What does this mean for the stimulative effects of tax cuts, transfer payments, or any other kind of government spending? What does it mean for the savings rate--savings could conceivably go up as a fraction of income at the same time it goes down in absolute terms. I don't know--I'm not even sure how we could know. Has any other country ever had this level of personal debt before?
Gosh, Megan, I don't know. Why don't you look it up, do some thinking, and blog about it, instead of asking us? Isn't that your job?
We are being led by children. [Correction--We were being led by children. Now it's time to get rid of the rest of the Bush croud.]
Posts like this are why it's such a joke that Megan calls herself a journalist. If she had any training in the field, or even the slightest clue for that matter, she would know that you never come out and essentially admit you don't know something about a subject you're supposedly an expert on. She basically wrote "I don't know what I'm writing about, and I'm too lazy to research it, so can you all please do my job for me?" She's an embarrassment to writing.
What does she think her job actually is? I remember she said she had a financial services job where they stood around and did nothing, but does she expect journalism to be like that?
It's not standing around doing nothing, it's writing about it.
It's the Twitterfication of the journalism profession!
This is how stupid she is:
In her "Quote of the Day" post right below this one, she confuses stimulus with bailout. The post is about the $500,000 salary caps financial executives will have to live with--but she prefaces it by writing, "Regarding Obama's stimulus package"
Anyone with a brain knows that the salary cap is part of Obama's bailout plan, and has nothing to do with his stimulus plan. These are two separate things--but the "editor" of the Atlantic's business page doesn't understand this.
Is it that she's clueless or just slipshod?
She basically wrote "I don't know what I'm writing about, and I'm too lazy to research it, so can you all please do my job for me?"
If so, then McArdle is guilty of plagarizing Jonah Goldberg.
She's very slipshod and hates to be corrected. It makes for a lot of fun.
Dillon--heh. Now all she has to do is marry money to be like Jonah.
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