Paul Krugman

Paul Krugman @paulkrugman

The great disinflation after the 1970s was associated with soaring, not falling, inequality — mostly not causal, but hardly supportive of the claim 3/ https://t.co/3uPXXJoHNp — PolitiTweet.org

Paul Krugman @paulkrugman

Inflation redistributes from creditors to debtors — not exactly a burden on the bottom half of the income distribution 2/ — PolitiTweet.org

Paul Krugman @paulkrugman

Aside from priorities, is this even true? Is there any good reason to believe that inflation hits low-income households especially hard? 1/ — PolitiTweet.org

Paul Krugman @paulkrugman

So I'm reading that Elon Musk, who founded Tesla in 2003 and first had a profitable year in 2020, is concerned that Build Back Better might, for a while, add modestly to the budget deficit while it invests in children and the environment — PolitiTweet.org

Paul Krugman @paulkrugman

RT @nytopinion: Want to know how long elevated inflation will last? “The secret answer,” @paulkrugman writes, “is that we don’t know.” htt… — PolitiTweet.org

Paul Krugman @paulkrugman

Important thread — PolitiTweet.org

Paul Krugman @paulkrugman

PS: People are down about "the economy" but upbeat about their personal situation. https://t.co/sMhRZAHCsE — PolitiTweet.org

Paul Krugman @paulkrugman

I don't think media coverage is the main reason people are down about the economy. But I'd be really interested to see a poll asking people what has happened to the unemployment rate since Biden took office. Any bets on how it would turn out? — PolitiTweet.org

Paul Krugman @paulkrugman

OK, this is new. I just got my first phishing email purporting to come from ... me. — PolitiTweet.org

Paul Krugman @paulkrugman

CPI data came as a complete surprise — because they were right in line with expectations, which never happens. True, whisper numbers were a bit higher than published forecasts, so (very) slightly better than true expectations. But amazingly little information content — PolitiTweet.org

Paul Krugman @paulkrugman

Endorse 100 percent — PolitiTweet.org

Paul Krugman @paulkrugman

Unless you're a reporter obliged to have an instant take, think and analyze before posting! 5/ — PolitiTweet.org

Paul Krugman @paulkrugman

Are wage/price decisions starting to reflect expectations of future inflation? 4/ — PolitiTweet.org

Paul Krugman @paulkrugman

The big questions won't be resolved today, although we're looking for clues. How much of what's happening is the bullwhip effect, i.e., shortages made worse by panic buying? 3/ https://t.co/k5sm1cJDnF — PolitiTweet.org

Paul Krugman @paulkrugman

Also, of course, this report won't include the effects of the recent drop in oil prices 2/ https://t.co/iNNexxI7wi — PolitiTweet.org

Paul Krugman @paulkrugman

Three rules for interpreting the CPI print coming in 10 minutes: 1. Don't make too much of one month's number 2. Don't make too much of one month's number 3. Don't make too much of one month's number By the way, the same rules apply if it comes in lower than expected 1/ — PolitiTweet.org

Paul Krugman @paulkrugman

RT @ritholtz: Wait, you mean to tell us that Fiscal stimulus actually works, and that Lord Keynes was right all along? @Claudia_Sahm @D_B… — PolitiTweet.org

Paul Krugman @paulkrugman

Maybe it's because inflation bothers people even if their incomes are keeping up. Maybe it's because peoples' perception of "the economy" is more about headlines than their own experience. Maybe it's partisanship. But *something* is weird 3/ — PolitiTweet.org

Paul Krugman @paulkrugman

while their assessment of the economy is at deep-recession levels 2/ https://t.co/5HGNPjDjZJ — PolitiTweet.org

Paul Krugman @paulkrugman

I suspect this is a dead-end debate. But seriously, something strange is happening. Consumers' assessment of their own financial position is at morning-in-America levels ... 1/ https://t.co/UCWF9lhXl0 — PolitiTweet.org

Paul Krugman @paulkrugman

@jasonfurman Yes, but now the economy is booming — and consumers say the state of the economy is bad even though their own personal situation is good. Surely this needs explaining. Maybe not the media, but what? — PolitiTweet.org

Paul Krugman @paulkrugman

A parallel? Real wages declined in last two years of Reagan administration — which didn't stop Bush I from winning big on the economy 4/ https://t.co/UL0ofFZuOU — PolitiTweet.org

Paul Krugman @paulkrugman

What I see 3/ https://t.co/zxiKjsQnwY — PolitiTweet.org

Paul Krugman @paulkrugman

1 percent one way or the other surely can't be critical 2/ — PolitiTweet.org

Paul Krugman @paulkrugman

Willing to consider this. But I can't find any combination of numbers under which real wages are down enough to justify the extreme gloom consumers are reporting 1/ https://t.co/QGKURoqSPK — PolitiTweet.org

Paul Krugman @paulkrugman

I guess it's considered uncouth to blame media coverage, although as always it's OK if you're a Republican. But it sure does look as if people keep hearing that the economy is bad, and believe it even though they themselves are doing well 6/ — PolitiTweet.org

Paul Krugman @paulkrugman

According to the Langer survey, people are downbeat about the economy but upbeat about their personal financial situation 5/ https://t.co/2XWedgbQsW https://t.co/fuVyWov3RW — PolitiTweet.org

Paul Krugman @paulkrugman

Yes, inflation is troubling. But real wages are up since prepandemic 4/ https://t.co/oud8YXzZiG — PolitiTweet.org

Paul Krugman @paulkrugman

We are, after all, experiencing a rapid improvement in employment — actually an awesomely fast recovery in prime-age employment 3/ https://t.co/esTUjqADmL — PolitiTweet.org

Paul Krugman @paulkrugman

This seems to jibe with my suggestion that what people mean when they are asked about "the economy" doesn't connect very well to personal experience 2/ https://t.co/EJrwISfEgz — PolitiTweet.org