Idiot macroeconomics


@RichardJMurphy Richard Murphy
US economy ends year on a high note | The Guardian > What a difference a stimulus makes
The size of the stimulus is the size of the budget deficit.
Budget deficits in the UK and US have been rather similar in the last couple of years, around 10% of GDP.
So we\’ve had as much stimulus as they have.

4 thoughts on “Idiot macroeconomics”

  1. I haven’t noticed many US websites lauding their low unemployment rate or their low level of indebtedness.
    If that’s a high note I don’t want to hear a low one

  2. He’s a progagandist, a proven liar, not a seeker after truth. Of course, he’d push the “the UK hasn’t had any stimulus” line.

  3. “Stimulus” doesn’t work. Basic economics tells you that you can’t borrow yourself out of debt any more than you can fuck yourself back to virginity!

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