Multiple points... Some mine, some David Harsanyis. Davids: For those, like Krugman, giving government credit for any recent economic good news... Reality isnt on your side, and of course, just moments ago yall were complaining about how little congress is getting done on the basis of its historically low rate of law-passing, and you were bleating about draconian austerity (which of course, didnt happen, but whatever...). Mine: Lets not all rush into cheers of economic growth on the basis of a quarterly GDP rate change which was largely goosed by revisions to previous BEA reports and by a sharp increase in private spending on healthcare thanks to the ACA. And, for that matter, havent we learned by now that the current peak of the stock market isnt a great indicator of broad prosperity either? What Im much more interested in would be rising employment in real terms (ie. not just because so many people dropped out of the labor market that the rate went up), an increase in individual savings rates and private investment, and non-healthcare consumption spending. But either way, its always fun to point out when Krugman is wrong.
Posted on: Tue, 30 Dec 2014 19:42:13 +0000
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