Paul Krugman

Paul Krugman @paulkrugman

Or to put it another way, the WH economics team is to economics as Richard Epstein is to epidemiology 3/ https://t.co/x6rBfY0aFq — PolitiTweet.org

Paul Krugman @paulkrugman

RT @ASlavitt: The hoarding & profiteering of PPE that is meant for our workers is akin to manslaughter. I guess I have some anger built up… — PolitiTweet.org

Paul Krugman @paulkrugman

Real economists were and are unanimously opposed to an early end to the lockdown 2/ https://t.co/UBg4xKx9n5 https://t.co/9AY3AFY8vE — PolitiTweet.org

Paul Krugman @paulkrugman

Please note: "the economists" here basically means Larry Kudlow, who isn't a real economist but played one on CNBC 1/ — PolitiTweet.org

Paul Krugman @paulkrugman

Sanders seems paralyzed — unable to concede that his strategy didn't work. And his paralysis is doing real damage to his agenda. — PolitiTweet.org

Paul Krugman @paulkrugman

Using annualized growth rates is deeply misleading here (not blaming Adam!) 34% annual rate is actually 8%. Still horrific, but not quite what you may think. — PolitiTweet.org

Paul Krugman @paulkrugman

RT @DeanBaker13: The reason Trump is asserting, with zero evidence, that health care workers are stealing masks to resell is because that i… — PolitiTweet.org

Paul Krugman @paulkrugman

America is unique in the power of anti-science politicians and avoidable mortality; our response to coronavirus reflects this uniqueness https://t.co/K8tlyxGAPY — PolitiTweet.org

Paul Krugman @paulkrugman

RT @nytopinion: "Decades of science denial on multiple fronts set the stage for the virus denial that paralyzed U.S. policy during the cruc… — PolitiTweet.org

Paul Krugman @paulkrugman

RT @joshtpm: This is the proper context in which to see Trump's mild but real bump in popularity. Big rally effect in public crisis and ins… — PolitiTweet.org

Paul Krugman @paulkrugman

RT @alexburnsNYT: There are those out there — including a good number of longtime GOP Rubio skeptics — who would say this is less about a m… — PolitiTweet.org

Paul Krugman @paulkrugman

Fair enough. Twitter is fast and sloppy, and I forgot to include the link to the updating FT chart: https://t.co/kQWOdYeAn8. Obviously not trying to claim credit for the work. — PolitiTweet.org

Paul Krugman @paulkrugman

Remembering this. Katrina was a dress rehearsal for our current nightmare of bad leadership https://t.co/BOVyPaxn3E — PolitiTweet.org

Paul Krugman @paulkrugman

Fauci's # could be way low. I don't think people really get the implications of exponential growth. 132K US cases as I write this; at current growth rates that could exceed 100 million within a month. — PolitiTweet.org

Paul Krugman @paulkrugman

PS: this great daily updated chart comes from the Financial Times. (As you can tell from the pink background) — PolitiTweet.org

Paul Krugman @paulkrugman

Lest we forget https://t.co/PCY1qrkC09 https://t.co/f5xlHZ62BP — PolitiTweet.org

Paul Krugman @paulkrugman

The world doesn't always look like this. But in times of crisis it does, and huge monetary and fiscal expansion isn't irresponsible; on the contrary, refusing to engage in expansion would be irresponsible 8/ — PolitiTweet.org

Paul Krugman @paulkrugman

So the government is borrowing the money the private sector doesn't want to spend, and spending it instead. The market is basically paying the government to do this: real interest rates on federal debt are negative 7/ — PolitiTweet.org

Paul Krugman @paulkrugman

Deficit spending is in a way a similar story. The private sector suddenly wants to spend much less, and accumulate assets instead. But my spending is your income, and your spending is my income. If everyone tries to spend less, the result is a depression 6/ — PolitiTweet.org

Paul Krugman @paulkrugman

A lot of this flight capital basically ends up parked at the Fed, which is in turn lending it back out by buying longer-term securities and even corporate bonds. This does increase the monetary base — "printing money" — but it's best seen as recycling funds into productive use 5/ — PolitiTweet.org

Paul Krugman @paulkrugman

Private investors are running from anything that's even slightly risky or illiquid, making capital costly or unavailable to business. Look at yields on federal debt, which have dropped to zero, versus commercial paper 4/ https://t.co/of1ssdZliT — PolitiTweet.org

Paul Krugman @paulkrugman

On the monetary side, you really shouldn't think of the Fed as "printing money." What it's really doing is recycling money that is trying to flee into safe havens, with potentially disastrous effects 3/ — PolitiTweet.org

Paul Krugman @paulkrugman

And as in the 2008 crisis, my inbox is full of people warning that the Fed's efforts to stabilize markets amount to massive money-printing and will lead to runaway inflation; also that budget deficits will bankrupt us. So a bit of wonkery on why that's all wrong 2/ — PolitiTweet.org

Paul Krugman @paulkrugman

In many ways the coronacession is very different from earlier slumps. Still, as Adam Tooze says, "much of what’s happening in financial markets today seems incredibly familiar to anyone who spent a lot of time in the 2007-’08 story and its aftermath." 1/ https://t.co/ktMdCGOIWU — PolitiTweet.org

Paul Krugman @paulkrugman

The thing is, there really is a sort of uniquely American way of death, rooted in extreme inequality, a weak social safety net, anti-intellectualism, tendency to blame all problems on The Other, etc. And now it's being laid bare for all to see 3/ — PolitiTweet.org

Paul Krugman @paulkrugman

On the other hand, in some ways it's a continuation of our long-term terrible health performance, with life expectancy lagging ever farther behind other advanced countries even before the pandemic 2/ https://t.co/cN1rKELd7b — PolitiTweet.org

Paul Krugman @paulkrugman

America's response to the coronavirus is the worst in the world, which is shocking and has a lot to do with a leader who is completely unfit, temperamentally and intellectually, for the job 1/ https://t.co/sGZuFUukgr — PolitiTweet.org

Paul Krugman @paulkrugman

And sure enough, Anthony Fauci, who dares to present evidence and doesn't fawn over Dear Leader, is getting the Michael Mann treatment https://t.co/9RgRzatjDN — PolitiTweet.org

Paul Krugman @paulkrugman

I've been noticing how closely the right-wing response to Covid-19 mirrors climate-change denial, albeit on a vastly accelerated time scale. So I wrote up some thoughts about why. https://t.co/5wVSmlEMIW — PolitiTweet.org

Paul Krugman @paulkrugman

RT @leonardocarella: Coronavirus rally-around-the-flag approval rating boost for incumbents: Conte +27 (Demos) 🇮🇹 Macron +14 (Ipsos) 🇫🇷 Me… — PolitiTweet.org