Search Results for: Dean Baker

Jun 30 2015

Confusing Lending and Spending at the New York Times

Protest at Greek parliament building (photo: Marko Djurica/Reuters)

A New York Times headline refers to “trillions” of dollars being spent by central banks. In fact, central banks have not spent this money, they have lent this money, mostly by buying government bonds.

Jun 26 2015

NYT Warns Greece to Accept Endless Depression–Because Default Might Be Painful

Argentine protest (photo: Alejandro Kaminetsky/Reuters)

While the process of switching currencies will never be painless, it must be compared to the pain associated with an indefinite period of unemployment in excess of 20.0 percent, which is almost certainly the path associated with remaining in the euro on the Troika’s terms.

Jun 18 2015

David Brooks Declares War on ‘Democratic Tea Party’–Unarmed With Facts

GDP growth in US and Mexico since NAFTA

The New York Times pundit pulled out all the stops, using his column to yell at “Tea Party” Democrats for not supporting the fast-track authority that would facilitate passage of the TPP.

Jun 11 2015

‘Say Anything’ Time to Pass Fast Track

George Washington in snow, Union Square, NYC (cc photo: Jim Naureckas)

TPP supporters claim that over 10 years, the trade pact could increase US GDP by as much as half as much as it was decreased by last winter’s snowy weather. That’s probably overly optimistic.

Jun 03 2015

Poor People Can’t Afford Homes–so NYT Calls for Making Them More Expensive

Monopoly houses (cc photo: woodleywonderworks)

It is bizarre to note that low-income people spend a disproportionate share of their money on housing and then complain about low house prices.

May 28 2015

Look, a Deficit!: How NPR Distracts You From Issues That Will Actually Affect Your Life

$100 bills (Mark Wilson/Getty Images)

Billionaire Pete Peterson is spending lots of money to get people to worry about the debt and deficits, and National Public Radio is doing its part to try to promote Peterson’s cause.

May 22 2015

Jeff Bezos’ Paper Assures Us System Isn’t Rigged for Amazon

Jeff Bezos

A Washington Post op-ed says that Borders bookstores didn’t close “because the economic system was rigged against ordinary Americans. They closed because technology brought us Amazon and the Kindle.”

May 13 2015

Some of David Brooks’ Best Friends Are Progressives–So Long as They Don’t Scare the Wealthy

Bill Clinton and Tony Blair

For political purposes, it is undoubtedly advantageous to imply that the “opportunity” progressives favored the market more than the “redistributionist progressives,” but it is not true.