Wednesday, August 14, 2019

One of Paul Krugman's Most Idiotic Tweets

Paul Krugman tweeted this morning:
Well, you really need to look at both. Stock and bond activity mean different things at different times. It is not as easy as "professionals study bond markets." What a joke.

Krugman needs to spend some of his Nobel Prize money and read The Stock Market, Credit, and Capital Formation by Fritz Machlup. Machlup goes into detail on what different stock and bond positioning means. Nothing was done like it before he detailed it all and no one has since.

Finally, Krugman and pretty much everyone else is missing two major things about the current inversion of the yield curve that no one else is covering anywhere, except me in the EPJ Dail Alert.


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