I may have found a new person to beat onNovember 22, 2012 Tim WorstallTimmy Elsewhere15 CommentsCan Robert Reich actually count? Or do arithmetic? previousAnd I\’m shouting \”Jump, jump you bastard, jump!\”nextPolly still doesn\’t get it, does she? 15 thoughts on “I may have found a new person to beat on” Craig Pirrong November 22, 2012 at 9:44 pm Short answer: No. And when Reich is involved, all answers are short 😛 ~FR November 22, 2012 at 10:36 pm Please- let the beatings begin! sadbutmadlad November 22, 2012 at 11:20 pm A professor of public policy – so no maths required in his job. http://blogs.berkeley.edu/author/rreich/ Andrew M November 22, 2012 at 11:44 pm On your quote, “If you’ve no debts and have $10 in your pocket you have more wealth than 25% of Americans”, is that actually true? Presumably that 25% have a mortgage, hence one might assume they have negative wealth. But they also have a whopping great asset in the form of a house, which (unless they are in negative equity) will be worth more than the mortgage. So who are these people with no assets and massive debts? (Or debts greater than assets.) Just students with huge loans? john77 November 23, 2012 at 12:54 am @ Andrew M “Presumably that 25% have a mortgage” No, these people don’t own houses – they are the bottom 25%!!! They live in rented property or a caravan (“trailer”) and they have debts on their credit card on which they are paying interest. Maybe there are a few with mortgages and negative equity but most of them have neither. Do you live in the same parallel universe as Robert Reich? If someone with $10 is better off than X, and X has “a whopping great asset in the form of a house, which will be worth more than the mortgage”, then you also have a different arithmetic to me (and Tim). Will Honeycomb November 23, 2012 at 9:24 am Nice piece. You might want to get your moonlighting Daily Telegraph sub-editor to reconsider “The Walton’s as a whole…”. One of your grocer errors, as it were. Oswald Thake November 23, 2012 at 11:51 am I always read it as ‘Comment is free, but facts are expensive!’ Dennis The Peasant November 23, 2012 at 4:03 pm After proving himself to be of no consequence when employed by the Clinton Administration, Reich has moved to a second career as an all-purpose blabbermouth for all things progressive. He’s your basic, generic Ivy League boob, and he’s grip on economics is every bit of shaking as Richie’s. Come to think of it, it’s somewhat amazing Reich isn’t prattling away somewhere in the bowels of the Obama Adminstration. Dennis The Peasant November 23, 2012 at 4:04 pm shakey, not shaking… ZT November 23, 2012 at 5:23 pm Dennis, please, please, start blogging again. We all miss you. I still have your sited bookmarked, hoping for the Second Coming. ZT Ian B November 23, 2012 at 6:18 pm It’s that Galbraithian “public intellectual” thing, isn’t it? dearieme November 23, 2012 at 7:36 pm Och, pick on someone your own size, Worstall. Dennis The Peasant November 23, 2012 at 10:27 pm “Och, pick on someone your own size, Worstall.” Why should midgets get a free pass? Pingback: Can the odious Robert Reich perform simple arithmetic? | motorcitytimes.com MikeinAppalachia November 24, 2012 at 6:21 am What ZT said Leave a Reply Cancel replyYour email address will not be published. Required fields are marked *Comment Name * Email * Website Save my name, email, and website in this browser for the next time I comment.