Nobel laureate. Op-Ed columnist, @nytopinion. Author, “The Return of Depression Economics,” “The Great Unraveling,” “The Age of Diminished Expectations” + more.

Putin on the Fritz

krugman.blogs.nytimes.com — It's impressive just how quickly and convincingly the wheels have been coming off the Russian economy. Obviously the plunge in oil prices is the big driver, but the ruble has actually fallen more than Brent - oil is down 40 percent since the start of the year, but the ruble is down by half.

Paul Krugman | The revenge of Wall Street

livemint.com — On Wall Street, 2010 was the year of "Obama rage", in which financial tycoons went ballistic over the president's suggestion that some bankers helped cause the financial crisis. They were also, of course, angry about the Dodd-Frank financial reform, which placed some limits on their wheeling and dealing.

Dodd-Frank Damaged in the Budget Bill

nytimes.com — On Wall Street, 2010 was the year of " Obama rage," in which financial tycoons went ballistic over the president's suggestion that some bankers helped cause the financial crisis. They were also, of course, angry about the Dodd-Frank financial reform, which placed some limits on their wheeling and dealing.

Petrothoughts - NYTimes.com

krugman.blogs.nytimes.com — Just leaving a conference in Dubai, and thinking about oil prices. (A lot of the conference was actually about geopolitics, and I don't want to think about the quite grim stuff from that end.) So, some not especially organized notes. One involves the failure of OPEC to restrict production to support prices.

Is Our Economic Commentators Learning?

krugman.blogs.nytimes.com — We are now in our seventh year at the zero lower bound. Over that period we've seen massive deficits rise and fall, aggressive monetary expansion and ill-advised monetary tightening, extreme fiscal austerity, and more. At this point we should therefore have a pretty good idea of how things work in this environment.

Mad as Hellas - NYTimes.com

nytimes.com — The Greek fiscal crisis erupted five years ago, and its side effects continue to inflict immense damage on Europe and the world. But I'm not talking about the side effects you may have in mind - spillovers from Greece's Great Depression-level slump, or financial contagion to other debtors.

Paul Krugman: Mad as hellas

Friday Night Music: Peter Gabriel, 1993

Government paralysis led to weak economic recovery

mysanantonio.com — Things are finally looking better for American workers, but this improvement comes after years of suffering, with long-term unemployment in particular lingering at levels not seen since the 1930s. Many young Americans graduated into a labor market that didn't want their skills, and will never get back onto the career tracks they should have had.

Jean-Claude Yellen

krugman.blogs.nytimes.com — The Fed definitely seems to be gearing up for monetary tightening, even though inflation remains below target. And I'm with Ryan Avent: this will, if it happens, be a big mistake - just as Jean-Claude Trichet's decision to raise rates in Europe in 2011 was a big mistake, just as the Swedish Riksbank's early rate hike was a mistake, just as Japan's rate hike in 2000 was a mistake.
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