Jul 06 2015

After Greece Cuts a Quarter of Its Budget, WaPo Asks if It’s Willing to ‘Trim Spending’

Greek Voters

from 2010 to 2015, Greece has cut government spending from roughly 13 billion euros to 10 billion euros–a cut of 23 percent.
In the Washington Post’s eyes, though, Greece has not yet demonstrated the willingness to “trim its spending”

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 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 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.

Apr 27 2015

NYT Lets Economic Pundit Disappear TPP’s Economist Critics

Paul Krugman, Joseph Stiglitz (cc photos: Prolineserver, Raimond Spekking)

You would never know, reading Greg Mankiw’s piece, that many economists in fact oppose TPP and fast track. Or that economists can and do reject the characterization of TPP and the like as “free trade” bills.

Apr 20 2015

Why Don’t Americans Want to ‘Soak the Rich’? It’s a Trick Question

Monopoly: Pay Poor Tax of $15

The New York Times has a post by Neil Irwin headlined “Why Americans Don’t Want to Soak the Rich.” But looking at polling over time on taxing the wealthy, what’s striking is how consistently popular it is.