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Once in 75 years
April 27, 2013 - Harry Eagar
The reality-based economic community has been having great fun with two rightwing Harvard economists (you read that right) who cannot do simple inputs in Excel. Sort of like George Bush not knowing how to buy groceries.
Anyhow, you know they're not going to recant because faith-based economics don't need no steenking spreadsheets. They even went to the NY Times to demonstrate what clucks they are (not their intention but that's how it reads).
If you haven't followed this sordid story story of rightwing idiocy, you don't actually need to. All you need to read is Rogoff and Reinhart's own summation. Here it is:
"We have long emphasized the need to use the whole tool kit creatively in the aftermath of a once-in-75-year financial crisis."
Hmmm. And why, one wonders, did the financial system go 75 years without a crisis, when in the previous century it had never gone longer than 7 years?
Could it be New Deal regulations?
Why, yes, it could!
(Wonkette has some hurtful things to say about the professors. It's pretty funny if you're not them.)
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