Paul Krugman

Paul Krugman @paulkrugman

The idea that there might be panic isn't entirely wrong, but the panic will be far worse if it happens after the suppressed warnings come true 3/ — PolitiTweet.org

Paul Krugman @paulkrugman

In fact, it's a LOT like storm planning, since the main short-run concerns involve disruptions of the flow of goods. And the things people might do to prepare, like stockpiling crucial items, would be good for the nation, not destructive speculation 2/ — PolitiTweet.org

Paul Krugman @paulkrugman

Even if you support Brexit, the UK government's attempt to keep contingency planning secret should outrage you. This is like planning for a possible hurricane, and people should know what to expect 1/ https://t.co/XiSBoHkbRx — PolitiTweet.org

Paul Krugman @paulkrugman

What happens when you refuse to use public money for the public good https://t.co/dcwHrO9OnP — PolitiTweet.org

Paul Krugman @paulkrugman

I've been trying to make sense of the latest Argentine disaster; not fully there yet. But this thread by Brad Setser covers many of the bases https://t.co/SKNd9h0dNX — PolitiTweet.org

Paul Krugman @paulkrugman

RT @joshtpm: Fox News Guest Blames Mass Shootings On Fact That Evolution Is Taught In Schools https://t.co/XkvZN2Qz4W via @TPM — PolitiTweet.org

Paul Krugman @paulkrugman

So there would be huge abuse, huge giveaway to the wealthy, and job creation only for accountants and tax lawyers 6/ — PolitiTweet.org

Paul Krugman @paulkrugman

Suppose inflation is 2%, u can borrow at 2%, and have an investment that yields 2% in capital gains. Borrow to invest; this generates no taxable income, but since the full interest cost is deductible, gives you a nice refund from the IRS. 5/ — PolitiTweet.org

Paul Krugman @paulkrugman

Trump's proposal to index capital gains to inflation — even aside from giving the vast bulk of the benefits to the wealthy — falls into that category. Bc capital gains would be indexed, but other things not, huge possibilities for tax arbitrage 4/ — PolitiTweet.org

Paul Krugman @paulkrugman

Also, any time you try to promote some kind of economic activity with differential tax rates you create the potential for abuse, which only very careful drafting and enforcement — neither forthcoming from Trump etc — can contain 3/ — PolitiTweet.org

Paul Krugman @paulkrugman

Worth remembering that the tax bill was rushed through without hearings or any time for analysis, and it was widely — and correctly — predicted that this would create huge loopholes 2/ https://t.co/GVn47qOGQ6 — PolitiTweet.org

Paul Krugman @paulkrugman

One thing not clear from this excellent Times read on the abuse of the "opportunity zones" tax break was whether the potential for abuse was sheer incompetence or deliberate malfeasance 1/ https://t.co/VtL3n4yIuQ — PolitiTweet.org

Paul Krugman @paulkrugman

RT @ChadBown: The questions are whether farmers understood what they were getting themselves into, whether they now understand their distre… — PolitiTweet.org

Paul Krugman @paulkrugman

Why is Trump deregulating business *more than business wants*? As @drvox explains, it's springtime for grifters https://t.co/xPEhLOGfu9 — PolitiTweet.org

Paul Krugman @paulkrugman

I do think, however, that blaming business for the economy's troubles is something new. And it reinforces a point I've been trying to make: billionaires who think Trump's their guy are in for a rude shock 3/ https://t.co/DNe8BT9zi0 — PolitiTweet.org

Paul Krugman @paulkrugman

I mean, remember "the buck stops here"? Trump is the anti-Truman. But in this as in other things, he's just the culmination of where his party has been going for a while. The Bush people were notably unwilling to accept responsibility for anything 2/ https://t.co/WeIDYUWxFD — PolitiTweet.org

Paul Krugman @paulkrugman

By now I shouldn't be shocked at Trump's insecure narcissism — everything good is to his credit, everything bad is someone else's fault — but it still amazes, as does the fact that millions of people actually admire him 1/ https://t.co/tq9Akuqt8a — PolitiTweet.org

Paul Krugman @paulkrugman

Farmers thought Trump was their kind of guy, but he has predictably done them vast harm — and not so secretly holds them in contempt https://t.co/k5fSdC17d8 — PolitiTweet.org

Paul Krugman @paulkrugman

What I wrote when she died 2/ https://t.co/YrUBsKlvuy — PolitiTweet.org

Paul Krugman @paulkrugman

Haven't seen the movie, but I can't wait. Molly Ivins was awesome, inspiring, and funny as hell. (I wonder if the film explains how she got fired by the NY Times) 1/ https://t.co/COhYbHQcm3 — PolitiTweet.org

Paul Krugman @paulkrugman

Moreover, he did it precisely in the hope of giving markets a lift, because he desperately wants good news. I guess this is what now passes for economic strategy 2/ — PolitiTweet.org

Paul Krugman @paulkrugman

The boy who cried "No wolf!" When Trump said the Chinese had called and said they wanted to resume trade talks, he was basically making stuff up 1/ https://t.co/WUd7ZGk77s — PolitiTweet.org

Paul Krugman @paulkrugman

A picture is worth a thousand basis points (of tariff increase) https://t.co/fh2Hha8yH7 https://t.co/2KQ67IvYg4 — PolitiTweet.org

Paul Krugman @paulkrugman

With Trump tweeting insults at Puerto Rico as a storm approaches, worth noting that past studies have found that Puerto Rico receives *less* net aid from federal government per capita than many states https://t.co/xnD5XMoiwt https://t.co/RwzvP6hxeM — PolitiTweet.org

Paul Krugman @paulkrugman

Trump had a remarkably long honeymoon on the economy. But glum reality seems to be setting in 6/ — PolitiTweet.org

Paul Krugman @paulkrugman

And it's not just the bond market. Polling is starting to show public pessimism about the direction of the economy, although this isn't showing up in spending (yet) 5/ https://t.co/7Esgywn5IH — PolitiTweet.org

Paul Krugman @paulkrugman

They're finally admitting that the tax cut was a fizzle, that the brief sugar high is over. And they're finally realizing that Trump is serious about trade war, and maybe just now noticing how far he's going 4/ https://t.co/nQIu15Fyxq — PolitiTweet.org

Paul Krugman @paulkrugman

I think we have to be fair and acknowledge that it might be a bubble: people buying bonds bc others are buying bonds. But I think it's more about investors finally capitulating on the reality of Trumpism 3/ — PolitiTweet.org

Paul Krugman @paulkrugman

The yield curve inversion is because the Fed hasn't followed long rates all the way down (yet); but it's the rate plunge that's telling you about economic sentiment. So what's going on? 2/ — PolitiTweet.org

Paul Krugman @paulkrugman

People are talking a lot about the inverted yield curve but not, I think, enough about the reason the curve inverted: the incredible plunge in long-term rates, from 3.2% last fall to just 1.45% this morning. That represents a huge shift toward economic pessimism 1/ — PolitiTweet.org