Paul Krugman

Paul Krugman @paulkrugman

If it's really all about the price of gas, discontent about the economy has little to do with Biden policies. Suppose there had been no ARP, and inflation was 2 points lower (a high estimate). The price of gas would still be about where it is 1/ https://t.co/gakt4pG7mm — PolitiTweet.org

Paul Krugman @paulkrugman

On the other hand, notice how the party effectively policed this abortive move, unlike Rs who accommodate straight-out pro-Putin, anti-democracy members 3/ — PolitiTweet.org

Paul Krugman @paulkrugman

It seems that somehow progressives got used by foreign-policy "realists" who want deference to Russian power (even as that power has been shown to be largely an illusion). Antithetical to everything they're supposed to stand for 2/ — PolitiTweet.org

Paul Krugman @paulkrugman

Weird story. There's a small faction on the left who see everything through the lens of Iraq, and blames America for the Ukraine war. And you might have thought this faction influenced progressives here. But no 1/ https://t.co/M230kzaxhK — PolitiTweet.org

Paul Krugman @paulkrugman

OK, this whole story is weird. There is a small faction on the left that sees everything through Iraq War glasses, and somehow imagines that the Ukraine war is our fault. And you might have thought this faction was responsible for this foolish letter 1/ https://t.co/L1oLSESC61 — PolitiTweet.org

Paul Krugman @paulkrugman

Uh oh https://t.co/MLNdgH2GMF — PolitiTweet.org

Paul Krugman @paulkrugman

The market rent rollover will mechanically contribute negatively to measured inflation next year, big time. Other factors might offset this. But anyone reporting on inflation should know this 2/ — PolitiTweet.org

Paul Krugman @paulkrugman

Actually shelter CPI reflects rents, not home prices — although those are also rolling over. And the lag is more than 4 months. But still, amazing how many people are still committing either or both of 2 sins: using YoY data and using the shelter CPI without noting the lags 1/ — PolitiTweet.org

Paul Krugman @paulkrugman

RT @nytopinion: Efforts by right-wing media and Republicans to weaponize crime, @paulkrugman writes, are proving effective, even though the… — PolitiTweet.org

Paul Krugman @paulkrugman

RT @jasonfurman: The best feasible step Democrats could take this year to dramatically reduce macroeconomic tail risks would be to eliminat… — PolitiTweet.org

Paul Krugman @paulkrugman

When you couple this with the observation that a lot of current measured inflation represents rent increases from 2021, you can make the case that we're much closer to sustainable levels of demand than the Fed thinks 2/ — PolitiTweet.org

Paul Krugman @paulkrugman

This is a very good post with the wrong subtitle (guys?). It's a useful questioning of claims that the natural rate of unemployment has jumped from 3.5 percent in 2019 to as much as 5 percent now. 1/ https://t.co/lEl35xn4BP — PolitiTweet.org

Paul Krugman @paulkrugman

Somewhat perversely, there will be a good case for the Fed to slow down if residential investment *hasn't* plunged yet — because that would mean that the economy hasn't yet felt most of the effects of the rate hikes so far 4/ — PolitiTweet.org

Paul Krugman @paulkrugman

Also on tap, Thursday, advance GDP. Let me lay down a marker — not for the overall number but for residential investment. We know that the bottom is falling out of the housing market, with mortgage applications way down 3/ https://t.co/Ve3FrouODJ — PolitiTweet.org

Paul Krugman @paulkrugman

Like a lot of economists I'll be watching Friday's Employment Cost Index — especially the measure that excludes incentive pay and arguably gives a better picture of underlying wage growth 2/ — PolitiTweet.org

Paul Krugman @paulkrugman

Important. Core inflation over the past 3 months was 6 percent annualized. But more than half of that was shelter, which was up 8 percent because it reflects market rents with a long lag 1/ https://t.co/IzYjMvNV4v — PolitiTweet.org

Paul Krugman @paulkrugman

I’m also 5’7. Can I have a country? — PolitiTweet.org

Paul Krugman @paulkrugman

A really good essay. — PolitiTweet.org

Paul Krugman @paulkrugman

But overall, two thumbs up so far. Now, will somebody please pick up Paper Girls for a second season? If only because you have to love a show that makes a Jerry Garcia lookalike an intertemporal bad guy 5/ — PolitiTweet.org

Paul Krugman @paulkrugman

Small complaints: I thought Lev Zubov was a more interesting character in the novel than in the show. Also, the novel made Corbell Pickett embody the banality of evil, the show makes him more of a conventional villain. But minor issues 4/ — PolitiTweet.org

Paul Krugman @paulkrugman

They changed the plot quite a lot from the novel to make it TV-suitable — among other things, a lot more on-screen violence — but retained the central conceit. And I found it gripping on both viewings, actually more the second time 3/ — PolitiTweet.org

Paul Krugman @paulkrugman

Actually, this being a production by the people who brought you Westworld, it benefits from being watched twice, for all the details you missed the first time, like the disappearing motorcycle 2/ — PolitiTweet.org

Paul Krugman @paulkrugman

OK, watched the first two episodes with great trepidation — would they do William Gibson's terrific novel justice? And so far they have 1/ https://t.co/wD6SzynuZb — PolitiTweet.org

Paul Krugman @paulkrugman

New York as a whole is still expensive. But that's because it doesn't allow enough density overall, not because some affluent neighborhoods are dense 4/ — PolitiTweet.org

Paul Krugman @paulkrugman

But that doesn't mean that density is pointless. By living in 15-story apartment buildings rather than low-rise structures, the elite residents of the Upper West Side free up urban land elsewhere in New York, helping make housing more affordable in other areas 3/ — PolitiTweet.org

Paul Krugman @paulkrugman

Of course, it's not affordable for most people: apartments cost on average around $1600 a square foot 2/https://t.co/IhZPCjZYcZ — PolitiTweet.org

Paul Krugman @paulkrugman

Contrast: Manhattan's Upper West Side houses around 200,000 people in 1.9 square miles. And it's not an urban hellhole! In fact, it's pretty genteel, side streets are surprisingly quiet, and the quality of life — if you can afford a residence — is high 1/ — PolitiTweet.org

Paul Krugman @paulkrugman

And Jack definitely thinks it’s time to stop 6/ https://t.co/8VUFcmdjs4 — PolitiTweet.org

Paul Krugman @paulkrugman

I'll watch the show and, I hope, enjoy it. But probably need to read some NK Jemisin afterwards 5/ — PolitiTweet.org

Paul Krugman @paulkrugman

Why not, say, Latinos in Queens? Not blaming Gibson, who grew up in Appalachia and, even though he invented cyberpunk, writes about what he knows. But even in sci-fi, I suspect there's a sense in which we still think of small-town whites as the "real America" 4/ — PolitiTweet.org