Paul Krugman

Paul Krugman @paulkrugman

Interesting point: for a while the bond market seemed to think that Trump would bring higher economic growth. That "Trump bump" has now entirely evaporated 1/ https://t.co/sV3oAlsaGA — PolitiTweet.org

Paul Krugman @paulkrugman

Translation: I got so little in return for all my threats that I have to make up imaginary victories (there was no deal on agricultural products) https://t.co/0iOQ5Zv8cv — PolitiTweet.org

Paul Krugman @paulkrugman

In general, these kinds of divergences tend to happen near turning points. As Jason notes, the last time we had a comparable divergence between GDP and GDI was at the start of the Great Recession. NOT calling recession now, but things may be weaker than they appear 3/ — PolitiTweet.org

Paul Krugman @paulkrugman

This seems closely related to an observation by @jasonfurman. We also have two measures of the economy's output, and the less-often-cited one – which still contains some information – is looking much weaker than the headlines 2/ https://t.co/l38hxp0QTk — PolitiTweet.org

Paul Krugman @paulkrugman

This is an important point from @BetseyStevenson. We have two measures of employment growth; NFP is generally considered better, but there's some information in the other, and it's showing much more weakness 1/ https://t.co/ZoWrRd07sj — PolitiTweet.org

Paul Krugman @paulkrugman

This might end up being a Mexico scenario: sound and fury, ending with a de facto Trump climbdown that he pretends is a victory. But CA Democrats may be less willing than AMLO to give Trump even a symbolic "tweetable delivery". 4/ — PolitiTweet.org

Paul Krugman @paulkrugman

For now, at least, it looks as if the desire to own the libs (and destroy Obama's legacy) is dominating the profit motive: even with the whole industry pleading with Trump to back down and make a deal, he's determined to Make Smog Great Again 3/ https://t.co/lEMN2tVzDl — PolitiTweet.org

Paul Krugman @paulkrugman

What we're seeing on auto emissions is an illustration of how these motivations can end up coming into conflict. Auto companies wanted looser regulation, but not a total reversal and a destructive conflict between Trump and California 2/ https://t.co/TlIIJlmyCS — PolitiTweet.org

Paul Krugman @paulkrugman

I've written on several occasions that the politics of climate change were a sort of dress rehearsal for Trumpism in general. You have the same combination of corruption with adolescent belligerence: it's both about giving money to big donors and owning the libs 1/ — PolitiTweet.org

Paul Krugman @paulkrugman

As far as I can tell the Mexican standoff has ended, for now, pretty much along the lines of NAFTA/USMCA: Trump huffed and puffed, US business managed to convey the message that a trade war would be a disaster, and he basically caved while pretending that he won — PolitiTweet.org

Paul Krugman @paulkrugman

But still, if you imagine that being rich enough to have anything you want, any time you want it, would make you happy, you're almost surely wrong. Limits are part of what makes life worth living. And the big question is, will those peaches be ripe by morning? 8/ — PolitiTweet.org

Paul Krugman @paulkrugman

Does this have any policy implications? Probably not. What really really matters is being able to afford health care, decent housing, and good education; the things I'm talking about are trivial. 7/ — PolitiTweet.org

Paul Krugman @paulkrugman

The textbooks (mine included) tell you that more choice is always better. But a lot of things gain value precisely because they aren't an option most of the time. I'd probably get tired of fresh figs and mangoes if I could get them all year round. 6/ — PolitiTweet.org

Paul Krugman @paulkrugman

Are these fruits better than other fruits? Objectively, no. What makes them so great now is precisely the fact that you can't get them most of the year. And that, of course, tells you that standard consumer choice theory is all wrong 5/ — PolitiTweet.org

Paul Krugman @paulkrugman

So one of the best things about coming home is that some seasonal fruits -- things that aren't available all year round, at least in version you'd want to eat – have arrived. Mangoes! Fresh figs! 4/ — PolitiTweet.org

Paul Krugman @paulkrugman

The other piece of background is that I'm really into breakfast. I start almost every day with fairly brutal exercise – i'm 66 and fighting it; today that meant an hour-long run in the park. Breakfast, usually starting with yoghurt and fruit, is the reward 3/ — PolitiTweet.org

Paul Krugman @paulkrugman

OK, two pieces of background. I recently got back from almost a month in Europe, cycling and vacationing, and while it's nice to not be living out of a suitcase, the adjustment back to reality is proving a bit harder than in the past, for a variety of reasons 2/ — PolitiTweet.org

Paul Krugman @paulkrugman

Look, the planet and the Republic are both in grave danger, possibly doomed. But it's Friday night, I've just had a couple of glasses of wine, so I'm going to talk briefly about ... fruit and economic theory 1/ — PolitiTweet.org

Paul Krugman @paulkrugman

RT @jasonfurman: Here is the puzzling/troubling trend line on nominal wage growth. This could all turn out to have been noise in the data,… — PolitiTweet.org

Paul Krugman @paulkrugman

RT @Neil_Irwin: The new numbers are the clearest evidence yet that the economic slowdown isn’t a figment of the bond market’s imagination,… — PolitiTweet.org

Paul Krugman @paulkrugman

Can we now say that USITC's analysis was politicized and not credible? Because it sure looks that way given what we know now? 6/ — PolitiTweet.org

Paul Krugman @paulkrugman

So it's kind of ironic that the official report predicting gains from moving from NAFTA to the Village People agreement, I mean USMCA, depends ENTIRELY on the claim that it would reduce "policy uncertainty" 5/ https://t.co/yhCTlQprbJ — PolitiTweet.org

Paul Krugman @paulkrugman

What mattered was that NAFTA gave manufacturers certainty (or so they though): a guaranteed regime that let them plan border-spanning value chains 4/ — PolitiTweet.org

Paul Krugman @paulkrugman

And Mexico did its big liberalization in the 1980s, not as part of NAFTA or even the runup to the deal 3/ https://t.co/fVMchEPbwX — PolitiTweet.org

Paul Krugman @paulkrugman

Worth noting that NAFTA didn't do that much to reduce tariffs, which were already low – US tariffs on Mexico were low before the agreement 2/ https://t.co/HdeQPdfGXt https://t.co/SLPh4Ylr2Y — PolitiTweet.org

Paul Krugman @paulkrugman

Whatever Trump actually does on tariffs, his what-you-call-a-binding-agreement-I consider-a-suggestion approach is already creating huge, consequential uncertainty 1/ https://t.co/M36TXvp7Po — PolitiTweet.org

Paul Krugman @paulkrugman

Except for attacking Nancy Pelosi while standing in front of U.S. graves in Normandy, this may have been Trump's worst move in Europe https://t.co/XRab5Hgn6h — PolitiTweet.org

Paul Krugman @paulkrugman

So, how's the attempt to end trade deficits with tariffs going? https://t.co/9MR48ST1q5 — PolitiTweet.org

Paul Krugman @paulkrugman

75 years ago https://t.co/Zhb36SITSv — PolitiTweet.org

Paul Krugman @paulkrugman

RT @theta_thot: Conservapedia is amazing. https://t.co/RrG1frueO7 — PolitiTweet.org