum auctions new or are they things that would have taken place anyway? Etc. 3/ — PolitiTweet.org