Posted on 08/19/2012 4:54:25 PM PDT by blam
Niall Ferguson Has Been Wrong On Economics
Joe Weisenthal
Aug. 19, 2012, 6:44 PM
Niall Ferguson has a huge piece in The Daily Beast saying Obama needs to get fired titled: "Hit The Road, Barack."
It's basically an ell-encompassing takedown of Obama's record on the economy (it still sucks), the deficit (it's getting bigger) and America's standing in the world (The Mideast has not gotten safer).
It even hits Obama for stuff like this, which seems totally inevitable at some point, regardless of who is President.
Newsweek
Anyway, as you read Niall Ferguson, it's worth noting that he has been wrong on economics ever since Obama took office.
Here in the Summer of 2009 (just after the crisis) he declared that the bond market was already (!) showing signs of rebelling against massive deficits. He wrote:
On Wednesday last week, yields on 10-year US Treasuries - generally seen as the benchmark for long-term interest rates - rose above 3.73 per cent. Once upon a time that would have been considered rather low. But the financial crisis has changed all that: at the end of last year, the yield on the 10-year fell to 2.06 per cent. In other words, long-term rates have risen by 167 basis points in the space of five months. In relative terms, that represents an 81 per cent jump.
Most commentators were unnerved by this development, coinciding as it did with warnings about the fiscal health of the US. For me, however, it was good news. For it settled a rather public argument between me and the Princeton economist Paul Krugman.
It is a brave or foolhardy man who picks a fight with Mr Krugman, the most recent recipient of the Nobel Prize for Economics.
(snip)
(Excerpt) Read more at businessinsider.com ...
“Let’s see Mr. Ferguson’s last 10 years of income tax returns. We were told that he paid no taxes. If he shows those, we won’t ask for the last 25 years and audit him for the rest of his life.”
“We were Just told that Mr. Ferguson molests little girls. Forget the arrangement about the tax returns.”
Someone tell me why Jews like this guy kiss a marxist’s ass????????? What, Stalin didn’t purge enough Jews for him???????????????????? Pathetic.
Yeah, well, when the award when to Krugman, I lost respect for the folks making THAT decision. Seems like the panel that awarded that Nobel is in the same political vein as the one that awarded Algore and Barack Obama THEIR Nobel Prizes.
Don’t forget Arafat and jimmie carter
...and Le Duc Tho.
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