Reinhart And Rogoff's Pro-Austerity Research Now Even More Thoroughly Debunked By Studies

[ashling]

The debunking of Carmen Reinhart and Kenneth Rogoff continues.
http://www.huffingtonpost.com/2013/05/30/reinhart-rogoff-debunked_n_3361299.html

This contradicts the conclusion of Reinhart and Rogoff's 2010 paper, "Growth in a Time of Debt," which has been used to justify austerity programs around the world. In that paper, and in many other papers, op-ed pieces and congressional testimony over the years, Reinhart And Rogoff have warned that high debt slows down growth, making it a huge problem to be dealt with immediately. The human costs of this error have been enormous.

Even after University of Massachusetts graduate student Thomas Herndon found Reinhart and Rogoff's work included errors and that their 2010 paper was missing important data, the researchers stood by their ultimate conclusion: that growth dropped off significantly after debt hit 90 percent of GDP. They claimed that austerity opponents like Paul Krugman have been so so rude to them for no good reason.

At the same time, they have tried to distance themselves a bit from the chicken-and-egg problem of whether debt causes slow growth, or vice-versa. "The frontier question for research is the issue of causality," they said in their lengthy New York Times piece responding to Herndon.

It looks like they should have thought a little harder about that frontier question three years ago.

[ruffburr]

1. It Seems to Me-

That carmen and ken were/are paid shills for corporate interests,visa-vie A close to slave wage standard for all but the elite money changers and right wing pol's, Another step in the planned gilded age of the 21st Century

[Jackpine Radical]

2. Indeed.

And if you will tolerate a small intrusion from the Language Nazis, I think you mean "vis–à–vis." In French it literally means "face-to-face."

[ruffburr]

3. Alrighty Then-

Duly noted, I never was very good at french

[Paulie]

7. I'm only good at the pardon my French French.

[rurallib]

4. come back to in the morning.

[mountain grammy]

5. Best commentary ever: Steven Colbert on Reinhart and Rogoff

I love it when he calls them Ren and Stimpy.

http://www.colbertnation.com/the-colbert-report-videos/425748/april-23-2013/austerity-s-spreadsheet-error

[Overseas]

6. K&R. This is excellent! Just what they deserve!

[ashling]

8. They are so misunderstood - SARCASM

They claimed that austerity opponents like Paul Krugman have been so so rude to them for no good reason.

That Krugman fellow was so uncivil

[idwiyo]

9. K&R

[deutsey]

10. It's just another con game by the 1 %

That's the only way they can get their way...deceit, outright lies, rigging the game, manipulation.

Fortunately for them, there's been more than just one sucker born every minute over the past 30 or 40 years.

[Starry Messenger]

11. k&r

[nashville_brook]

12. i have a hard time seeing this as an honest error

deception is more like it.