Austerity has many victims, but only few creators; even some who can't even add correctly.
Pete Peterson Linked Economists Caught in Austerity Error
by Mary Bottari, prwatch.org, Center for Media and Democracy -- April 18, 2013
Pete Peterson's Fingerprints
[...]
[Carmen] Reinhart, described glowingly by the New York Times as "the most influential female economist in the world," was a Senior Fellow at the Peterson Institute for International Economics founded, chaired, and funded by Peterson. Reinhart is listed as participating in many Peterson Institute events, such as their 2012 fiscal summit along with Paul Ryan, Alan Simpson, and Tim Geithner, and numerous other Peterson lectures and events available on YouTube. She is married to economist and author Vincent Reinhart, who does similar work for the American Enterprise Institute, also funded by the Peterson Foundation.
Kenneth Rogoff is listed on the Advisory Board of the Peterson Institute. The Peterson Institute bankrolled and published a 2011 Rogoff-Reinhart book-length collaboration, "A Decade of Debt," where the authors apparently used the same flawed data to reach many of the same conclusions and warn ominously of a "debt burden" stretching into 2017 that "will weigh heavily on the public policy agenda of numerous advanced economies and global financial markets for some time to come." [...]
When Washington Post writer Suzy Khimm pointed out to Peterson that the U.S. built significant deficits during the financial crisis but maintained very low interest rates, Peterson responded that America still needed to be on high alert: "you know [Kenneth] Rogoff and [Carmen] Reinhart -- I've talked to them, and they say [debt crises] are sudden, they're sharp, they're very substantial. The risk is simply too big. At some point, if we lurch from crisis to crisis, then confidence will decline on our economy in general."
Hat Tip to
joanneleon, for "suspecting" the likelihood of this
Peter Peterson linkage to Reinhart and Rogoff.
Turns out she was right.
Austerity Math-errors matter.
Find out how and why ...
Selected filtering and obscuring of data points, so that it proves your thesis -- along with tallying up only some of your own cherry-picked data -- makes for one very Debunked Peterson-associates Report!
Austerity Math Matters -- especially when it's Wrong
by jamess -- Apr 26, 2013
Cheers! Happy down-sizing, People!