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Paul Krugman @paulkrugman

And any notion that the Tea Party failed in its objectives is nonsense. It was all about racial animosity; and now they have a president who legitimizes and feeds that animosity. They don't care about deficits, and never did 3/ — PolitiTweet.org

Posted Aug. 28, 2019 Hibernated
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Paul Krugman @paulkrugman

Academic research confirms the obvious. The idea that the Tea Party had something to do with notions of fiscal responsibility was a fairy tale told by centrists who didn't want to acknowledge the true ugliness of the modern U.S. right. 2/ https://t.co/mEcIh8wqgY — PolitiTweet.org

Brendan Nyhan @BrendanNyhan

Evidence from Michael Tesler's Post-Racial or Most-Racial on how the Tea Party was actually highly racialized and l… https://t.co/uXgphJ09TB

Posted Aug. 28, 2019 Hibernated
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Paul Krugman @paulkrugman

Oh, God. Are we still pretending that the Tea Party was about small government and concern about budget deficits? It was always, from the beginning, about racial anger; opposition to big government only to the extent that it helps Those People 1/ https://t.co/TI90hLoMsQ — PolitiTweet.org

Posted Aug. 28, 2019 Hibernated
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Paul Krugman @paulkrugman

Good and easy to win https://t.co/LnwJiTmmnd — PolitiTweet.org

Posted Aug. 27, 2019 Hibernated
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Paul Krugman @paulkrugman

Tell me again why farmers voted for a guy who loves trade wars? https://t.co/HH6Tm3D1Of — PolitiTweet.org

Posted Aug. 27, 2019 Hibernated
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Paul Krugman @paulkrugman

So farmers were voting for someone almost certain to make them poorer. They were also voting for people who despise them, although they'll be the last to admit that they were fooled 4/ — PolitiTweet.org

Posted Aug. 27, 2019 Hibernated
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Paul Krugman @paulkrugman

Economically, however, agriculture is one of our most globalized sectors, hugely dependent on export markets, and China in particular. Unlike traditional manufacturing, it has been a huge beneficiary from globalization 3/ — PolitiTweet.org

Posted Aug. 27, 2019 Hibernated
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Paul Krugman @paulkrugman

Demographically, rural America is MAGA embodied: still overwhelmingly white, relatively few immigrants — looks like America in the 1950s 2/ https://t.co/hpVm94S9g9 — PolitiTweet.org

Posted Aug. 27, 2019 Hibernated
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Paul Krugman @paulkrugman

Rural support for Trump was always based in large part on farmers' misunderstanding of their own interests 1/ https://t.co/Iql1qvfoBK — PolitiTweet.org

Posted Aug. 27, 2019 Hibernated
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Paul Krugman @paulkrugman

What surprises me is the way stocks bounce back at any hint of Trump sanity. It's the repeated triumph of hope over experience https://t.co/lE2GTzQcYF https://t.co/xLgndJ2cgN — PolitiTweet.org

Posted Aug. 27, 2019 Hibernated
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Paul Krugman @paulkrugman

The US is getting close to Smoot-Hawley level tariffs on China. China's response has been surprisingly measured so far https://t.co/YWI9AXh7rL — PolitiTweet.org

Posted Aug. 27, 2019 Hibernated
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Paul Krugman @paulkrugman

What's Trump's policy? Nobody knows, him least of all, and that's a big problem for the economy https://t.co/h5Esacr37h — PolitiTweet.org

Posted Aug. 27, 2019 Hibernated
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Paul Krugman @paulkrugman

RT @nytopinion: "The 'very stable genius' in the Oval Office is, in fact, extremely unstable, in word and deed," says @PaulKrugman. "And hi… — PolitiTweet.org

Posted Aug. 26, 2019 Retweet Hibernated
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Paul Krugman @paulkrugman

RT @GC_CUNY: Are we headed toward a recession? @paulkrugman weighs in on @cunytv and shares one proposal he says could help the economy htt… — PolitiTweet.org

Posted Aug. 26, 2019 Retweet Hibernated
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Paul Krugman @paulkrugman

Actually Paul Waldman .... — PolitiTweet.org

Posted Aug. 26, 2019 Hibernated
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Paul Krugman @paulkrugman

Serious question about the trade war: what does Trump even want from China? What are the demands any Chinese government could possibly meet? (The bilateral trade balance isn't a policy variable) What would "winning" even look like? — PolitiTweet.org

Posted Aug. 26, 2019 Hibernated
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Paul Krugman @paulkrugman

But what it does do is frighten *US business*, which doesn't know where Trump will go next. The result is to freeze plans for business expansion and depress our own economy. 4/ — PolitiTweet.org

Posted Aug. 26, 2019 Hibernated
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Paul Krugman @paulkrugman

For it isn't working as a way of pressuring China; as Greg Sargent says, Trump has zero understanding of the political economy (and even Greg doesn't mention the importance of Chinese nationalism) 3/ https://t.co/uQenVQQoQR — PolitiTweet.org

Posted Aug. 26, 2019 Hibernated
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Paul Krugman @paulkrugman

The idea was that this would make foreign adversaries cautious. A questionable theory even in context. But on trade policy it's an utter disaster 2/ — PolitiTweet.org

Posted Aug. 26, 2019 Hibernated
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Paul Krugman @paulkrugman

Showing my age: I've been thinking about Trump's approach to trade in terms of Nixon's "madman strategy" in foreign affairs: make people uncertain about how far you'll go as a negotiating tactic 1/ — PolitiTweet.org

Posted Aug. 26, 2019 Hibernated
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Paul Krugman @paulkrugman

I knew that the G7 would be psychologically hard on Trump, bc it wouldn't let him engage in dominance displays. I didn't expect such a blatant, painful-to-watch retreat into a fantasy world https://t.co/3cir5DzFUz — PolitiTweet.org

Posted Aug. 25, 2019 Hibernated
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Paul Krugman @paulkrugman

And if he's reelected it will be completely unrestrained crony capitalism — except the potential cronies won't want to put money down just yet, in case he isn't. Erratic authoritarians are bad for business, and business may be figuring that out 8/ — PolitiTweet.org

Posted Aug. 25, 2019 Hibernated
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Paul Krugman @paulkrugman

How many businesses will start to wonder whether Trump will "hereby declare" that something they spent billions on is no longer allowed? He doesn't really have that authority, but has a lot of power to muck things up 7/ — PolitiTweet.org

Posted Aug. 25, 2019 Hibernated
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Paul Krugman @paulkrugman

So it's really bad to have a president whose policy is based on his fluctuating moods, which in turn depend on what he saw on TV a few minutes ago. And this effect may extend beyond trade. 6/ — PolitiTweet.org

Posted Aug. 25, 2019 Hibernated
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Paul Krugman @paulkrugman

What depresses demand and employment is *uncertainty*. Businesses that depend on imports and/or foreign markets don't want to invest bc Trump might expand trade war' businesses that compete with imports don't invest bc he might not. 5/ — PolitiTweet.org

Posted Aug. 25, 2019 Hibernated
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Paul Krugman @paulkrugman

Case in point: Britain in the 1950s had high tariffs (>25 percent) https://t.co/Tb59kS4U9K but low unemployment 4/ https://t.co/HogL7pauHu — PolitiTweet.org

Posted Aug. 25, 2019 Hibernated
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Paul Krugman @paulkrugman

The point is that while a stable protectionist regime makes an economy inefficient, it doesn't necessarily make it depressed. Fewer jobs in export industries, but more jobs in import-competing industries 3/ — PolitiTweet.org

Posted Aug. 25, 2019 Hibernated
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Paul Krugman @paulkrugman

There are two aspects to this story. One is that Trump really is melting down at the first hint of adversity. The other is that this kind of behavior is arguably more damaging than straightforward protectionism 2/ — PolitiTweet.org

Posted Aug. 25, 2019 Hibernated
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Paul Krugman @paulkrugman

The art of the flail: it seems as if Trump got spooked by market reaction to his tariffs, started to back down, then got furious over reports that he was backing down and reversed course again 1/ https://t.co/0HGdrdVUDs — PolitiTweet.org

Posted Aug. 25, 2019 Hibernated
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Paul Krugman @paulkrugman

A thought: for someone like Trump, who lives for dominance displays — for "winning" and humiliating others — the G7 is a nightmare: a meeting of equals to discuss collective action to solve shared problems. And with things not so good at home, chance of an outburst high — PolitiTweet.org

Posted Aug. 24, 2019 Hibernated