Paul Krugman

Paul Krugman @paulkrugman

So what was SVB selling? As far as I can tell, it was just unusually good at cultivating relationships with, um, Silicon Valley, specifically VC. Maybe it should have been called Schmoozing and Vibes Bank 4/ — PolitiTweet.org

Paul Krugman @paulkrugman

To be fair, deposits rose a lot all across the banking system, but SVB's rise was much faster 3/ https://t.co/6LYfDxrQsm — PolitiTweet.org

Paul Krugman @paulkrugman

SVB was founded 40 years ago, but its big expansion is much more recent; deposits surged during the pandemic 2/ https://t.co/ChCrxRc5iR — PolitiTweet.org

Paul Krugman @paulkrugman

OK, some very early morning thoughts on SVB, and why it probably isn't a harbinger for the banking system as a whole — why this is unlikely to be another Lehman moment 1/ — PolitiTweet.org

Paul Krugman @paulkrugman

This is basically a clarion call for Biden to mint the coin, or something comparable. You don't get to make demands like this when you narrowly control one house of Congress — PolitiTweet.org

Paul Krugman @paulkrugman

But right now the data are saying "soft landing". Which I guess means that Tuesday's CPI will be awful, given the way things have been going 3/ — PolitiTweet.org

Paul Krugman @paulkrugman

Risks: we may be sucker-punched by yet another big revision in wage numbers, and inflation will look problematic. Or we may get hit with a sudden decline in construction jobs as lagged effects of rate hikes hit 2/ — PolitiTweet.org

Paul Krugman @paulkrugman

This is a very good summary of where the labor market seems to be. On every measure except JOLTS job offerings, it basically looks just like the market on the eve of the pandemic. 1/ https://t.co/0OycAX03Zg — PolitiTweet.org

Paul Krugman @paulkrugman

Markets seem to think this was a dovish report https://t.co/qaGKnxQ9gw — PolitiTweet.org

Paul Krugman @paulkrugman

As I see it, 4 recent indicators of labor market hotness: 1. JOLTS openings 2. quits 3. private openings 4. AHE. The last 3 all suggest substantial cooling — PolitiTweet.org

Paul Krugman @paulkrugman

My view too. But with the caveat that we've been jerked around by data revisions so much that I take every report on AHE with a whole shaker of salt — PolitiTweet.org

Paul Krugman @paulkrugman

Why are Republicans still pushing the old nonsense? https://t.co/94uVv79fyq — PolitiTweet.org

Paul Krugman @paulkrugman

Economy probably still running unsustainably hot. I can see the case for 50 from the Fed, but also the case for not, and honestly it probably doesn't matter much. What matters are market expectations about future Fed policy, which will largely be driven by data 3/ — PolitiTweet.org

Paul Krugman @paulkrugman

You might think that Friday's job report will provide clarity. But revisions have been so large lately, especially on wage growth, that we'll have to take it with a few tablespoons of salt. Also JOLTS now has a terrible response rate 2/ — PolitiTweet.org

Paul Krugman @paulkrugman

I have a few minutes, so some thoughts on tea-leaf reading. JOLTS came in ... confusing, with openings barely down but quits down substantially. So the labor market either isn't cooling or it is. Fwiw, private job openings measures do suggest cooling 1/ — PolitiTweet.org

Paul Krugman @paulkrugman

And tweeting got results. A representative called and we seem to be up again. — PolitiTweet.org

Paul Krugman @paulkrugman

Too busy to tweet. But not to vent. I've been using Venmo for years, but now it won't allow me to make payments. I spent a long time in chat with representatives, and they told me that they can't explain why — or fix it. The software has taken control. — PolitiTweet.org

Paul Krugman @paulkrugman

RT @nytopinion: The past few years have proved that modern economies have turned out not to be nearly as flexible as many people had though… — PolitiTweet.org

Paul Krugman @paulkrugman

Yes, and it's the right way to go. But notice that this is only Medicare Part A, hospital insurance. The same approach can deal with the overall social insurance problem, but only with more taxes. Probably can't do it all without hitting some people <400K — PolitiTweet.org

Paul Krugman @paulkrugman

If you were looking at housing starts you'd think there was a significant slowdown in process. But employment hasn't declined at all. I honestly don't know quite what's happening, but surely this is a large part of the mystery 2/ — PolitiTweet.org

Paul Krugman @paulkrugman

The most puzzling chart in economics right now. Much speculation about why Fed hikes haven't done much to slow the economy, but too much focuses on businesses and consumers; housing is where monetary policy usually has the most traction 1/ https://t.co/EooSoJXDdf — PolitiTweet.org

Paul Krugman @paulkrugman

On inflation, fog gets in your eyes https://t.co/tpRACd7gwN — PolitiTweet.org

Paul Krugman @paulkrugman

Dear everyone: it’s “rein in” like a horse, not reign in like a monarch — PolitiTweet.org

Paul Krugman @paulkrugman

RT @ThePlumLineGS: The repulsive campaign by the right to racialize the East Palestine disaster gets the @paulkrugman treatment. Good colum… — PolitiTweet.org

Paul Krugman @paulkrugman

And the most important "anti-regulation" stance is a pledge to prevent federal rules that would block local attempts to, um, regulate housing by allowing only single-family structures 3/ — PolitiTweet.org

Paul Krugman @paulkrugman

Curious fact about that proposal, which says something about the current GOP: it mentions "regulation" only 12 times, compared with 16 for "critical race theory" and 77 for "woke" 2/ https://t.co/ujMOaGkfMR — PolitiTweet.org

Paul Krugman @paulkrugman

Russell Vought is the new Rick Scott: Biden going after widely circulated budget proposal that spares Medicare/Social Security but savages Medicaid 1/ https://t.co/9utTuViNQU — PolitiTweet.org

Paul Krugman @paulkrugman

We need a name for conspiracy theories that don't even explain what evil things the conspirators are doing https://t.co/WtPcusLf6i — PolitiTweet.org

Paul Krugman @paulkrugman

RT @nytopinion: “The right is on the attack,” @paulkrugman writes, “claiming that blame for the disaster in Ohio rests on the Biden adminis… — PolitiTweet.org

Paul Krugman @paulkrugman

Of course this is silly. It’s really a Habsburg conspiracy (that’s actually out there) to destroy Russia, restore the Holy Roman Empire, and force everyone to eat schnitzel — PolitiTweet.org