Paul Krugman
@pkrugman
Ex NY Times, now author of Substack Paul Krugman. Nobel laureate and, according to Donald Trump, "Deranged BUM". Also Research Professor at the City University of New York Graduate Center and senior scholar at the GC-CUNY Stone Center.
Friends with children made a point of getting out of DC before the fireworks. They were right:
OT: A few months ago the Threepenny Review asked me (along with others) to write a short essay on living in New York. It’s up now: threepennyreview.com/kr… But one passage I was pleased with reads a bit differently than when I wrote it:
Trump’s declaration that he expects UNCONDITIONAL SURRENDER from Iran does not seem to be calming markets
Many people talking about how gasoline prices at the pump have already jumped. But what should really terrify Republicans is RBOB — the futures price on wholesale gasoline. This is up 75 cents a gallon since its low earlier this year.
Sometimes you wonder. Bloomberg this morning saying that you can't both believe that AI is a big deal and that we're in a bubble. But you absolutely can! That's exactly the story of the tech bubble of the 90s, major economic impact but not big profits. Sigh.
When Bereleh and Faygel Krugman emigrated from Belarus to New York, which was mostly Catholic and Jewish in 1920, I don't think they did for the Scots (with one t) Irish culture
There’s a company called We Are Music that reportedly specializes in making bogus claims of copyright infringement. Yesterday they came after me claiming copyright on … my conversation with Claudia Sahm. A joke for me, but probably ugly for many.
So Pete Hegseth wants to rid the military of "beardos," because men with beards can't be good soldiers
One thing I see in comments is a lot of people still saying solar and wind are no good when the sun isn't shining and the wind isn't blowing. People, there are these things called batteries, which have also experienced huge progress 2/
Apparently some people over here don't know that I'm posting almost daily on Substack. It's free 6 days a week, with only the Sunday primers (which are very labor-intensive) paywalled. According to the U.S. politics bestseller list, this venture is going pretty well
I mean, what has happened in the past 20 years that would make you believe that there is a one-to-one relationship between money and prices? 3/
Important to realize that crime will be the next front in the war on data 2/
Folks, CBO estimate of the distributional effect of the One Big Beautiful Bill Act is out: www.cbo.gov/system/files... It's grotesque
The Soldiers' and Sailors' monument, New York. The pillar at the right reads FARRAGUT at the top, the pillar on the left SHERMAN. Both are engraved with names of the many, many battles it took to end slavery
Also, fwiw, people do seem to want substantive, slightly wonky analysis
In other news, Jack, who was a bit standoffish after my long trip, has decided to reconcile
Michigan numbers are brutal. But one amazing thing: Republicans still think Trump will magically end inflation. From Goldman Sachs:
Consumers already seem worried about policy madness, and they ain't seen nothing yet
Arithmetic is a form of radical left-wing Marxism that hates America www.reuters.com/markets/us-l...
On those new Trump tariffs: I don't think people realize how narrow they are. They're ugly and stupid, but also arguably an attempt to save face after he lost his nerve on broad tariffs
Huh. I've been feeling for a while as if tech stocks were partying like it was 1999; soon we may be hung over like it's 2000
You may say that Musk's Nazi salute exploded claims that he isn't fully fascist. But I say that his awkward hand gesture led to rapid unscheduled disassembly of those claims.
A couple of factors here; shale, of course. But also rapid growth in renewables, which Trump hates because Scotland once put up a windmill near his golf course 3/
What about prices? The cost of a gallon of gasoline relative to wages is near a 20-year low 2/
Bloomberg says that Trump will immediately declare a national energy emergency. We all know why — it will be about gutting environmental protection. But still worth noting that US energy is actually doing fine, with production > consumption and exports > imports 1/