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Reminder: Paperback is on sale. Brainnssss!pic.twitter.com/zb4Nr6pMhc
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Many Rs saying that the only reason Biden is mandating vaccines is to distract people from Afghanistan or something. I dunno; maybe it has something to do with this?pic.twitter.com/FrfTWb4L4S
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Paul Krugman Retweeted
Companies aren’t acting as if they expect lots of future inflation,
@paulkrugman notes. They’re acting, instead, as if they see current inflation as a blip.https://nyti.ms/3k0aCzfThanks. Twitter will use this to make your timeline better. UndoUndo -
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The governor of South Carolina has declared war on vaccine mandates, continuing his state's tradition of standing up for liberty 1/pic.twitter.com/WxGMHnL8YR
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Again, he's doing the right thing regardless of the politics. But he may also have chosen favorable ground for a big political fight 5/
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But Biden is fighting back. He's using executive authority to save lives, and basically daring Rs to put themselves on the side of the minority trying to ruin life for the rest of us 4/
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Rs are now sabotaging Biden by undermining the fight against Covid; how self-conscious they are about this is something we can argue, but that's how it's working out. And having blocked basic public health measures, they're all set to blame Biden for Covid's persistence 3/
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It's now clear that Republicans effectively sabotaged Obama's economy, slowing the recovery, by imposing fiscal austerity (using completely false claims that they were worried about debt.) And Obama was basically passive, even accepting their premises 2/
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Biden's vaccine mandate is terrific public policy; it is, more or less literally, what the doctor ordered. Is it good politics? We don't know. But one thing worth noting is the contrast with Obama 1/
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Paul Krugman Retweeted
"America was viciously attacked 20 years ago,"
@paulkrugman writes. "But even then, the call that mattered was coming from inside the house."https://nyti.ms/3yYz6NqThanks. Twitter will use this to make your timeline better. UndoUndo -
Paul Krugman Retweeted
Check out GC Public Programs' fall 2019 line-up. The whole series looks excellent - including three co-hosted by
@stone_lis: one on Occupy, one on "Survival of the City", and one on economics and sci-fi. Register online!@paulkrugman@GC_CUNY@GCPresentshttps://twitter.com/GC_CUNY/status/1436013829461315596 …
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I don't know how it will play politically; I don't even know how the news media will cover it, whether they'll de facto take the side of the irresponsible minority. But Biden needed to be bold, and he has surpassed expectations 2/
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Today, Joe Biden became president. OK, he already was. But this is huge — a dramatic assertion of his right and duty to protect the American people from harm 1/https://www.nytimes.com/2021/09/09/business/osha-vaccine-biden-mandate.html …
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I still think it would take protracted overheating to bring stagflation back. And that still doesn't look likely 8/
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Just in general, I don't get the sense that price- and wage-setters are acting as if they expect sustained inflation ahead. Which means that we are not reliving the 70s. 7/
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Presumably firms reluctant to offer across-the-board wage increase because they don't expect economy-wide wages to keep increasing, and don't want to lock in higher costs 6/
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Struck by this line from the Beige Book: "Some contacts said that pay equity across workers made it difficult to raise wages for new hires." 5/ https://www.federalreserve.gov/monetarypolicy/beigebook202109.htm …
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We're hearing a lot of stories about firms offering signing bonuses and other inducements for new hires — but raising overall wages, not so much 4/https://www.forbes.com/sites/jackkelly/2021/09/08/companies-are-paying-100000-sign-on-bonuses-to-attract-workers/?sh=22e360c13b9f …
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But how can we tell? Not sure that surveys are the best or at least only approach. Suggestion: look at price- and wage-setting behavior 3/
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Historically, we've had episodes of high inflation that didn't get built in, and faded quickly; the 70s was exceptional 2/pic.twitter.com/LEd6MiFWRz
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