Tuesday, October 18, 2011

Crazy Liberals and Their Crazy Liberal Ideas

You mean austerity doesn't improve economic growth??? Krugman: (via atrios)
Right now, the two most prominent institutions calling for an end to the disastrous turn to short-run austerity are … Goldman Sachs and the International Monetary Fund.

Brad has written about the Goldman memo, which calls for a nominal GDP target — that is, a future dollar value of GDP — that would in effect both promise a significantly higher inflation rate over the medium term and require very large quantitative easing. We need to be careful about this: it’s a proposal from the excellent Jan Hatzius, not official GS policy. But still.

Meanwhile, the IMF special report for the G20 (pdf) is essentially a declaration that the focus on universal austerity was wrong, wrong, wrong. It’s a lot milder than it should be — the Fund is still, for example, endorsing the Cameron austerity plan. But it pretty much flatly says that Congress should pass the Obama jobs bill.
Atrios asks if we can start giving these "the master of the universe jobs" to people who haven't taken 2-3 years to figure this out?


If so, I vote for this guy.


  1. With that sort of endorsement, I think I need to start writing on the blog! 9s-9s-9s