Monday, 24 June 2013

Austerity is crap- Special Simon Wren-Lewis edition

Simon Wren-Lewis is angry, very angry. He simply cannot understand the-intellectual-bankruptcy-of-the-austerians.

What has got him going is the latest annual report from the Bank for International Settlements.

He is severely cheesed off they are ignoring all the evidence and still in a very shrilly way advocating policies that are making things worse not better. See Kruggers here as well.

Simon appears to be just finding out that these people are just like old fashioned communists.
Evidence never matters here. It is all about ideology or as Simon puts it faith.

In Australia we have had a long experience of people such as this. Catallaxy has been such a blog since Jason Soon gave up control. You either get articles which are stark raving mad or entirely misleading
(euphemism!) .

Simon doesn't get down to this but we must ask which of the two is the BIS?

I simply think they are mad since the evidence is entirely against their case but they keep on believing. Call it the Steve Kates disease!