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Paul Krugman
@paulkrugman
, 3 tweets, 1 min read Read on Twitter
At the Griswold Center meeting on trade policy, listening to panel discussion; and I'm learning stuff I didn't know 1/ gceps.princeton.edu/events/
Everyone is focused on trade war -- but meanwhile the US is in the process of killing the WTO dispute settlement mechanism by blocking the appointment of new judges. A big deal -- better dispute resolution is the main positive thing the WTO has achieved 2/ reuters.com/article/us-usa…
This is part of a broader pattern: Trumpism involves a lot of passive-aggressive disruption of the world order, with potentially very harmful results 3/
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Paul Krugman
@paulkrugman
Important paper by Summers and Rachel 1/ brookings.edu/bpea-articles/…
It's a commonplace these days that major economies seem stuck at or near the effective lower bound for interest rates, leaving little room to fight recessions -- which is what "secular stagnation" really means 2/
What Summers and Rachel argue is that this is happening despite fiscal policies that are de facto stimulative -- not so much deficit spending as programs that redistribute from the young to the old, who are more likely to spend. 3/
Read 7 tweets
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Paul Krugman
@paulkrugman
A few thoughts inspired by @delong's "I am no longer a neoliberal" piece. Brad is really saying two things: there is no center-right, so centrists must deal with the left, and market-oriented policies don't work as well as thought 1/ vox.com/policy-and-pol…
I've been there on both fronts for a while (although I have been fairly left of center for many years). But I think it's useful to ask what it means for policy proposals in different areas 2/
The big issue right now is environmental policy/Green New Deal. Here both aspects of the neoliberal rethink matter. Carbon pricing probably works less well than Econ 101 suggests - it works, for sure, but needs public investment in infrastructure and research too 3/
Read 12 tweets
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Paul Krugman
@paulkrugman
For what it's worth, all of the "nowcasting" estimates I'm seeing -- efforts to predict what the final number of growth will be -- are showing the economy hitting an air pocket in the 1st quarter:

NY Fed: 0.8
Atlanta Fed: 0.3
St. Louis Fed 0.3 1/
Probably this represents transitory factors incl the shutdown, not the beginning of a recession. But it reinforces the point that good growth in the 2nd and 3rd quarter last year was a blip, not the beginning of a magnificent supply-side era of growth. 2/
Rarely in the course of economic events has such a hyped – and hugely expensive – policy belly-flopped this badly. But GOP faith in the magic of tax cuts will, of course, not be affected at all 3/
Read 3 tweets

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Filomena Rocha
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7. Attempted coup in Venezuela with support from the US - 2019

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Millennial Macro
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#GrowthSlowing
#GrowthSlowing #inflation
In the 12 months through January, the CPI rose 1.6 percent, the smallest gain since June 2017. The CPI increased 1.9 percent on a year-on-year basis in December.
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Housatonic™ 🇺🇸
@HousatonicITS
[1] "After serving as a partner at the Boston law firm of Hill and Barlow, #RobertMueller [] in 1989, he served in the US Department of Justice as an assistant to Attorney General Dick #Thornburgh and as acting Deputy Attorney General." See #Wikipedia
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"Criminal Investigation Is Begun at Arms Plant" -
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Millennial Macro
@MillennialMacro
#demographics #militaries #economies #currencies
#USA
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Julie Laumann 🌎
@Otpor17
"Trump has used Harley-Davidson as an example of a US business that is being harmed by trade barriers. Yet Harley has warned consistently against tariffs, saying they would negatively impact sales"

Harley, hit by tariffs, shifts some production overseas apnews.com/6c8942f7363743…
Important issue highlighted by @riotwomennn: are tariff exemptions determined by bribes?

Corker: "22,000 companies have asked for exemptions.There is no basis to deal with them. Are they going to grant these exclusions based on political contributions?"
Trump’s trade war with the European Union is going to cost Harley-Davidson as much as $100 million a year and force the manufacturer to shift production out of the U.S. bloomberg.com/news/articles/…
Read 232 tweets
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JD
@JDiviv
Benghazi, Muslim Brotherhood & Admiral James Ace Lyons
Why is Benghazi important? Because this is where the 🐍Obama/Clinton team became dominant enough to essentially have the U.S. switch sides in the war on terror - Admiral Ace Lyons /1
4-Star Admiral James “Ace” Lyons, US Navy Ret, a distinguished 37yr career in the US Navy, former Commander-in-Chief, US Pacific Fleet, the largest single military command in the world, Military Rep to the UN and Dep Chief of Naval Operations and father of the Navy Red Cell... /2
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We can learn much from this distinguished patriot /3
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