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I have the same impression that the Excel error is just abused so he can reiterate his attack against austerity proponents. The paper in question just fails to
by dnc 13y ago
I have the same impression that the Excel error is just abused so he can reiterate his attack against austerity proponents.
The paper in question just fails to provide evidence that 90% is a tipping point of debt to GDP ratio. It does not provide evidence that there is no such a point whatsoever.
- igravious 13y ago"" some correlation between high debt and slow growth, with no indication of which is causing which, but no sign at all of that 90 percent “threshold. "" We aren't told how high high is. We don't now which direction it goes in. This debt ratio thing needs to be knocked on the head. Everybody without the correct information will assume that 100% = very very bad whereas it only means a year's GDP. I say only but you get my drift. If the consensus tomorrow was to base the debt ratio off of 3 years GDP then 90% (~10 months) would go down to 30% wouldn't it? 30% doesn't sound that bad! Hey we've only got a 30% debt ratio, let's party!
- woodpanel 13y agoHe is basically doing the same thing He accuses r&r for: using a chosen snippet of reality, adding his conclusions as facts to support his broader world view.