I deleted a post because it's not clear who is right and who is wrong. It's too bad because McArdle made up a grossly wrong chart, which I found very amusing, and indulged in a choice bit of reality massaging. But despite the considerable wrongness, she might have been right about one aspect (not mathematical or economic, of course), so I decided to pull the post.
Ah, that explains why my comment with four links (two Congressional Research Service, one BBC last year, one Wikipedia) showing that McMegan is wrong didn't post.
ReplyDeleteShe's wrong on the politics, wrong on the economics, wrong saying "35 cents on the dollar," and wrong about how Argentina has been hurt.
Other than that, she might be right about something.
So instead, here's something o.t.:
ReplyDeleteRT @KeithOlbermann: RT @brianbeutler: RT @HuffPostHill: "I am drowning in debt. I can't afford my car repairs. There is a giraffe shitting on my yard. I am the Ohio 99 percent."
~
I read Megan's post fast (it was painful. She did a long, utterly meaningless riff in the middle about how Argentina had lost some access to credit, which gave bankers a sad but doesn't seem to have hurt anything). It seemed to be a mssively rewritten version, with no trail showing what was up in the first place. The only remaining point she had was that the panelists on some show had said something in the closing comments that contradicted everything they'd said previously, so Krugman is a poopyhead for complainng about the rest of the show.
ReplyDeleteWhich is consistent with the many times Megan has wallowed in idiocy for 1000 words then totally contradicted herself in conclusion, and been upset when people focused on the idiocy.
Now she's telling us that income inequality isn't so bad after all! She does not mention wealth inequality.
ReplyDeleteAre you referring to this doozy?"
ReplyDeleteThe 1% Ain't What It Used To Be (http://www.theatlantic.com/business/archive/2011/10/the-1-aint-what-it-used-to-be/247011/)
This may be her most absurd effort to date...
Without looking, is she griping that her salary puts get in the top 1% and it's barely enough to pay the mortgage, much less enough to support her in the style of her tryst fund schoolmates, to which she is so clearly entitled?
ReplyDeletehttp://www.tnr.com/blog/timothy-noah/96514/mcardle-inequality-so-five-minutes-ago
ReplyDeleteNot that Noah is correct either, but here we are.