Paul Krugman

Paul Krugman @paulkrugman

These two episodes, combined with the response of more mainstream hard-money types to the Moore nomination – either endorsement or silence – suggest to me that we need to reevaluate what all that inflation fear mongering was about 2/ — PolitiTweet.org

Paul Krugman @paulkrugman

After the Stephen Moore debacle, Trump is once again, with Judy Shelton, trying to install a Fed governor who warned repeatedly and wrongly about easy money causing runaway inflation during the financial crisis, but is now on board with slashing interest rates for Trump 1/ — PolitiTweet.org

Paul Krugman @paulkrugman

Of course, this doesn't fit with a white-superiority worldview. Neither does the reality that one of the main factors sustaining at least some small cities is ... immigration 4/ — PolitiTweet.org

Paul Krugman @paulkrugman

The reality is that while yes, there is homelessness, and it's terrible, big cities are in relatively good shape these days, while social collapse, with surging mortality from deaths of despair, is taking place in much of white, rural America. 3/ — PolitiTweet.org

Paul Krugman @paulkrugman

But I think there's a broader context to his delusions. Remember his "American carnage" inaugural address? In Trump's vision, American cities are in a state of social collapse – because that's what he remembers from his youth. In his head, it's always 1975 2/ — PolitiTweet.org

Paul Krugman @paulkrugman

A lot of people baffled by Trump's assertion that homelessness is a problem that started two years ago, and that he might do "something" about it. Look, this is the guy who thinks "Western liberalism" means San Francisco 1/ https://t.co/xH5ws5fY1g — PolitiTweet.org

Paul Krugman @paulkrugman

I'm sure that the military is desperately looking for some way NOT to put tanks in Trump's parade. Have they considered finding a doctor to declare that the tanks have bone spurs? — PolitiTweet.org

Paul Krugman @paulkrugman

OK, this is actual good news. Draghi was amazingly good, but Lagarde has been intellectually flexible at the IMF, which bodes well for the ECB – certainly compared with some of the hard-liners out there https://t.co/yNsZrLG2IH — PolitiTweet.org

Paul Krugman @paulkrugman

I thought wasps were supposed to stay in upscale suburbs, drinking martinis. Seriously, this report really creeps me out. https://t.co/nyuTdijQzM — PolitiTweet.org

Paul Krugman @paulkrugman

RT @BrankoMilan: Neoliberals and the center-right have now for a decade agreed that s'thing has to be done to reduce inequality of wealth &… — PolitiTweet.org

Paul Krugman @paulkrugman

Also, what does his neo-Confederate base think about honoring the man who burned his way across Georgia and the Carolinas? All in a good cause, of course – indeed the best of causes. — PolitiTweet.org

Paul Krugman @paulkrugman

Do you think it's wrong for the rich to help subsidize the poor? Someone tell Mitch McConnell's constituents in Kentucky, who effectively receive huge aid from rich blue states https://t.co/6ZsbxpJL5m — PolitiTweet.org

Paul Krugman @paulkrugman

Anyone who thinks that Dems will be punished for moving left on economics should be at least vaguely aware that the public is way to the left of the Beltway consensus https://t.co/nTzOuv2fOU — PolitiTweet.org

Paul Krugman @paulkrugman

RT @JRubinBlogger: Biden needs to smile more, show he's likable and electable or he'll never snag the vp spot on the @KamalaHarris ticket. — PolitiTweet.org

Paul Krugman @paulkrugman

Of course, American are now getting both shorter and heavier, which is new in history, I think 3/ https://t.co/XG0EsFJOWg — PolitiTweet.org

Paul Krugman @paulkrugman

But didn't something like this happen in the 19th century too? Brits and Americans also seem to have gotten shorter and less healthy for several decades even as real incomes rose. It was only with modern public sanitation etc that this turned around 2/ https://t.co/16ZuXYOWrM — PolitiTweet.org

Paul Krugman @paulkrugman

Via @delong, the Roman Empire was remarkably rich at its peak – and also remarkably unhealthy. Basically, Roman life was kinda nice, civilized – and short. Probably bc cities were unhealthy, and infectious disease rampant 1/ https://t.co/yNe6fFqm4J — PolitiTweet.org

Paul Krugman @paulkrugman

RT @mattyglesias: Thanks to structural class bias nobody ever publishes the “I want to punish Democrats for their increasing cultural liber… — PolitiTweet.org

Paul Krugman @paulkrugman

The irony, of course, is that voters in these states support a political party that is determined to destroy this whole system. A low-tax, low-benefit federal government would basically leave WV, KY, AL, MI economic wastelands 6/ — PolitiTweet.org

Paul Krugman @paulkrugman

The result is that we engage in huge redistribution to poor states. This redistribution doesn't just support incomes, it supports jobs: people spend that money on health care, social services, retail. We don't explicitly aid declining regions, but in practice we do, massively 5/ — PolitiTweet.org

Paul Krugman @paulkrugman

Of course, this means that poor states receive much more federal money as a % of income. Meanwhile, rich states pay more in federal taxes -- a lot more, around 1.4% more for each 1% rise in income, so that the proportion of income rises too 4/ — PolitiTweet.org

Paul Krugman @paulkrugman

The feds spend slightly more per capita in poor states, presumably bc of means-tested programs like Medicaid and food stamps (and the Medicaid formula also means the feds pay a higher proportion in poor states) 3/ — PolitiTweet.org

Paul Krugman @paulkrugman

It's actually pretty simple. Take a cross-section of states, excluding DC, VA, MD bc of federal government and AK bc it's weird. Look at federal outlays and receipts per capita versus income per capita 2/ https://t.co/KBCCJ153Mn — PolitiTweet.org

Paul Krugman @paulkrugman

I've been wonking out a bit over this figure from the Rockefeller Institute, showing rich states in the Northeast heavily subsidizing Trump states. What underlies it? 1/ https://t.co/QhsfjNJ68R — PolitiTweet.org

Paul Krugman @paulkrugman

NY, NJ, CT, MA massively subsidize Trump states, basically because those states receive the full benefits of Medicare, Social Security, etc. while paying relatively little in federal taxes. Which is OK, because we're all Americans – or at least that's how libs see it 2/ — PolitiTweet.org

Paul Krugman @paulkrugman

Thinking about this line from Bret Stephens: "They pay few or no taxes. We already pay most of those taxes" in the context of the federal balance of payments – how much states receive from the Feds minus how much they pay in 1/ https://t.co/o1Gvy3ooRR https://t.co/QbSJXRbl04 — PolitiTweet.org

Paul Krugman @paulkrugman

RT @AdamSerwer: Trump thinks “Western-style liberalism” refers to liberals on the West Coast, not the form of government of the country he… — PolitiTweet.org

Paul Krugman @paulkrugman

And yes, if you're wondering, Joe Biden has long been one of those Serious People, with a long history of advocating SS cuts. To be fair, he's also been a determined opponent of privatization. But he really is to the right of a lot of his party 4/ https://t.co/CCNZZQpNQE — PolitiTweet.org

Paul Krugman @paulkrugman

Which makes it interesting that literally for decades Very Serious People have been saying that we need to raise the retirement age, when life expectancy of this group has been falling, not rising. And they're the people who rely on SS most 3/ https://t.co/n583nbEvEz — PolitiTweet.org

Paul Krugman @paulkrugman

The decline between those, especially men, born in the 40s and those born in the 60s is remarkable and disturbing 2/ https://t.co/r9KSXGBUQg — PolitiTweet.org