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Sunday, May 10, 2015

This is Scott Sumner Taking a Joke

     I find this impressive-I mean how does one even get this thin skinned? I'm assuming he was toilet trained at gunpoint.

     It all started out when he made this comment that cuts his GOP buddies off at the knees.

     "Fracking is a statistical error, nothing more.  That’s why oil producing Oklahoma and Louisiana grew more slowly than the national average, despite the oil boom. "

      http://www.themoneyillusion.com/?p=28271&cpage=1#comment-389049

      I made a lighthearted comment that pointed this out and he became incensed and exploded in vitriol. 

      "You really are a moron. The GOP claims the growth in Texas is due to good government, not fracking. You could find a good argument if you tripped over it. I can understand that you have never received any training in economics, but politics? Is there anything you are good at?"

     Now here's a guy that holds a grudge-I haven't even left a comment over there in awhile. As usual he exaggerates wildly. I didn't intend this as any deep comment-it's pretty obvious that the GOP has tried to benefit from the shale boom. To say it's not the shale boom but 'good governnance'-as if the GOP would know about good governance if it bit them on their trunks-after all they're elephants...-this is the party of perpetual debt ceiling chicken and shutting down the government-shows what an unconscious comedian he is. 

     The GOP doesn't even believe in governance at all much less the good kind. All this can mean is lower regulations and lower taxes for the rich-Sumner only advocates those type of tax cuts though he claims that a 'progressive consumption tax' is not a contradiction in terms. 

     He claims that I'm ignorant of economics but with all his alleged training it doesn't seem like many of his own fellow economists see him as a real economist. 

     Maybe he's this frustrated because the NGDP futures market thing is such a failure. Who knows? 

     Ok, you might say that he's hostile to me as I raz him on my blog so much-but allegedly he doesn't read it...

      Here he goes again, projecting himself onto others:

     "You thought Japanese QE depreciated the yen?  That’s just your imagination.  You think QE recently caused the euro to depreciate?  You are hallucinating.  The dollar fell 6 cents on the day QE1 was announced, in March 2009?  That’s a coincidence."
    
    "GDP growth accelerated in 2013, despite a $500 billion decline in the budget deficit, and hundreds of Keynesians predicting a slowdown or even recession?  Nothing to do with QE."

       http://www.themoneyillusion.com/?p=29393#comments

        Talk about hallucinating-no 'Keynesians' of note claimed there would be a recession in 2013. He has never shown anyone predict this. Notice that he never provides links to all these big claims of his. Thanks to austerity the 2013 economy grew slower than it otherwise would have. That's all Keynesians need to prove; they don't need a recession to show austerity was a bad idea. 

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