Paul Krugman

Paul Krugman @paulkrugman

So we're short-changing people in desperate straits, while handing out checks to people who don't need them. This may be good politics, but it isn't good policy 4/ — PolitiTweet.org

Paul Krugman @paulkrugman

For someone who won't have earnings until we have mass vaccination, even a $2000 check isn't remotely enough to compensate for the loss of that $300 a week extra unemployment benefit starting in mid-March 3/ — PolitiTweet.org

Paul Krugman @paulkrugman

Where we are now is that a minority of American have suffered a catastrophic loss of income, which is likely to last at least 6 months, while many have suffered no loss at all. Sending everyone a check is not a good response 2/ — PolitiTweet.org

Paul Krugman @paulkrugman

Dems are gleefully signing on to Trump's demand for $2000 checks, hoping to embarrass Rs; fair enough. And it would do no harm, since debt is not a problem given negative real interest rates. But the way this is playing out is still bad news for the future 1/ — PolitiTweet.org

Paul Krugman @paulkrugman

This is why I expect a rapid recovery once we're vaccinated, despite vastly inadequate relief. Huge suffering, but the big spenders are sitting on piles of cash — PolitiTweet.org

Paul Krugman @paulkrugman

Also, and relatedly, THIS IS NOT ABOUT STIMULUS. The point is to help people survive the remaining months of pandemic, not to boost demand. But like the fact that it's not just the checks, this seems impossible to get across — PolitiTweet.org

Paul Krugman @paulkrugman

Sigh. Aside from the fact that we have 27 more days of tantrums from this guy, it's depressing that everyone is fixated on the one-time checks instead of the unemployment benefits, which are much more crucial and expire much too soon https://t.co/jccKaWsogl — PolitiTweet.org

Paul Krugman @paulkrugman

The relief deal is better than nothing, but ominous for the future https://t.co/A6tEWiCVJb — PolitiTweet.org

Paul Krugman @paulkrugman

Question: Does anyone care about Robert E. Lee these days? The Lee legend portrayed him (falsely) as a noble paladin, the perfect gentleman. But these days the right prefers blatant thugs; even the imaginary Lee wasn't their kind of guy https://t.co/LrRo8pCtCr — PolitiTweet.org

Paul Krugman @paulkrugman

If they do reemerge, as expected, it's proof that they were never nonpartisan; debt is only a big deal for D presidents. But let's hope that at least they keep Howard Schultz out of it. — PolitiTweet.org

Paul Krugman @paulkrugman

It's here. Half the population in only 4.6% of counties. 2/ https://t.co/uOijCWSLdz — PolitiTweet.org

Paul Krugman @paulkrugman

Lots of people ridiculing this deeply stupid post. But do people know that there was actually a special Census report on population disparities among counties? 1/ https://t.co/Oc8rwPQKTj — PolitiTweet.org

Paul Krugman @paulkrugman

This is pretty upsetting. The "stimulus" checks, which aren't that essential, will cost more than UI, which is. Could easily have done UI long enough to get through until economic recovery https://t.co/3KPFFVP722 https://t.co/9vDYW8bhmw — PolitiTweet.org

Paul Krugman @paulkrugman

You might think this a reason to keep the Fed the way it is, with discretion to save the world again if need be. But technocratic competence has a well-known liberal bias 4/ — PolitiTweet.org

Paul Krugman @paulkrugman

In particular, it quickly controlled a financial crisis that for 2 weeks looked worse than the fall of Lehman 3/ https://t.co/U4TrR42aU4 — PolitiTweet.org

Paul Krugman @paulkrugman

One of the shocking things about the past four years was the ease with which Trump undermined the professionalism of technocratic agencies, from the Weather Service to, of course, the CDC. But the Fed, protected by its quasi-independence, remained competent 2/ — PolitiTweet.org

Paul Krugman @paulkrugman

Still thinking about the R effort — apparently abandoned as a practical matter — to prevent the Fed from acting to prevent crises. I still think sabotage was the main motive. But I wonder also whether the Fed's very integrity upset them. 1/ — PolitiTweet.org

Paul Krugman @paulkrugman

Running joke that Rs don't do evidence-based policy, they do policy-based evidence. Except it's not a joke https://t.co/dTZS2gsxRH https://t.co/obvCaVyo26 — PolitiTweet.org

Paul Krugman @paulkrugman

OK, this sounds as if Rs surrendered here, but in a way that lets them pretend they didn't https://t.co/OIpQdaoOPF https://t.co/M0bNPAD5x4 — PolitiTweet.org

Paul Krugman @paulkrugman

RT @maggieNYT: Sources who have gotten used to Trump’s eruptions over four years sound scared by what’s transpired in the past week when I’… — PolitiTweet.org

Paul Krugman @paulkrugman

As I said, every time you think they've reached the limits of crazy they prove you wrong 7/ https://t.co/rmIX4dsPGJ — PolitiTweet.org

Paul Krugman @paulkrugman

Sabotage — PolitiTweet.org

Paul Krugman @paulkrugman

Also, how is it that I haven't seen anyone else make this bad joke? 6/ https://t.co/OXxRzyAiWf — PolitiTweet.org

Paul Krugman @paulkrugman

Based on experience so far, nobody should count on any normalization. The only reason not to expect scenes of the Secret Service frog-marching him out is his lack of physical courage 5/ — PolitiTweet.org

Paul Krugman @paulkrugman

So it occurs to me that one could make a similar chart for Trump crazy, which people keep predicting will eventually subside 4/ https://t.co/GVDzAzkRSt — PolitiTweet.org

Paul Krugman @paulkrugman

Sample chart 3/ https://t.co/kUC3ubqWs5 — PolitiTweet.org

Paul Krugman @paulkrugman

If you follow economics you may be aware how the consensus keeps predicting a return to normal interest rates, which keeps not happening 2/ — PolitiTweet.org

Paul Krugman @paulkrugman

Watching the spectacle of Trump's final days makes me think about ... interest rates. Bear with me a minute 1/ — PolitiTweet.org

Paul Krugman @paulkrugman

But Republicans are trying to ensure that the Fed can't do its job if there's a crisis under Biden. They're barely even trying to offer a coherent rationale. And this attempt at sabotage may scuttle a Covid relief bill 7/ — PolitiTweet.org

Paul Krugman @paulkrugman

Has the Fed ever abused this power? No. Right-wing complaints about the Fed's role have tended to be along the lines of "We're supposed to be having a crisis but the Fed is preventing it" which is not exactly a bad thing. 6/ — PolitiTweet.org