• But even so, the spectacle of a president trying to cover up his pandemic disaster by quitting the WHO and responding to racial violence he fanned by trying to change the subject to China is ... awesome. Can the world survive 8 more months of this guy? 2/
    Paul Krugman Fri 29 May 2020 19:34
  • We've been heading for the Trump moment for a long time. I don't know if anyone remembers the 80s comic strip Washingtoon, but one of its characters was the Special Assistant to the President for Blame-shifting 1/
    Paul Krugman Fri 29 May 2020 19:29
  • RT @ThePlumLineGS: Now that Trump is terminating our relationship with WHO and blaming them for his own failures, here's a comparison of w…
    Paul Krugman Fri 29 May 2020 19:29
  • RT @joshtpm: Shorter Trump: I was trying to calm the waters with my call for mass executions.
    Paul Krugman Fri 29 May 2020 18:59
  • Call it the glums of August, although some of it may happen sooner. Completely unnecessary; won't happen if the Senate passes something like the recent House bill. But right now we're set for a gratuitous late-summer crisis 7/
    Paul Krugman Fri 29 May 2020 18:39
  • So here's what worries me: just 2 months from now, sharp cut in aid to unemployed, alongside mass layoffs of teachers and firefighters, plus small businesses folding and/or laying off their employees 6/
    Paul Krugman Fri 29 May 2020 18:34
  • Meanwhile, proprietors' income — which is where small business falls — took a huge hit, declining 19.5% Fed-April. The paycheck protection program, despite terrible implementation, surely helped. But PPP's grace period for turning loans into grants only 8 weeks 5/
    Paul Krugman Fri 29 May 2020 18:34
  • Also, in April state and local budget woes just beginning to bite: government wages and salaries down only 3%. But that will get much worse soon unless there's large-scale federal aid 4/
    Paul Krugman Fri 29 May 2020 18:29
  • And those benefits have expanded substantially, as states work off the backlog of cases: $49 billion in April, $86 billion in May through the 27th. So UI has been a major cushion. However, expanded benefits expire July 31 3/
    Paul Krugman Fri 29 May 2020 18:29
  • The biggest decline in absolute terms came in wage and salary income, which fell 11% between Feb. and April. However, about 40% of that decline was made up by increased unemployment benefits 2/
    Paul Krugman Fri 29 May 2020 18:24
  • I finally had time to pore over today's personal income report a bit more, and here's my take: it shows a high risk of a crisis in the late summer if Congress doesn't step up with more aid 1/
    Paul Krugman Fri 29 May 2020 18:24
  • RT @nytopinion: . @PaulKrugman responded to readers commenting on his column "On the Economics of Not Dying." Join the discussion here: htt…
    Paul Krugman Fri 29 May 2020 15:13
  • Does anyone believe white Republicans were really upset by Biden's remark, as opposed to claiming to be upset? Link
    Paul Krugman Fri 29 May 2020 12:48

    You can add location information to your Tweets, such as your city or precise location, from the web and via third-party applications. You always have the option to delete your Tweet location history. Learn more

  • Personal income report out. Confirms that about half of wage decline in April offset by higher unemployment benefits; almost surely more than that this month. But expanded UI ends July 31 https://t.co/38AQSSWSTK
    Paul Krugman Fri 29 May 2020 12:48
  • RT @existentialfish: CNN: CNN reporter, crew released after being arrested in Minneapolis MSNBC: U.S. sees increase in hospitalizations as…
    Paul Krugman Fri 29 May 2020 12:18
  • Indeed. Late March was a "whatever it takes" moment, in which the Fed's express willingness to intervene made actual intervention mostly unnecessary Link
    Paul Krugman Fri 29 May 2020 12:18

    You can add location information to your Tweets, such as your city or precise location, from the web and via third-party applications. You always have the option to delete your Tweet location history. Learn more

  • RT @ASlavitt: COVID Update May 28: If Trump has done one simple thing he would have changed the course of history. 1/
    Paul Krugman Fri 29 May 2020 00:28
  • RT @nytopinion: "If they really cared about the economy, even ardent reopeners would want people to keep wearing face masks," writes @PaulK…
    Paul Krugman Fri 29 May 2020 00:28
  • Oh, and they fixed the picture! We may update as I get shaggier
    Paul Krugman Thu 28 May 2020 20:03
  • Latest briefing, "The future of cities: Are we losing face to face" now up Link
    Paul Krugman Thu 28 May 2020 19:48

    As one of the world’s best known and most acclaimed economists, Paul speaks on the leading issues of the day affecting the world economy. An insightful, outspoken Op-Ed columnist for the New York Times, he is a passionate and articulate speaker, with a gift for relating global economic events to his audiences, and committed to speaking the truth as he sees it in the most compelling terms. His twice-weekly Op-Ed pieces for the New York Times model the depth of insight and the unflinchingly outspoken style he brings to his speeches. In addition to the Nobel Prize, Krugman’s work in economics has earned him broad acclaim from the economic press and several prestigious awards, including the John Bates Clark medal from the American Economic Association for his work in international trade and finance. He is recognized worldwide as a leader in the fields of economic geography and the role of increasing returns in shaping international trade.Paul Krugman is a Professor of Economics and...

  • Speaking of refusing to do policy analysis: the Trump administration won't even release its economic projections. Yes, the future is uncertain, but it always is Link
    Paul Krugman Thu 28 May 2020 12:42

    White House officials have decided not to release updated economic projections this summer, opting against publishing forecasts that would almost certainly codify an administration assessment that the coronavirus pandemic has led to a severe economic downturn, according to three people with knowledge of the decision.

  • Of course, we aren't having a rational debate here: if the economy were really the issue, Trump would be doing everything he could to get people wearing masks. But still worth noting that deaths versus the economy is a false choice. For most of us, not dying is worth a lot 7/
    Paul Krugman Thu 28 May 2020 12:12
  • The pressing question, of course, is the cost/benefit of the rush to reopen. I don't have the numbers to do that calculation, but my strong guess is that it looks like a really bad idea. And uncertainty should be grounds for more caution, not less 6/
    Paul Krugman Thu 28 May 2020 12:12
  • Now, total deaths that would been avoided is more than the 36,000 avoided by early May; even 40K is lowballing it. But even that means $200 billion if we use a fairly standard estimate, taking the differential effect on older people into account, of $5 million per life 5/
    Paul Krugman Thu 28 May 2020 12:07
  • Meanwhile, we have a pretty good estimate of the effect of lockdown on GDP: around -10% (NOT 40% — that's an annualized growth rate). That's approximately $40 billion per week 4/ Link
    Paul Krugman Thu 28 May 2020 12:07

    The growth rate of real gross domestic product (GDP) is a key indicator of economic activity, but the official estimate is released with a delay. Our GDPNow forecasting model provides a "nowcast" of the official estimate prior to its release by estimating GDP growth using a methodology similar to the one used by the U.S. Bureau of Economic Analysis.

    GDPNow is not an official forecast of the Atlanta Fed. Rather, it is best viewed as a running estimate of real GDP growth based on available data for the current measured quarter. There are no subjective adjustments made to GDPNow—the estimate is based solely on the mathematical results of the model. In particular, it does not capture the impact of COVID-19 beyond its impact on GDP source data and relevant economic reports that have already been released. It does not anticipate the impact of COVID-19 on forthcoming economic reports beyond the standard internal dynamics of the...

S&P500
VIX
Eurostoxx50
FTSE100
Nikkei 225
TNX (UST10y)
EURUSD
GBPUSD
USDJPY
BTCUSD
Gold spot
Brent
Copper
Last update . Delayed by 15 mins. Prices from Yahoo!