Tuesday, November 26, 2013

Rick Newman of the The Exchange needs a brain

Despite all this, the economy is still growing, which is somewhat remarkable. But lopping even 1 percentage point off GDP growth can have a huge impact on the job market and disposable income, and it’s likely Washington has done more harm than that so far this year. Zandi estimates that, if political uncertainty had remained at 2007 levels during the past few years instead of skyrocketing on account of fiscal mud-wrestling, the unemployment rate would be 6.6% today instead of 7.3%. That’s a lot of additional people with disposable income, and a lot fewer applying for unemployment aid or other government benefits. Yahoo Finance

Here the idiot makes the same contradictory evidence as all the Multiplier greater than one crowd. What is his logic? Well, Quite simply, since Mark Zandi was about 50% off the mark, predficting a 1.7% YoY growth in third when we got what Neman describes as a surprising result, 2.5%, and that confirms that Zandi is a dunce. So what does Newman decide? If dunces are correct then I can make contradictions to confirm my bias.  He just  confirms the Free Exchange is a delusional bunch.

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