I know a Paul Krugman dig when I see one 
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I'm going to scrape the entire archives of his column and extract specific contradictory claims he made about when deficits do or don't matter, whether a policy change was "too little, too late" or not, and so on.
Boy is he a treasure.
pic.twitter.com/HyWonYqZdX
End of conversation
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Every time someone makes ANY macroeconomic claim and ties it to partisan politics, I direct them to this interactive: https://projects.fivethirtyeight.com/p-hacking/ Macroeconomic claims have way too many variables with unpredictable latency to attribute success/blame to one party or another.
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And: it’s far easier to Macro-BS than Micro-BS -
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At LSE, probably half the masters students come in wanting to do Phds in macro. Then they take their first grad macro class and...
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There are articulate experts who communicate brilliantly with confidence. But they weave their known unknowns into the discussion.
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this can be applied to so many things
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@Ruminorang Yeah, like with anything in your life. Be humble.Thanks. Twitter will use this to make your timeline better. UndoUndo
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It’s all about the margin of error.
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Main stream macro economic theory, imop, has been coopted by powerful groups to perpetuate a particular narrative for political reasons. This has caused deep divisions in the profession and continues to cause huge damage to their credibility.
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In other words, we shouldn’t have tax cuts because the proponents of tax cuts lack this same level of humility (also they’re wrong)
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Huh, I have always assumed when someone makes a statement without backing it with facts that it’s just an opinion. Adding IMHO to every such statement seems unnecessary. I’d rather just see the facts.
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Macro people with skin in the game often use stop-loss orders, but there’s rarely a pundit equivalent.
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