Scott Sumner on the GOP's Cunning Plan

     Sumner and I have not been lovebirds-what else is new. You can read about it in a recent comments thread.

     "As far as you claim that you understand economics, I’d say either you are in way over your head, or you are a liar. Which is it? For instance, when you say:"

   “I’m sick of you seizing every data point as somehow once and for all ‘disproving Keynesianism’ or proving that austerity works, that it stimulates, a la Rogoff and Alesina.”

     "Are you intentionally lying, or just clueless as to what I am arguing?"

   http://www.themoneyillusion.com/?p=24017&cpage=1#comment-282797

   Actually, the answer is: neither. Sumner is an advocate of fiscal austerity. I don't come to this conclusion out of ignorance but actually knowledge-of his agenda chiefly. 

   Let's take it from a different angle. Here he said something else in the comments section with which I actually agree: that the GOP strategy isn't going to work. 

   " I agree that the debt ceiling brinksmanship is ineffective (unless Obama is stupider than he looks.) As far as the government shutdown, I’m dubious it will work. It seems to me that Obama has the upper hand, and little reason to negotiate. His only chance of passing the legislation he supports is if he takes the House in 2014. That’s really tough to do in the 6th year of a Presidency. His only hope for doing so is if the GOP shuts down the government for a very long period of time."

     So I agree with Sumner here-he's dead right: GOP brinksmanship isn't going to work anymore than it did in 1995 or 2011. However, in another comment in answer to Morgan Warstler, he said a mouthful:

     "Morgan I’m still skeptical of the GOP position. They seem to be in too weak of a position to win this. I hope I’m wrong."

      So he supports the GOP brinksmanship but fears it won't work. 

      "http://www.themoneyillusion.com/?p=24043

       You should read the whole threat between me and Sumner. I particularly like where I say this to him:

      “Mike, I told you from the very beginning that you should not be blogging on economics. You don’t understand the field, and there’s no point in writing a blog on economics if you don’t understand the topic you are writing about. You need to stop writing your blog and start studying economics. When you’ve learned some economics you can resume your blog.”

       "Well Scott we live in a free society and a free market so even the ignorant can write blogs assuming they find a market. I have indeed done so. Some of my readers are actually economists, including friends of yours. Nick Rowe has regularly read me as has Marcus Nunes. Lars Christensen has read me and even wrote a post about my blog."

       "Delong has linked to me. Steve Waldman at Interfluidity has linked to me.

      "Why would guys like this read a blog where the writer doesn’t understand the field? I’m sure you’ll try to duck the question but it’s obvious in any case. You say I’m ignorant not because I am but because you’re full of sour grapes and spite."

      Still Sumner is right: the GOP is doing its best to make the impossible-losing their House majority in 2014-possible. As Krugman and Sumner have noted the GOP is the stupid party. It didn't used to be so. 

      "During the Bush years, I would often run into people mocking W for being stupid. I never thought he was — incurious, anti-intellectual, but not stupid. And the people around him certainly weren’t stupid — cynical, dishonest, but not stupid, especially regarding matters political."

       "The current situation is different. These guys are cynical and dishonest — but they’re also very, very stupid."

     http://krugman.blogs.nytimes.com/2013/10/04/hapless-and-hopeless/?_r=0

     Finally, I'm happy to report that Nanute is still very much alive-he was just on the lam somewhere. He gave me the inspiration for this post when he quoted the Black Adder on the GOP's 'cunning plan.'

     

      

     "Me, I'm going long tin foil. In an effort to impose austerity and less government spending the Republicans have shut down the government, furloughed workers, and agreed to give the overpaid, lazy government workers a paid vacation. In the words of the great Baldric from Black Adder the Republicans "have a cunning plan."

      http://diaryofarepublicanhater.blogspot.com/2013/10/so-why-has-gop-shutdown-government.html?showComment=1381277392978#c8644527722218212917