Here he reports on the effects of a $10 change in oil prices.
So, the question then becomes, does that chart indicate a general oil glut? Oil, right now, varies over a $5 span before we see this effect, an effect that Yglesias agrees with. How in the hell does he think a $1 trillion dollar fiscal stimulus will have a multiplier greater than one when he himself has discarded the general glut theory?
The answer? He will just make something up in an upcoming post. I hope Ydiot will grab onto this error.
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