Paul Krugman

Paul Krugman @paulkrugman

Then this happened 3/ https://t.co/VeAkPEyYZf — PolitiTweet.org

Paul Krugman @paulkrugman

The basic story is that the GOP plan A was to declare Covid-19 over, reopen the economy, and preside over roaring job growth leading into the election. People could have told them that plan was likely to fail. In fact, they did. But there was no plan B 2/ https://t.co/4LxtfRQW1T — PolitiTweet.org

Paul Krugman @paulkrugman

Is this even allowed? I though you were only permitted (and required) to write "Democrats in disarray." But seriously, Rs are clearly at a total loss on economic policy 1/ https://t.co/N38KpQaPOV — PolitiTweet.org

Paul Krugman @paulkrugman

Did I miss Trump saying something about the killing of Judge Esther Salas's son? Or did he exhaust his reserves of compassion feeling sorry for Ghislaine Maxwell? — PolitiTweet.org

Paul Krugman @paulkrugman

The unifying theme is that this isn't a crisis they wanted to deal with, so they have repeatedly pretended that it isn't happening. Grotesque malfeasance, every step of the way 3/ — PolitiTweet.org

Paul Krugman @paulkrugman

This is the THIRD act of gross negligence by Trump and allies in the coronavirus crisis. First they refused to take the pandemic seriously; then they rushed to reopen, ignoring scientific warnings; now they've missed the chance to head off a financial crisis for millions 2/ — PolitiTweet.org

Paul Krugman @paulkrugman

Millions of unemployed workers will suffer drastic income losses starting this weekend. House Dems passed a bill to deal with this 2 months ago; Rs just now beginning to talk about doing something 1/ https://t.co/mkMubqVzEM — PolitiTweet.org

Paul Krugman @paulkrugman

RT @crampell: Another IGM survey of economists -- this one, of quantitative macroeconomic economists -- finds that they generally believe b… — PolitiTweet.org

Paul Krugman @paulkrugman

This policy failure could easily deliver a negative shock of several percent of GDP. And it's not just Trump's fault; Senate Rs share much of the blame 5/ — PolitiTweet.org

Paul Krugman @paulkrugman

For the nerds: the marginal propensity to consume out of income is much higher for UI beneficiaries than for the rest, hence a much bigger multiplier 4/ — PolitiTweet.org

Paul Krugman @paulkrugman

And the unemployed, especially this time around, have little in the way of savings. They'll be forced to slash spending, delivering a huge dose of austerity to the economy as a whole. Sending checks to people who still have jobs won't have anything like the same impact 3/ — PolitiTweet.org

Paul Krugman @paulkrugman

The scale of this unforced error is stunning. In May Pandemic Unemployment Compensation — the extra $600/week, which is what is disappearing — was more than 4% of GDP. Snatching that away will impose huge hardship 2/ — PolitiTweet.org

Paul Krugman @paulkrugman

McConnell totally misunderstands the problem; thinks this is about stimulus, not support as the virus rages. So no deal on unemployment benefits any time soon, with extra benefits going away for many THIS WEEKEND 1/ https://t.co/zIHArvcSMU — PolitiTweet.org

Paul Krugman @paulkrugman

In other words, both sides of the Atlantic lost heavily in the beginning — but they brought it largely under control, and we didn't 3/ — PolitiTweet.org

Paul Krugman @paulkrugman

Currently, Europe has relatively few new deaths, while we're still dying fast — 10 times as fast as the Europeans 2/ https://t.co/WMqqnXn8wF — PolitiTweet.org

Paul Krugman @paulkrugman

I keep getting mail from people who don't understand the difference between levels and rates of change. Total US Covid-19 deaths per capita are higher than Europe, but Europe had a lot of deaths early on 1/ https://t.co/qAkDaEN0Lt — PolitiTweet.org

Paul Krugman @paulkrugman

But if he can't lie, what can he talk about? — PolitiTweet.org

Paul Krugman @paulkrugman

Most workers will be cut off *this weekend*; expanded UI is for the reference week ending on or before the 31st, and ref weeks start Sat. or Sunday. We're going over this cliff. — PolitiTweet.org

Paul Krugman @paulkrugman

Fact check: actually, it is an exaggeration https://t.co/LthRO4JAXS — PolitiTweet.org

Paul Krugman @paulkrugman

What's special about this situation isn't that people who know something about one field have delusions of omnicompetence. It's the political edge, which associates actually bad economics with conservative goals 6/ — PolitiTweet.org

Paul Krugman @paulkrugman

But this kind of ignorant arrogance/intellectual imperialism isn't unique to economists. Try talking economics with physicists! 5/ — PolitiTweet.org

Paul Krugman @paulkrugman

There are, to be sure, economists who suffer from severe unearned arrogance, believing that because they can crank through complicated models they must be smarter than other people, including other economists. 4/ — PolitiTweet.org

Paul Krugman @paulkrugman

The rest seem to be more or less identical to the people who insisted circa 2009 that Keynesianism was nonsense and had been proved wrong — a case they made by reinventing 80-year-old fallacies 3/ — PolitiTweet.org

Paul Krugman @paulkrugman

They're pretty clearly a minority of the profession. Some are part of the charlatan-and-crank wing; it's noteworthy when Stephen Moore leads a smear campaign against Anthony Fauci, but doesn't say much about the state of economics 2/ — PolitiTweet.org

Paul Krugman @paulkrugman

Henry Farrell has a caustic blog post on economists who think they're smarter than epidemiologists, keying off a recent column of mine. But my col was about politicians, not economists; who are these economists we're talking about? 1/ https://t.co/KCjHsEGKmq — PolitiTweet.org

Paul Krugman @paulkrugman

Trump only has three modes: boasting about the great job he's doing, whining about media bias, and fear-mongering about dark-skinned hordes. How realistic is it to believe that any of these will gain traction in the next 100 days? 4/ — PolitiTweet.org

Paul Krugman @paulkrugman

And the economic news is looking disappointing or worse 3/ https://t.co/4OKpEdEUAa — PolitiTweet.org

Paul Krugman @paulkrugman

Here's how well we're doing, measured by average daily deaths over the past week 2/ https://t.co/9kLsN5812x — PolitiTweet.org

Paul Krugman @paulkrugman

Somehow, I don't think daily displays of willful ignorance and self-pity are going to jump-start Trump's campaign 1/ https://t.co/JEX8ahUofZ — PolitiTweet.org

Paul Krugman @paulkrugman

By all means Dems should welcome support from the handful of moderate Republicans. But don't forget that just the other day some of these relatively good guys were helping perpetuate structural racism https://t.co/wVhoFsvaK5 — PolitiTweet.org