Chris Turner, a guest contributor at Advisorperspectives.com, takes apart one of Paul Krugman’s recent commentaries. When he is finished, Krugman’s claims of “unprecedented austerity” by the Obama administration is shown to be a farce. Turner also includes many great charts showing the state and change of government spending over time.
Read the article here.
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Nice fuck that bearded assclown
Sorry, Wood. That isn’t true.
Turner reconstructed Krugman’s chart, though he did the final step in words rather than in pictures:
“Krugman’s analysis becomes more clear in showing that the “rate of change” has slowed since 2009. By simply applying a CPI adjustment, the rate of change would become negative and explains the first chart in decline.”
It is not controversial to state that the use of real dollars is more accurate than is the use of nominal dollars when comparing government spending in different years.
Therefore, I suspect that you don’t really want to argue the position that it was “outright deceptive” of Krugman to use real dollars rather than nominal dollars to show that Government Consumption Expenditures & Gross Investment has been in decline since late 2010.
So, tell me what you saw in Turner’s “rebuttal” that proved Krugman’s chart or accompanying comments (see http://krugman.blogs.nytimes.com/2012/04/27/the-secret-of-our-non-success/ ) to be purposely deceptive.
From my reading, Turner reconstructed Krugman’s chart, didn’t address Krugman’s commentary, then let loose of barrage of charts that weren’t directly related to anything in Krugman’s blog post.