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Old 04-18-2013, 02:50 AM   #1
Blart
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Join Date: Oct 2005
Location: Chicago
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Default Austerity economics based on an Excel error.

"DEBT IS THE PROBLEM!!!"

No, your coding is the problem.


"You know the much-ballyhooed theory that high national debt always correlates to crappy economic growth? The one that's trotted out on a regular basis by politicians arguing for austerity budgets and sequestration? Well, according to new findings, the study that austerity proponents cite more than any other is based on an Excel error. A big one.

The glitchy data comes from a hallmark study on debt, Growth in a Time of Debt, from 2010. Since it was published, it's become a favorite of people like Paul Ryan, who mentioned it frequently during the Romney campaign. "


http://gizmodo.com/5994887/thank-a-s...rity-economics
http://www.washingtonpost.com/blogs/...adsheet-error/
http://news.slashdot.org/story/13/04...tm_medium=feed


All those starving people. All the sick and dying who didn't get treatment. All the newly homeless, uneducated children, ghettos, etc. All the rich people getting richer. Thanks Excel!



Krugman having a field day on his blog, of course.
http://krugman.blogs.nytimes.com/201...e-pundits-too/

Last edited by Blart; 04-18-2013 at 03:00 AM..
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