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READ THE MIDDLE:
https://paulkrugman.substack.com/p/scenes-from-the-death-of-the-pax
Paul Krugman Substack
https://paulkrugman.substack.com
Paul Krugman YouTube Channel
https://www.youtube.com/channel/UCjY8KAGllKyZZd2FYF1vbPw
Paul Krugman YouTube Shorts
https://www.youtube.com/@PKrugman/shorts
Paul Krugman Bluesky
https://bsky.app/profile/pkrugman.bsky.social
Paul Krugman is generous with his writing:
MON-FRI: Free Essays
SAT: Interview with an intellectual VIP (Free to Read)
SUN: Primer on a topic of interest — Much of it is behind a paywall because the extra money one day a week provides inventive to write.
Paul Krugman: “Scenes from the Death of the Pax Americana” Substack (20 March 2026)
I think I’m just going to crawl back under the covers.
https://paulkrugman.substack.com/p/scenes-from-the-death-of-the-pax
Paul Krugman: “A Whiff of Stagflation. Inflation was rising and job growth stalled even before the Iran War” Substack (19 March 2026)
So Powell is right: If you restrict the term stagflation to situations that quantitatively resemble the 1970s, we aren’t there yet. But there’s definitely a whiff of stagflation in the air — a whiff that is entirely caused by Trump administration policies.
And if the situation deteriorates, as seems all too possible given the mess in the Persian Gulf, can we trust Trump’s officials to respond intelligently and effectively?
See, I made a joke.
https://paulkrugman.substack.com/p/a-whiff-of-stagflation
Paul Krugman: “Donald Trump, Petropresident” Substack (18 March 2026)
Follow the Gulf oil money.
https://paulkrugman.substack.com/p/donald-trump-petropresident
Paul Krugman: “Slavery, Tariffs and the Dire Strait. Or, why America is on its own” (Substack 17 March 2026)
The current U.S. government has, as Trump would say, treated our erstwhile allies very, very badly in multiple ways, with the arbitrary, illegal imposition of tariffs the most consequential. And now those erstwhile allies have no inclination to help Trump out of the Iran trap he created for himself. Funny how that works.
https://paulkrugman.substack.com/p/slavery-tariffs-and-the-dire-strait
Paul Krugman: “No, America is Not Respected” (Substack 16 March 2026)
Thanks to Trump, we’re held in contempt even by our closest allies.
https://paulkrugman.substack.com/p/no-america-is-not-respected
Paul Krugman: “Costs and Benefits from the New Energy Crisis. There are many losers, but also some winners.” (Substack 15 March 2026)
Some of the winners are obvious: Russia and oil producers everywhere except in the Persian Gulf. The losers may come as a surprise: American consumers are being hit hard even though the US produces more oil and natural gas than it consumes, while China, despite its dependence on imported hydrocarbons, is relatively insulated from this shock.
https://paulkrugman.substack.com/p/costs-and-benefits-from-the-new-energy
Paul Krugman: “Phillips O'Brien on Iran. How clueless are our leaders? Very” (Substack 14 March 2026)
Krugman: I spent a year in the US government more than 40 years ago. It was the Reagan administration. I was just at the sub-political level but I was shocked at the level of ignorance and incoherence that I saw in 1983. But people said, “Oh, this is just the Reagan administration, this won’t happen again.” And these guys make the Reagan administration look like consummate professionals.
https://paulkrugman.substack.com/p/phillips-obrien-on-iran
Paul Krugman: “Oil Prices Could Easily Go Much Higher (Substack 13 March 2026)
If the Strait stays closed, look out above.
https://paulkrugman.substack.com/p/oil-prices-could-easily-go-much-higher
