Not Trampis

Wednesday, 20 March 2013

Austerity Advocates Apologise

Those people who have advocated expansionary austerity should now fess up and apologise.

Their theory was wrong. Empirical evidence,as we have seen previously ,demolished this theory.

Now Europe has now shown it to be complete claptrap.

No country that had embraced has experienced a recovery. In fact it has been quite the opposite.

People such as Trichet and Rehn in Europe should hang their heads in shame that they have put a lot of people on the unemployment scrapheap.

Here in Australia would it be too much to ask peope such as Carling, Kirchner , Davidson , Kates et al simply to admit they got it completely wrong and resign from their jobs!

This sums it up well.

Around the Traps 22/3/13

Here it is again for this week.

Please note I do not agree with all the articles cited but they are damned interesting!

I will add more if articles occur over the day.

The cricket team I coach is in the final and then I umpire in the senior finals so the week-end is packed again.

Aussie,Aussie,Aussie,Oy,Oy,Oy

Peter Martin is not happy
John Quiggin tells us peace-breaks-out-in-ozblogistan and sceptics-and-suckers-a-look-back-at-iraq
The Kouk tells us we have never-had-it-so-good
Ross Gittins tell us that tax-facts-contradict-voters-perceptions and we maybe racist!
Paul Fritjers writes about cheaper-medicines-now
Sinclair Davidson shows us how he doesn't understand the english language
Kim asks whether -labor-needs-a-primary-vote-in-the-low-40s-to-win
Simon Jackman on why are the ALP's odds improving at Centrebet?
Ricardian Ambivalence on why-cyprus-matters-for-the-rba
Mumble looks atnothing_ventured_nothing_gained
Brian Banisch finds new-bigger-better-hockey-stick
Matt Cowgill finds David Uren playing-games-with-tax-statistics

Mark Thoma on cogan-taylor-and-the-confidence-fairy ( links to Kruggers, Noah Smith) Kruggers again
Mark Thoma gives us Tim Duy who tells us fed-watch-the-war-on-common-sense-continues and the-recovery-is-real
Mark Thoma points us to Henry Farrell who telus about economists-and-the-theory-of-politics
Calculated Risk gives us a-few-comments-on-housing-starts and sees -architecture-billings-index-rises
Jim Hamilton thinks about The Fed's balance sheet
Compatriot Menzies Chin looks at building_us_competitiveness and iraq_metrics_
j-bradford-delong-for-democracy-journal-shrugging-off-atlas
Macroblog being-ahead-of-the-curve-not-always-a-good-thing
Peter Orszag tells us medicare-cost-slowdown-could-close-u-s-budget-gap
Kruggers on stimulus-derangement-syndrome
Canada actually but they are having trouble with their federal-budget-forecasting
Steve Roth is amazed scott-sumner-does-not-understand-that-s -doesn't -equal- i
Brad De Long sayssay-it-aint-so-alberto

Europe

Kevin O'Rourke on gary-ocallaghan-on-conveniently-flexible-moralising
Brad De Long on the-future-of-the-euro-lessons-from-history
Philip Lane on the-special-case-of-cyprus
Kevin O'Rourke on bank-guarantees-how-to-make-matters-even-worse ( EU what are you thinking?)
Philip Lane on buchheitgulati-walking-back-from-cyprus
Kruggers on round-trips-to-cyprus and cyprus-the-sum-of-all-fubar
Pro-Growth liberal on cyprus-taxes-and-russian-transfer-pricing
Simon Wren-Lewis on the-2013-budget-and-uk-monetary-policy
Jonathon Portes finds weve-got-deficit-down-by-quarter-no.-a-third is wrong

General

Lord Keynes on the-classical-gold-standard-era-was-mythl , hayek-on-the-flow-of-goods-and-services and hayek-on-aggregate-demand-in-depression
Grog's Gamut looks at US and OZ GDP rates

Statistics ( well mostly Andrew Gelman)

the-disappearing-or-non-disappearing-middle-class
tibshirani-announces-new-research-result-a-significance-test-for-the-lasso
mertzs-reply-to-unzs-response-to-mertzs-comments-on-unzs-article
retraction-watch (amusing)
my-talk-at-montana-state-university-this-thursday
Good stats Bad Stats on life expectancy and wealth
Menzies Chin on heritage_on_seasonal_adjustment

Wonkish

Kruggers on misunderstanding-is-lm-wonkish-and-unimportant
David Glasner is on a roll keynes-and-hawtrey-the-general-theory and keynes-v-hawtrey-on-british-monetary-policy-after-rejoining-the-gold-standard
Nick Rowe on fiscal-policy-with-old-and-new-keynesian-is-curves
Livio De Matteo on crime-and-police ( Canada)
Mark Thoma sends us to inequality-rising-and-permanent-over-past-two-decades

Voxwonk

Monday, 18 March 2013

Budgetary Costings

Now that Wayne Swan has set up the Parliamentary Budget Office there is no excuse for an Opposition to not to have detailed costings.
The PBO can do this very easily for any policy position any party has.
The Opposition has no need and nor should it release its costings until the PBO puts it imprimatur on it which would occur AFTER the release of the PEFO.

Wayne Swan has also got the PBO to lok at all parties costings and to release their findings after the election.

Unlike Peter Costello's effort re Charter of budget honesty this has been clearly thought through. The Charter of budget honesty was only an asset to the Government of the day. The Opposition was always at a disadvantage.
Now it is a level playing field because of the PBO.

It will be interesting to see how the opposition responds. They clearly and undeniably lied about their 'costings' in the last election.

We will also see if they recognise the economic circumstances of the day here in Australia. We already have a contractionary budget. With weak nominal GDP growth the last thing needed is a more contractionary budget that at present.

Thursday, 14 March 2013

Around the Traps 15/3/13

Here we are again.

Another great week and no I am not a David Glasner groupie. I actually disagree with him but he is always interesting and courteous!

Aussie, Aussie, Aussie, Oy, Oy, Oy