• RT @davies_will: But the FT is rewriting history about any ‘consensus’. Look what they published in 2012, by two eminent liberal economists…
    Paul Krugman Sat 16 Jan 2021 19:49
  • In any case, when Rs start thumping the table about how deficit spending is bad, look at what they did, not what they say 5/
    Paul Krugman Sat 16 Jan 2021 12:43
  • In fact, given the scale of the shift from austerity to stimulus, it's surprising that the Trump economy wasn't stronger. It may have been held back by trade-war uncertainty, and/or poorly targeted stimulus 4/
    Paul Krugman Sat 16 Jan 2021 12:43
  • As Republicans go around claiming that the Biden agenda is job-destroying and whine about deficits, worth remembering that Trump policy was, in effect ... Keynesian. Here's a key picture, explained below 1/ https://t.co/2EJKzUJL3F
    Paul Krugman Sat 16 Jan 2021 12:38
  • They should own up to that colossal error of judgment, or it will happen again 4/
    Paul Krugman Sat 16 Jan 2021 12:18
  • So claiming that the push for austerity was based on advice from economists, who have since changed their minds, is an evasion of responsibility. VSPs, including the FT, chose to ignore the mainstream and go with the economic equivalents of Scott Atlas 3/
    Paul Krugman Sat 16 Jan 2021 12:18
  • RT @samstein: I’m deadly serious about this, if Jenna Ryan was your realtor i want to hear from you. PLEASE. DMs open https://t.co/PjUk0Q…
    Paul Krugman Fri 15 Jan 2021 19:38
  • The idea that debt is a serious threat may seem hard-headed and, yes, Very Serious, but it's just a prejudice at odds with the facts fin/
    Paul Krugman Fri 15 Jan 2021 17:32
  • r is the rate of interest on government debt; g the economy's growth rate. You can do either both nominal or real. Let's do nominal, and use CBO's estimate of potential GDP to smooth out business cycles 5/ https://t.co/bgLGnL6xFq
    Paul Krugman Fri 15 Jan 2021 17:27
  • This happens to individuals and businesses! And it could in principle happen to the U.S. government. But the arithmetic is all wrong — so wrong that even if borrowing costs rise in the future it's just not likely to be an issue 2/
    Paul Krugman Fri 15 Jan 2021 17:12
  • Gonna do a brief (?) wonkish thread on debt sustainability, and why we shouldn't worry about it. Start with the reason many people think it's terrible: they imagine that debt snowballs, because the more debt you have the higher your interest payments, so you run up even more 1/
    Paul Krugman Fri 15 Jan 2021 17:12
  • RT @nytopinion: .@paulkrugman responded to readers who commented on his column, "Four Rules That Should Guide Bidenomics." Read their excha…
    Paul Krugman Fri 15 Jan 2021 16:17
  • It's really good to see Biden going big. This is a situation in which caution would be the riskiest thing he could do 2/
    Paul Krugman Fri 15 Jan 2021 11:47
  • It's OK if Biden spends a couple of days urging Rs to support his agenda. But when they don't, go big and fast; get money out the door. 4/
    Paul Krugman Wed 13 Jan 2021 17:16
  • Voters don't care, or by and large even know about, process. They won't be outraged if Biden uses aggressive tactics to enact stimulus. They will, however, punish his party if they don't see concrete economic gains 3/
    Paul Krugman Wed 13 Jan 2021 17:16
  • I think this insight (along with a number of other observations) held up well after 2008. And it was, to me, an object lesson in the virtues of laying out your assumptions systematically, not going by what you vaguely imagine must be true 5/
    Paul Krugman Wed 13 Jan 2021 12:00
  • So I set out to write a model that would confirm my intuition — and it said that my intuition was wrong! The liquidity trap is a sort of expectational trap, and harder than you might think to deal with 4/
    Paul Krugman Wed 13 Jan 2021 12:00
  • RT @bartbonikowski: This @monkeycageblog series I edited w @dziblatt in 2019 is all the more relevant today. We argue in the intro that rad…
    Paul Krugman Tue 12 Jan 2021 21:15
  • RT @TBPInvictus: I only wish I knew who to credit for this amazing limerick: https://t.co/uFVMrRYjuT
    Paul Krugman Tue 12 Jan 2021 21:00
  • And once the fantasy of overturning the vote dies, quite possible that many of them just walk away. Let's hope — while planning for the worst 3/
    Paul Krugman Tue 12 Jan 2021 16:39
  • What happens when he is? They might rage over the steal — but do they really, truly believe that the election was stolen (or do they even care) as opposed to wanting some way, any way to keep their guy in power? 2/
    Paul Krugman Tue 12 Jan 2021 16:34
  • So what will happen after Jan. 20? There might be a paroxysm of violence. But maybe not. Everything we've seen suggests that the Trumpists are high on their own supply — they still believe that the election results can be reversed, and that Biden won't be sworn in 1/
    Paul Krugman Tue 12 Jan 2021 16:34
  • Also, political turmoil, even violent, doesn't have much economic impact unless it turns into actual civil war. Race riots and Vietnam coincided with a middle-class boom 3/ https://t.co/GFiBNSXIjS
    Paul Krugman Tue 12 Jan 2021 13:14
  • Is this crazy? Not really. For one thing, last week also included the D upset in GA, which greatly increased the odds for adequate economic relief. Predictit on Senate control 2/ https://t.co/gN3ycH54ce
    Paul Krugman Tue 12 Jan 2021 13:09
  • The economic consequences of the putsch: very far from the most important thing, but the markets seem remarkably sanguine given what just went down. Bonds, in particular, are signaling new optimism about recovery 1/ https://t.co/XbAaxaZhOa
    Paul Krugman Tue 12 Jan 2021 13:09
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