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summerschild

(725 posts)
9. A spreadsheet error - Really????
Wed Apr 17, 2013, 01:55 PM
Apr 2013

FROM Salon article:

The problem is that debt moralists used the study to justify a political belief, and they will not shed that belief now that the study has been shown to be flawed. The idea that debt is just innately bad, and indicative of a sort of national deficiency of character, will persist. It’s not based on data, it’s based on facile analogies to kitchen table checkbook balancing and “common sense” about how it is always necessary to “live within your means.” We already have plenty of evidence that austerity doesn’t boost economies, and no one cares. No one will care about this.”


I looked up Reinhart and Rogoff. Both were appointed to the IMF during Bush’s first term.

Rogoff gained attention in 2002 when he wrote an open letter to Joseph Stiglitz after Stiglitz criticized the IMF in his book, Globalization and Its Discontents. After reading Rogoff’s open letter to Stiglitz, I seriously doubt the “arithmetic” in the Reinhart/Rogoff report was a simple mistake. Take a minute to read the letter, remembering it was written in 2002. They were just insuring the report said what they wanted it to say - - - and it's been inflicted on the world.

Rogoff’s letter: http://www.imf.org/external/np/vc/2002/070202.htm
k&r for exposure. n/t Laelth Apr 2013 #1
2 important points there: the errors and that the data had not been released, yet global policy suffragette Apr 2013 #2
Watch this become like the autism-vaccines study Trekologer Apr 2013 #3
IMAGINE THAT! elleng Apr 2013 #4
Ridiculous ErikJ Apr 2013 #5
Kicked and recommended. Uncle Joe Apr 2013 #6
You don't say! sakabatou Apr 2013 #7
K&R drm604 Apr 2013 #8
A spreadsheet error - Really???? summerschild Apr 2013 #9
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