Profile picture
Paul Krugman
@paulkrugman
, 3 tweets, 1 min read Read on Twitter
As far as I can make out, Powell didn't say anything different from current Fed policy. Of course the Fed will respond to events. But his timing made investors think that he was signaling dovishness plus, perhaps, willingness to bail out a Trump trade war 1/
This could have perverse effects. Trump doesn't listen to experts, but he does pay attention to stocks. So today's surge could (a) convince him that going ahead with a disastrous Mexico policy is fine (b) bullying the Fed works 2/
Unclear how much any of this matters. But today would really have been a good day for Powell to develop laryngitis. 3/
Missing some Tweet in this thread?
You can try to force a refresh.

Like this thread? Get email updates or save it to PDF!

Subscribe to Paul Krugman
Profile picture

Get real-time email alerts when new unrolls are available from this author!

This content may be removed anytime!

Twitter may remove this content at anytime, convert it as a PDF, save and print for later use!

Try unrolling a thread yourself!

how to unroll video

1) Follow Thread Reader App on Twitter so you can easily mention us!

2) Go to a Twitter thread (series of Tweets by the same owner) and mention us with a keyword "unroll" @threadreaderapp unroll

You can practice here first or read more on our help page!

More from @paulkrugman see all

Profile picture
Paul Krugman
@paulkrugman
I fairly regularly check in on the home page of the National Bureau of Economic Research to see if there are developments I should be aware of. The current page features work on the declining life expectancies of lower-education whites 1/ papers.nber.org/conf_papers/f1…
The decline between those, especially men, born in the 40s and those born in the 60s is remarkable and disturbing 2/
Which makes it interesting that literally for decades Very Serious People have been saying that we need to raise the retirement age, when life expectancy of this group has been falling, not rising. And they're the people who rely on SS most 3/ ssa.gov/policy/docs/ss…
Read 4 tweets
Profile picture
Paul Krugman
@paulkrugman
Meanwhile, what's happening with the trade war? I don't think we know. But I've been doing some background work, and realizing that what we're doing now is pretty much unprecedented. Until Trump, there were almost no trade wars in US history 1/
Of course, we had a lot of protectionism. But I would only call that a trade war when tariffs are imposed as part of a deliberate attempt to hurt other countries, and force them to make concessions.And we've hardly ever done that 2/
Before FDR created the Trade Agreements Program, US trade policy was basically insular/isolationist. We were gonna do what we were gonna do, and not worry about foreign reactions. Smoot Hawley wasn't an attempt to punish anyone, it was just stupid 3/
Read 7 tweets
Profile picture
Paul Krugman
@paulkrugman
OK, it seems mean to pick on Andrew Yang, who won't even be a factor in the nomination. But he positions himself as the tech guy who knows how the world really works, and there are others like him. So maybe worth pointing out that they're all wrong 1/ washingtonpost.com/news/powerpost…
Yang's thing is that automation is destroying all the jobs, so we need universal basic income. There is a case for UBI (and a case against, in favor of more targeted aid), but either way the premise is wrong. Productivity has been slowing down, not speeding up 2/
And while Yang asserts that automation destroyed lots of manufacturing in the midwest, you don't have to be a protectionist to realize that the acceleration of job loss after 2000 was mainly about the surging trade deficit 3/
Read 4 tweets

Related threads

Profile picture
(((Michael Koplow)))
@mkoplow
I’m still on vacation and pledged not to engage with anything until Monday, but having just read the Trump economic peace plan, all I can say is that it is the Monty Python sketch of Israeli-Palestinian peace initiatives 1/
Sure, it would be great to have the West Bank and Gaza to be a trading hub like Singapore. How’s that going to work without an airport or seaport? For that matter, how will exports happen at all without Palestinian control of its borders? 2/
The West Bank and Gaza are going to be tech hubs despite only having gotten access to 3G last year? Palestinians are supposed to become passionate about corporate governance without having any independent political governance? 3/
Read 7 tweets
Profile picture
Laurence Cox #DefendRojava
@ceesa_ma
The #progressive #policy #paradox: a thread for the day that’s in it

Or: why #popular #power comes from below

In honour of our “#left and progressive unity” friends and GP voters
Full disclosure: I was once in the Green Party.

In another century, I hasten to add.

I represented the Irish party at the European Federation of GPs and edited what we laughingly called its theoretical journal.
I also spent a year in the French party and, more interestingly, on the far left of the German party. I thought the Irish party had the potential to become a party of and for #SocialMovements. I found I was wrong, and left.
Read 58 tweets
Profile picture
Mutual Funds Guide
@_Mutual_Funds_
Thread on the @KotakMF #FMP saga; Attn: @IndiaSebi
—
Highlight is on an #AMC which, in an FMP, considers it #prudent to reduce the risk, of an asset, by accepting a riskier asset as #security; knowing, the first asset shall mature with the FMP, giving no time to act if defaulted.
We reserve further comment. We shall just answer few questions raised by #investors.

1. FMP has a #fixedhorizon, at the end of which investors expect their money back. Also, they expect not to lose money. Knowing these expectations, who decided to launch the FMP?
Ans:Kotak AMC
2. A high #yield #portfolio may be made in many ways. Risk can be protected by structuring deal in many ways. Who made a portfolio of high #coupon/yield (11%) #debt instruments by lending upto 40% to #borrowers against security of their companies #equity #shares?
Ans: Kotak AMC
Read 23 tweets
Profile picture
GeePaw Hill
@GeePawHill
A thing that happens to me a lot. I want to say, "Yeah, that's not how that works," about some over-simple explanation, usually something around using inorganic reasoning about humans. ...
... But when I go there, I know we're gonna go instantly to vast areas of study & insight that most folks aren't comfortable with.

And it's exhausting, and I've limited energy.
They see the exchange -- they see all of human discourse as far as I can make out -- as a figure taking place against a fixed & stable ground. They take for granted so many things I'm unwilling or unable to take for granted.
Read 13 tweets
Profile picture
Just Live With It
@bbc_thismorning
Welcome to the #Metpolice

justlivewithit.co.uk/metpolice/blog…

#skynews #TargetedIndividual #bbcnews #coverup #c4news #worldnews #euronews #conspiracy #news #ukgov #theresamay #LBC
It's a criminal offence to falsifying a legal instrument. But if the #MetPolice / #LBRUT do it, then there is not even an investigation. 12 years of silence. Evidence to prove it - ukcoverup.com/search-warrant-

#skynews #lbc #theresamay #uk #bbcnews #coverup #c4news #worldnews #ukgov
Welcome to the #Metpolice who also changed & falsified my arrest details. Have a look at the evidence here ukcoverup.com/arrest-details as it's all easy to prove & that's why it's never addressed

#R4today #corruption #coverup #leadership #values #corevalues #bbcnews #skynews #itvnews
Read 97 tweets
Profile picture
gawanmac
@gawanmac
Since foggy-walk-thread, i've been meaning to say something about how we don't have actual wilderness to get truly lost in in this country, nor treat as a psychospiritual blank canvas. We do have marked, lined, cratered, humped, long-lived-in landscapes that you can try to read.
You can walk through these landscapes and sometimes recognise, sometimes guess, sometimes wonder, who or what made *that* and when? Was it the weather, was it people (which century, which millenium?), was it animal?
Reading a bit around the history of the British countryside can make your walks in it a much richer experience - it won't mean you know always what you're looking at, but it can make your guesswork and detective work more satisfying.
Read 36 tweets

Trending hashtags

#IndependenceDay #Recruitment #Army #Trump #people #metpolice #FEES #CrownCourt #DWP #crowdfunding #specialbranch #adeccogroup #WeAreTheNewsNow #coverup #InformationWar #investor #WeAreQ #wato #vincecable #P #ti #perspective #companies #Law140 #Fed
Follow Us on Twitter!

Did Thread Reader help you today?

Support us! We are indie developers!

This site is made by just three indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member ($3.00/month or $30.00/year) and get exclusive features!

Become Premium

Too expensive? Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal Become our Patreon

Thank you for your support!