Paul Krugman

Paul Krugman @paulkrugman

The economic numbers are having an argument https://t.co/kbbG0aZlJK — PolitiTweet.org

Paul Krugman @paulkrugman

This suggests that Mr. Market expects tomorrow to be the last ugly inflation report for a while — PolitiTweet.org

Paul Krugman @paulkrugman

Yields on TIPS due in roughly a year have been rising fast https://t.co/L6mJHUJMkU — PolitiTweet.org

Paul Krugman @paulkrugman

Important. Tomorrow's report may miss a lot of what's happening. Gas prices have more to fall — wholesale down much more than retail so far. Lots of talk about retailer discounts, probably not in data yet — PolitiTweet.org

Paul Krugman @paulkrugman

Having some productivity issues here https://t.co/CFo5vV2rKU — PolitiTweet.org

Paul Krugman @paulkrugman

How a very dubious industry bought itself the appearance of respectability https://t.co/YxLdBwvDgZ — PolitiTweet.org

Paul Krugman @paulkrugman

Somewhat shocked by how many news reports focus on the 1-year number, which everyone knows is basically the (lagged) price of gasoline and ignore the important news on medium term. I guess runaway inflation is the narrative, not to be challenged 4/ — PolitiTweet.org

Paul Krugman @paulkrugman

RT @BrendanNyhan: 🙃 — PolitiTweet.org

Paul Krugman @paulkrugman

Again, I'm seriously puzzled. UKR evidently having a lot of success blowing up ammo dumps etc in RUS rear areas, but are there tricks that would let them regain ground? 4/ — PolitiTweet.org

Paul Krugman @paulkrugman

What we saw instead was massive artillery barrages turning segments of the front into moonscapes, infantry moving in to occupy the devastation, but no ability to exploit the gaps. What could UKR do differently? 3/ — PolitiTweet.org

Paul Krugman @paulkrugman

Serious question. I think a lot of us imagine WW2-style blitzkriegs: use firepower to blow holes in the enemy line, rush armored columns thru the gaps, and encircle foe in cauldrons. That was what many initially predicted for RUS offensive in Donbas 2/ — PolitiTweet.org

Paul Krugman @paulkrugman

Really interesting and hope it's true. But as a layman (albeit one who reads a lot of mil history), my question: what would a UKR offensive look like? 1/ — PolitiTweet.org

Paul Krugman @paulkrugman

Kind of funny how much those marxists at Goldman sound like EPI 3/ https://t.co/gl5vMi3jDK — PolitiTweet.org

Paul Krugman @paulkrugman

And Goldman Sachs (no link) notes that wage growth is decelerating notably, 2/ https://t.co/QZzzsluOPq — PolitiTweet.org

Paul Krugman @paulkrugman

Remember when the Fed was spooked by a jump in the medium-term inflation number from the Michigan survey, revised away soon after? Now the NY Fed survey shows medium-term expectations falling 1/ https://t.co/UiUgpLFbDt — PolitiTweet.org

Paul Krugman @paulkrugman

RT @econjared46: @arindube @paulkrugman Agree! Great, nuanced analysis by @paulkrugman and @arindube. But what's missing is the picture of… — PolitiTweet.org

Paul Krugman @paulkrugman

RT @arindube: Really worthwhile @paulkrugman column. I have been making this point for a while. The 🚀 + 🪶 phenomenon of asymmetric pass t… — PolitiTweet.org

Paul Krugman @paulkrugman

Brainard is probably right in saying that crypto hasn't gotten big enough — or leveraged enough — to pose major systemic risks. But a lot of people have been financially ruined thanks to the failure to rein this thing in earlier 4/ — PolitiTweet.org

Paul Krugman @paulkrugman

The thing is, this free-for-all of hype and scams briefly created a $3 trillion asset class. Where were the regulators? I suspect that when the full story comes out, it's going to involve not just ignorance but a fair amount of corruption 3/ https://t.co/xfGl7NGs2F — PolitiTweet.org

Paul Krugman @paulkrugman

It's right there at the top. Brainard in effect suggests that in addition to the dotcom-ish hype, crypto has the worst elements of shadow banking — "innovation" that's less about doing something productive than about evading prudential regulation 2/ https://t.co/YauZlKe8lq — PolitiTweet.org

Paul Krugman @paulkrugman

Reading Lael Brainard's call for crypto regulation. For a document necessarily written in Fedspeak, it's remarkably scorching 1/ https://t.co/HIzGS58we2 — PolitiTweet.org

Paul Krugman @paulkrugman

Then, once RUS had established big ammo depots close behind the front to support the artillery-based offensive, unleash those long range weapons over the space of just a few days, destroying huge quantities of munitions 2/ — PolitiTweet.org

Paul Krugman @paulkrugman

Not my field. But isn't it starting to look as if UKR has pulled off a kind of strategic ambush? Give ground grudgingly in the face of massive RUS artillery barrages while avoiding encirclement, meanwhile accumulating Western long range weapons 1/ — PolitiTweet.org

Paul Krugman @paulkrugman

Back then unsupported claims of a debt crisis were used to promote fiscal austerity. Now unsupported claims of lost Fed credibility are being used to promote monetary austerity. So it's important to recognize when a narrative has no evidence behind it 7/ — PolitiTweet.org

Paul Krugman @paulkrugman

Remember this from the WSJ? 6/ https://t.co/64foZJcweh — PolitiTweet.org

Paul Krugman @paulkrugman

What all this reminds me of is the period around 2009-10 when every uptick in long-term interest rates was attributed to fears about excessive debt — an attribution often stated as fact, not even a hypothesis — without a shred of evidence 5/ — PolitiTweet.org

Paul Krugman @paulkrugman

Incidentally, even short-term inflation expectations seem to have come down a fair bit lately. Look at the yield on TIPS coming due about a year from now, which is way up — i.e., investors willing to pay less for inflation protection 4/ https://t.co/EGgugSyoOu — PolitiTweet.org

Paul Krugman @paulkrugman

A lot of this article seems to key off the BOE's Bailey saying that he can't control near-term inflation driven by energy and supply-chain shocks — which is not at all the same thing as a loss in long-term credibility 3/ — PolitiTweet.org

Paul Krugman @paulkrugman

Every bit of data we have — including the data in the article — says that investors in fact believe that the Fed can and will control inflation. We can measure this directly by looking at breakevens on TIPS: 2/ https://t.co/JvK1ZLkrVG — PolitiTweet.org

Paul Krugman @paulkrugman

Every once in a while financial media seem to settle on a narrative that they maintain despite lack of evidence — or even in the teeth of contrary evidence. So I was struck by this in the FT 1/ https://t.co/jzDRZSpJ44 — PolitiTweet.org