Paul Krugman

Paul Krugman @paulkrugman

This seems imp for two reasons. One is that scare stories were way overblown (and boy, did some of us get grief for suggesting that a few weeks ago). The other is that those early orders probably mean bullwhip effect — a lot of supply chain easing ahead https://t.co/sgCMYAb99m — PolitiTweet.org

Paul Krugman @paulkrugman

RT @MineWorkers: "We urge Senator Manchin to revisit his opposition to this legislation and work with his colleagues to pass something that… — PolitiTweet.org

Paul Krugman @paulkrugman

Is it just me, or has there been very little reporting on the bond market's apparent decision that the big inflation scare was mostly a false alarm? Of course the market could be wrong, but still interesting https://t.co/6sY6E8VAwf — PolitiTweet.org

Paul Krugman @paulkrugman

While Joe Manchin is using "staggering" debt as an excuse to block social programs and climate action, serious economists are finding that debt is a vastly overrated concern. Olivier Blanchard's book will be must reading https://t.co/JuRTU12gpm — PolitiTweet.org

Paul Krugman @paulkrugman

RT @ThePlumLineGS: This is a good point-by-point rebuttal to Joe Manchin's economic arguments against BBB, from @paulkrugman: https://t.co… — PolitiTweet.org

Paul Krugman @paulkrugman

I really didn't want my last col of the year to be about Joe Manchin, but he left me no choice https://t.co/KNYJng3wH2 — PolitiTweet.org

Paul Krugman @paulkrugman

Truncated at pandemic bc that would make everything else invisible 2/ — PolitiTweet.org

Paul Krugman @paulkrugman

Meanwhile, getting a lot of mail from people who just know that inflation is about to skyrocket bc of money supply. Bc that has worked so well these past few decades 1/ https://t.co/M6R754R8tD — PolitiTweet.org

Paul Krugman @paulkrugman

Not claiming to be a saint — far from it. And I was ambitious as hell when young. But when you've had a successful life and have reached a certain age, isn't it time to stop being *needy*? 3/ — PolitiTweet.org

Paul Krugman @paulkrugman

I guess objectively I knew that the same had to be true among people with real power to make the world a better or worse place. But it still comes as a shock to see the fate of the world potentially turning on such pettiness 2/ — PolitiTweet.org

Paul Krugman @paulkrugman

Subtweeting current politics: I've spent a lot of my life in academia, which contains many interesting nice people but also plenty of people who promote bad ideas and oppose good ideas because they're more concerned with vanity and their fragile egos than anything else 1/ — PolitiTweet.org

Paul Krugman @paulkrugman

And don't even start on the TCJA. We've become a country that casually hands a couple of trillion to the wealthy but balks at lifting millions of kids out of poverty and saving hundreds of thousands of lives by reducing pollution. Hard not to feel grim about the future 2/ — PolitiTweet.org

Paul Krugman @paulkrugman

Not going to do amateur Manchinology, or figure out what if anything can be salvaged. But the tragedy is that even aside from social gains BBB would have huge long-run economic payoffs and would probably more than pay for itself — much more so than BIF (which I support!) 1/ — PolitiTweet.org

Paul Krugman @paulkrugman

Truly a sad story all around. And still not over 5/ — PolitiTweet.org

Paul Krugman @paulkrugman

As I wrote elsewhere, central bank research depts kept the forbidden knowledge alive — "If we’re living in a Dark Age of macroeconomics,central banks have been its monasteries, hoarding and studying the ancient texts lost to the rest of the world." 4/ https://t.co/kJmMS3WFfs — PolitiTweet.org

Paul Krugman @paulkrugman

International macro was a bit better because Rudi Dornbusch's work kept sticky-price macro respectable. But even so you had to frame your work as being abt exchange rates or financial crises and hope people didn't notice the Keynesian core 3/ https://t.co/bJ9wxSsv7k — PolitiTweet.org

Paul Krugman @paulkrugman

Try to publish anything in which monetary policy — let alone fiscal policy — did what it clearly did in the real world, and you would be blockaded from the journals and frozen out of appointment committees. You had to keep yr views private and build your reputation elsewhere 2/ — PolitiTweet.org

Paul Krugman @paulkrugman

Absolutely. As someone who began my academic career in the late 70s, as equilibrium macro was tightening its grip, we all knew that fundamental business cycle issues were a minefield nobody with a reality sense would enter 1/ — PolitiTweet.org

Paul Krugman @paulkrugman

Ratios, people. If 12 million face vaccine mandates and 49,000 have quit or been fired for refusal to comply, that's ... 0.4 percent. Not exactly mass refusal to comply https://t.co/6To98rpRis — PolitiTweet.org

Paul Krugman @paulkrugman

Red states are lower-education and hence lower-earning; they get slightly more fed aid bc of means-tested programs, and pay much more into strongly progressive fed tax system 3/ https://t.co/J2FuUNAGsW — PolitiTweet.org

Paul Krugman @paulkrugman

It's mostly about incomes 2/ — PolitiTweet.org

Paul Krugman @paulkrugman

Relationship even clearer if you take out VA and MD where a lot of it is salaries of federal workers.1/ — PolitiTweet.org

Paul Krugman @paulkrugman

RT @nytopinion: Getting inflation down after the ’70s was hard. But this time should be different, @paulkrugman writes.  https://t.co/mchmW… — PolitiTweet.org

Paul Krugman @paulkrugman

Two caveats: the Fed might, of course, be wrong. And the end of the 46-48 inflation wasn't quite as painless as many think; I'll say a bit more in today's newsletter. But there has been huge overreaction to a few months' bad inflation prints 2/ — PolitiTweet.org

Paul Krugman @paulkrugman

100%. The Fed believes that inflation will subside without any need to put the economy through the wringer. That's what "transitory" should mean, even if the inflation period lasts a year or so 1/ https://t.co/Uw4tZAA7pQ — PolitiTweet.org

Paul Krugman @paulkrugman

Arithmetic has a well-known liberal elitist bias. Pythagoras was probably antifa https://t.co/oMc1JhwGVJ — PolitiTweet.org

Paul Krugman @paulkrugman

But there's a wild double standard in US regional discourse: it's apparently OK to rag on about the decadence of cities, but to even mention the math of federal transfers to rural areas is an un-American attack on heartland values 4/ — PolitiTweet.org

Paul Krugman @paulkrugman

All I said was that KY should acknowledge that it benefits from a transfer union in which richer states subsidize poorer — as they should! Btw, I did a scatterplot on this a couple of years back 3/ https://t.co/k7qdYzYb1L — PolitiTweet.org

Paul Krugman @paulkrugman

The odd thing was that I didn't say anything negative about the people of Kentucky (as opposed to their politicians), or assert in any way that they were responsible for their state's problems. I just pointed out the arithmetic 2/ https://t.co/PoLNXZ8vNL — PolitiTweet.org

Paul Krugman @paulkrugman

Wondering whether David will get the kind of hate mail I've been receiving over my Kentucky piece 1/ https://t.co/QeaXdw9XCu — PolitiTweet.org