Paul Krugman

Paul Krugman @paulkrugman

So the flailing now isn't really new, although it's more extreme as the election goes into its end game 3/ — PolitiTweet.org

Paul Krugman @paulkrugman

Worth noting that manufacturing output was already falling before the coronavirus, largely bc of erratic Trump policy 2/ https://t.co/qbLokkWgUp — PolitiTweet.org

Paul Krugman @paulkrugman

Trying to characterize the wild swings in Trump on stimulus, I thought "art of the flail," then wondered who had said that before. The answer, actually, was me 1/ https://t.co/E0hz70keQP — PolitiTweet.org

Paul Krugman @paulkrugman

This might be some combination of flaws in the tax cut's structure and the preponderance of monopoly rents in modern corporate profits. Whatever the reason, however, it suggests that repealing those corporate tax cuts won't reduce wages 3/ — PolitiTweet.org

Paul Krugman @paulkrugman

The point is that the channel through which corporate tax cuts are supposed to raise wages is tax cut -> higher investment -> higher capital stock -> higher demand for labor. But the TCJA, as far as we can tell, had no effect on business investment 2/ — PolitiTweet.org

Paul Krugman @paulkrugman

Exactly. Most tax models assume that the corporate tax indirectly reduces wages; but that's not the same thing as saying that it's a tax on workers. And the experience of the 2017 tax cut should lead us to question how much incidence on workers there really is 1/ — PolitiTweet.org

Paul Krugman @paulkrugman

My guess is that a significant number of Trump supporters will react with rage — and some with violence. Just one more thing to think about as the decision approaches 3/ — PolitiTweet.org

Paul Krugman @paulkrugman

All indications are that the Republican man in the street — and I do mean man, given the gender divide — has no idea what is probably coming, and will be shocked if the result looks anything like the forecasts 2/ https://t.co/pz9eBGGyBp — PolitiTweet.org

Paul Krugman @paulkrugman

One thing (among many) that worries me about the election is complacency. No, not among Dems — they learned their lesson in 2016, and won't count chickens despite polling that if anything suggests a Biden landslide. I'm worried about Republicans 1/ — PolitiTweet.org

Paul Krugman @paulkrugman

But one thing worth pointing out is that there is now a clear divergence of interests between Trump and Senate Rs. His sudden flip-flop on stimulus reflects desperation; his party won't support in part bc it has moved on, and is trying to set the stage for sabotaging Biden 3/ — PolitiTweet.org

Paul Krugman @paulkrugman

This of course means that he is willing to do anything that might pull out an upset. I'm much more worried about the prospect of a stolen election than that he might legitimately win, although that's still possible 2/ https://t.co/QQABJWI2vq — PolitiTweet.org

Paul Krugman @paulkrugman

More indications that Trump faces personal ruin if he loses: much of his revenue will dry up, and creditors will be much more likely to go after him if he is no longer in the WH 1/ https://t.co/q9w5CGJj6W — PolitiTweet.org

Paul Krugman @paulkrugman

Just to be clear about why Rs oppose government relief in an emergency. It's not because they think it won't work; it's because they're afraid that it *will* work, and help legitimize other government action to help Americans — PolitiTweet.org

Paul Krugman @paulkrugman

As many people have pointed out, Trump's planned balcony address from the White House directly emulates Mussolini, the man who coined the term "fascist" https://t.co/IrTdXaxveW — PolitiTweet.org

Paul Krugman @paulkrugman

Yet there it is. And there are a lot of Trump-like figures on the right — self-absorbed, boastful, yet constantly complaining. I guess there's something about the psychology here that none of the books I've read on the conservative mind seem to explain 3/ — PolitiTweet.org

Paul Krugman @paulkrugman

I mean, trying to make this campaign about Hillary? Proclaiming himself a "perfect physical specimen"? All the boasting and complaining about people out to get him? The orange makeup? Right-wingers idolize tough guys, so why support such a whiner? 2/ — PolitiTweet.org

Paul Krugman @paulkrugman

This goes to the one thing that puzzles me about Trump supporters. They're fine with his thuggishness, indeed pleased by it; I get that. They look past his incompetence — well, partisanship is a hell of a drug. But doesn't it bother them that he's such a ludicrous figure? 1/ — PolitiTweet.org

Paul Krugman @paulkrugman

RT @nytopinion: .@PaulKrugman responded to readers commenting on his column "Trump Is Killing the Economy Out of Spite." Read their exchang… — PolitiTweet.org

Paul Krugman @paulkrugman

RT @jemelehill: Nothing to see here, just the president tweeting that essentially the plot to kidnap Gov Whitmer was what she deserved for… — PolitiTweet.org

Paul Krugman @paulkrugman

What's clear, however, is that the prudent thing right now is to spend a lot of money — hundreds of billions a month — supporting workers, businesses, and state/local governments. NOT spending that money is deeply irresponsible 2/ — PolitiTweet.org

Paul Krugman @paulkrugman

This is a very good, sober discussion of what we should be doing on economic relief. Fwiw, I'd go with "bottom up"; I don't think conventional output gap/multiplier analysis is a good fit to a pandemic-depressed economy 1/ https://t.co/p53dANW23P — PolitiTweet.org

Paul Krugman @paulkrugman

If Trump were a third-world dictator, we might try to ease him out by offering refuge in a villa on the French Riviera in return for leaving town peacefully. Unfortunately, that's not an option; so expect extreme and dangerous behavior 4/ — PolitiTweet.org

Paul Krugman @paulkrugman

Instead, he — and his family — probably face personal financial ruin if they lose the shield of office and the flow of income to Trump properties. Given the rampant corruption of his administration, many of those around him probably face prosecution 3/ — PolitiTweet.org

Paul Krugman @paulkrugman

One thing I didn't say in the op-ed is that a post-election Trump won't be like a normal ex-president, who can go on the speaking circuit, have somebody ghost-write his memoirs, and generally kick back a bit 2/ — PolitiTweet.org

Paul Krugman @paulkrugman

Trump hasn't even been defeated yet, but he's lashing out like a vindictive man with nothing to lose. This will only get worse as the election approaches, and will be a nightmare during the lame duck 1/ https://t.co/vfqQgHvTYE — PolitiTweet.org

Paul Krugman @paulkrugman

RT @nytopinion: "Trump hasn’t even lost yet, but he abruptly cut off talks on an economic relief package millions of Americans desperately… — PolitiTweet.org

Paul Krugman @paulkrugman

Do you think Trump will condemn the plot to kidnap Gretchen Whitmer? My guess is that he won't. — PolitiTweet.org

Paul Krugman @paulkrugman

There's an asymmetry here, though. Rs seem to get some traction by pushing totally bonkers accusations against Ds; Ds lose the audience by describing true R behavior. So you have to run against a cartoonishly evil president by focusing on bread and butter policy 4/ — PolitiTweet.org

Paul Krugman @paulkrugman

Here's the money graf 3/ https://t.co/7gHAdECwGx — PolitiTweet.org

Paul Krugman @paulkrugman

Matt Yglesias quotes a very old column of mine on the same phenomenon after 9/11 2/ https://t.co/6VKLyoe5h3 — PolitiTweet.org