Paul Krugman

Paul Krugman @paulkrugman

So this is policy by reality TV: an attempt to pretend that Trump is doing something, while providing no real relie… https://t.co/uMReLQXcoX — PolitiTweet.org

Paul Krugman @paulkrugman

States are also broke because of coronavirus revenue losses and expenses. Even if they could reprogram their COBOL-… https://t.co/NN2MJHu9FI — PolitiTweet.org

Paul Krugman @paulkrugman

Two realities here: 1. The administrative capacity of state unemployment offices is stretched to the limit — it too… https://t.co/J2Q3GLDyoE — PolitiTweet.org

Paul Krugman @paulkrugman

Just a word about the other Trump "policy", on unemployment benefits. He is NOT proposing to extend supplemental be… https://t.co/X6OjoX6caU — PolitiTweet.org

Paul Krugman @paulkrugman

Even Senate Rs consider this a terrible idea. So where's Trump getting it from? The immediate answer seems to be St… https://t.co/72CDkvE31H — PolitiTweet.org

Paul Krugman @paulkrugman

It will, however, undermine the finances of programs that are absolutely crucial to the lives of older Americans. I… https://t.co/aPIPPlQnqK — PolitiTweet.org

Paul Krugman @paulkrugman

Letting employers keep money they were supposed to be paying into Social Security and Medicare — no good reason to… https://t.co/yWWUORK0cq — PolitiTweet.org

Paul Krugman @paulkrugman

We've lost millions of jobs, not because employers lack incentives to hire, but because many activities, like bars,… https://t.co/5AmJODHwAG — PolitiTweet.org

Paul Krugman @paulkrugman

I don't know if anyone else has said this, but payroll tax cuts are the hydroxychloroquine of economic policy. They… https://t.co/08R0k0Gk11 — PolitiTweet.org

Paul Krugman @paulkrugman

The thing is, we went through exactly this story in 2008-9: rising gold prices without rising inflation expectations bc of falling yields, and even a blip in TIPs prices during the post-Lehman financial disruption. No excuse for being confused now [end wonkish rant]/ https://t.co/fWZyFKEkOt — PolitiTweet.org

Paul Krugman @paulkrugman

So, in March there was a near-collapse of financial markets, which drove down the price of anything not totally liquid, including inflation-protected bonds. Hence a brief yield spike and fall in apparent inflation expectations. But it was just a blip 4/ — PolitiTweet.org

Paul Krugman @paulkrugman

The implied inflation forecast is actually lower than it was last year; what's happened is a plunge in yields, reflecting economic pessimism. Some weirdness in March, which I'll explain next 3/ — PolitiTweet.org

Paul Krugman @paulkrugman

Here's the 10-year breakeven inflation rate — the rate that would equalize yields on inflation-protected and ordinary bonds — plus the yield on those inflation-protected bonds 2/ https://t.co/A3ioU6SqvV — PolitiTweet.org

Paul Krugman @paulkrugman

As Charlie Brown would say if he were an economics wonk, "Aaauuuuggghhh!" No, gold prices aren't rising because investors expect inflation. They don't. Gold is high because bond yields are so low 1/ https://t.co/xK2W3VKYZr — PolitiTweet.org

Paul Krugman @paulkrugman

Surely there are smart economists with Trump's ear who can tell him that he's getting it all wrong. Oh, wait again 5/ — PolitiTweet.org

Paul Krugman @paulkrugman

And his insistence that the coronavirus has nothing to do with state budget woes is as crazy as insisting that the pandemic will just vanish, which nobody would ... oh, wait 4/ https://t.co/vrIWPrnQrl — PolitiTweet.org

Paul Krugman @paulkrugman

Suspending payroll tax collections is an illegal solution to a problem we don't have, and does nothing to solve the problems we do 3/ — PolitiTweet.org

Paul Krugman @paulkrugman

But the ideas he's floating are totally disconnected from reality. He may be able to illegally divert a few billion dollars from their legislatively mandated purpose; paying out $70b *a month* in unemployment benefits without authorization, not so much 2/ — PolitiTweet.org

Paul Krugman @paulkrugman

Kind of interesting that Trump seems more aware than Congressional Rs that failure to provide more Covid relief will be a political disaster 1/ https://t.co/41LjaTMMme — PolitiTweet.org

Paul Krugman @paulkrugman

The rot in American politics has been spreading wide and deep for many years — remember that Rs referred to Bill Clinton as "your president," never accepting his legitimacy; let alone that of Barack Obama. This didn't start with Trump 2/ — PolitiTweet.org

Paul Krugman @paulkrugman

Agree with most of this. But the national unity after 9/11 never happened. Congressional Republicans tried to use the attack to ram through a cut in capital gains taxes *within 48 hours*. Wholesale political exploitation was well underway within months 1/ — PolitiTweet.org

Paul Krugman @paulkrugman

RT @adam_tooze: "at the moment we seem to be headed for a GREATER RECESSION” "— a worse slump than 2007-2009, overlaid on the coronavirus s… — PolitiTweet.org

Paul Krugman @paulkrugman

Also, of course, impact from end of benefits still to come. — PolitiTweet.org

Paul Krugman @paulkrugman

Better job report than expected, but: not great considering the hole we’re in, some screwy issues involving seasonal adjustment, and it’s a snapshot from July 12 or so, before most reclosing. This is not the V you’re looking for. — PolitiTweet.org

Paul Krugman @paulkrugman

Sorry, but I don’t take supposed deficit hawks seriously unless they’re willing to give up something they want. If they’re fine with tax cuts but balk at helping the unemployed, they’re frauds — PolitiTweet.org

Paul Krugman @paulkrugman

I’ve done the math and it’s terrifying https://t.co/GpoGtBCk3k — PolitiTweet.org

Paul Krugman @paulkrugman

FYI: trapped behind this. Power lines in there too. Hiked down to the local library to charge devices https://t.co/9Hih4sJCFR — PolitiTweet.org

Paul Krugman @paulkrugman

Still bothers me. Data should be a singular only when referring to Starfleet commanders — PolitiTweet.org

Paul Krugman @paulkrugman

RT @nytopinion: "The attack on unemployment aid is rooted in deep ignorance. But there’s also a strong element of malice," writes @PaulKrug… — PolitiTweet.org

Paul Krugman @paulkrugman

PS: tweeting will be limited bc storm took out both power and broadband. Also trapped us with downed trees and power lines. — PolitiTweet.org