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Paul Krugman
@paulkrugman
, 4 tweets, 2 min read Read on Twitter
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…
And yes, if you're wondering, Joe Biden has long been one of those Serious People, with a long history of advocating SS cuts. To be fair, he's also been a determined opponent of privatization. But he really is to the right of a lot of his party 4/ fool.com/retirement/201…
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Paul Krugman
@paulkrugman
This is interesting about worker shortages in France, but also problematic, and not just for the usual reason: if workers are scarce, why aren't wages going up? 1/ nytimes.com/2019/07/27/bus…
The article also refers to France's high unemployment rate. But we've been learning in the US that the unemployment rate is a poor guide to labor market tightness, with many preferring to focus on prime-age employment 2/
And by that measure, France is closer to full employment than we are! 3/
Read 4 tweets
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Paul Krugman
@paulkrugman
Shocking they were even thinking about this. The strong dollar actually is a problem, but this would be predatory beggar-thy-neighbor policy 1/ cnbc.com/2019/07/26/tru…
The reason the dollar is strong is the weakness of the European and Japanese economies, which has caused them to have negative interest rates. Intervention (if it worked, which is doubtful) would be nothing but a way to help us at their expense 2/
We would be doing exactly what we accused China of doing circa 2010. Total abdication of any role for the US as a responsible actor 3/
Read 3 tweets
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Paul Krugman
@paulkrugman
With the latest data — which includes significant revisions to past numbers — we have a better picture of the Trump economic record so far. It's underwhelming 1/
No sign up 4 percent growth, or even 3 percent growth except for a brief period, on the horizon 2/
And absolutely no sign of the business investment boom we were supposed to get from that tax cut 3/
Read 6 tweets

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