Paul Krugman

Paul Krugman @paulkrugman

Watching Andy Slavitt get radicalized by reality. What I went through during the Bush years, but at warp speed — PolitiTweet.org

Paul Krugman @paulkrugman

Very little prospect that this will change, especially with stocks partly back up. So we're going to stumble into epidemiological and economic catastrophe 6/ — PolitiTweet.org

Paul Krugman @paulkrugman

That is, he's deathly afraid of being called on to actually be a president, as opposed to playing one on TV. So rather than try to deal with the crisis, he's retreating into denial and passivity 5/ — PolitiTweet.org

Paul Krugman @paulkrugman

This is partly about ideology, but I also think it reflects Trump's deep psychological insecurity (which is reflected more broadly in his presidency). All the evidence suggests that he has no faith in his own ability to make actual policy 4/ — PolitiTweet.org

Paul Krugman @paulkrugman

To the extent that there's a coherent strategy here, it is to rely on a spontaneous economic rebound that will take place even though the coronavirus isn't remotely contained 3/ — PolitiTweet.org

Paul Krugman @paulkrugman

The same thing is now happening on the economic side. After initially making a start on real aid to workers and businesses hit hard by the slowdown, Trump and allies have basically put a hold on policy 2/ https://t.co/LCvjcJG7xt — PolitiTweet.org

Paul Krugman @paulkrugman

We are ruled by quitters. As Andy Slavitt pointed out a few days ago, the US finally started to implement a real strategy to cope with Covid-19 — then Republicans just gave up 1/ https://t.co/tip5V6ATVz — PolitiTweet.org

Paul Krugman @paulkrugman

One unintended consequence of the Fed's success here may be that Trump and friends really do think the stock market is signaling the all-clear; so no more economic relief 6/ — PolitiTweet.org

Paul Krugman @paulkrugman

The article I linked to barely mentions the obvious explanation: we had an incipient financial crisis in March, which drove corporate borrowing costs up and stocks down; but the Fed contained that crisis, so stocks rebounded 5/ https://t.co/Ppo0KmQw0N — PolitiTweet.org

Paul Krugman @paulkrugman

Although there were many people claiming that it was about debt fears (and way too much reportage simply stating this as a fact, which it wasn't) 4/ https://t.co/nQwpfMsqhc — PolitiTweet.org

Paul Krugman @paulkrugman

For comparison, consider 2009, when investors really did believe (wrongly) in a V-shaped recovery. Long-term rates sprang right back 3/ https://t.co/POK9HPM8WR — PolitiTweet.org

Paul Krugman @paulkrugman

If investors really believed in a V-shaped recovery, the steep decline in interest rates that took place as the Covid threat became apparent would have reversed. It hasn't — not at all 2/ https://t.co/M9ILjhyTZN — PolitiTweet.org

Paul Krugman @paulkrugman

I'm amazed at how many reports insist that the stock market rise means that investors are betting on a V-shaped recovery. No, they aren't 1/ https://t.co/Q9jkoaUzuR — PolitiTweet.org

Paul Krugman @paulkrugman

RT @nytopinion: .@PaulKrugman responded to readers commenting on his column "An Epidemic of Hardship and Hunger." Read their exchanges here… — PolitiTweet.org

Paul Krugman @paulkrugman

For those baffled by the stock market, a fairly recent historical tidbit: stocks had recovered to their 2007 peak by late 2012, but unemployment was still 8 percent. Stocks are not a good predictor of the labor market https://t.co/eJ2jmSxguU — PolitiTweet.org

Paul Krugman @paulkrugman

Mitch McConnell may imagine that this is only a blue state problem. It isn't. 3/ — PolitiTweet.org

Paul Krugman @paulkrugman

Also off 36% in Georgia 2/ https://t.co/iynewWV1t1 — PolitiTweet.org

Paul Krugman @paulkrugman

State fiscal crisis watch: notice that revenues are off more than 50% in Kansas and Missouri 1/ https://t.co/2y17x2NkvF — PolitiTweet.org

Paul Krugman @paulkrugman

RT @thomasdevitt1: @Nouriel @delong Dow Jones is still down like 20% from previous peak. I think @paulkrugman had it right. The ‘recovery’… — PolitiTweet.org

Paul Krugman @paulkrugman

RT @jasonfurman: 981,000 state and local job losses are only a harbinger of what is to come--and are avoidable. Includes 468,800 jobs lost… — PolitiTweet.org

Paul Krugman @paulkrugman

RT @jimtankersley: BLS indicates the actual unemployment rate might be nearly 20%: https://t.co/UeGtezoUXr — PolitiTweet.org

Paul Krugman @paulkrugman

The headline unemployment rate is up 11 points since Feb, which is awful. But broader measure of unemployment, counting discouraged workers etc, up almost 16 pts, probably a better measure of distress https://t.co/wRT4p3Ogkm — PolitiTweet.org

Paul Krugman @paulkrugman

25 million fewer people working in April than in Feb, and probably further losses since survey, which more or less reflects mid-month. And the GOP response is to reject aid for the needy https://t.co/90uPVDtvMN — PolitiTweet.org

Paul Krugman @paulkrugman

Video talk, "What the heck is up with the market?" going up this morning at 8 AM Eastern. It's free (we'll start charging soon.) Sign up here https://t.co/svcuYWKriz — PolitiTweet.org

Paul Krugman @paulkrugman

So what are the top GOP priorities? Restrict access to food stamps, end expanded unemployment benefits, and "terminate" Obamacare 3/ https://t.co/krgPimYEJf — PolitiTweet.org

Paul Krugman @paulkrugman

Historical perspective: this is close to estimates of peak unemployment during the Great Depression, and worse than unemployment for most of the 1930s 2/ https://t.co/TsQOK6YieN — PolitiTweet.org

Paul Krugman @paulkrugman

As Ernie Tedeschi says, tomorrow's report may not reflect where we are right now, which is probably around 20% unemployment 1/ https://t.co/w29thXEIvd — PolitiTweet.org

Paul Krugman @paulkrugman

A new video briefing, "What the heck is going on in the markets?" will go up tomorrow morning. It's free; register here. https://t.co/v4kgwZbjuz — PolitiTweet.org

Paul Krugman @paulkrugman

I don't know if anyone remembers this, but something similar happened during the calamitous occupation of Iraq. Experienced development and aid professionals were excluded in favor of young conservatives, typically with connections to Heritage but no relevant background — PolitiTweet.org

Paul Krugman @paulkrugman

But extension of unemployment benefits, says Lindsey Graham, will take place only over dead bodies 2/ https://t.co/iGbmHGpamk — PolitiTweet.org