Have you heard? Wonderful, wonderful news. The economic “austerians” have been defeated!
The deficit cutters and budget balancers have been routed in the field of economics. All those worries about government debts have been debunked. It turns out Kenneth Rogoff and Carmen Reinhart, the academics who provided the intellectual justification for cutting deficits, actually got their math wrong. Their 2010 paper, which said economic growth slows once debt hits 90% of gross domestic product, involved some spreadsheet errors (as the two have now acknowledged, most recently in an op-ed in today’s New York Times). Everyone on the left, from Paul Krugman to Stephen Colbert, has formed a massive conga line. Da-da-da-da-da-DA, da-da-da-da-DA…
We can now borrow, and print, all the money we need. Gold has collapsed. Happy times are here again …
Or so a lot of people are saying. Turns out, though, there is a lot more to the story. And you’re not hearing that side.
...
http://www.marketwatch.com/story/why-everyone-is-wrong-about-austerity-2013-04-26
Wine is sunlight, held together by water - Galileo Galilei
Un jour sans vin est comme un jour sans soleil - Louis Pasteur
Water separates the people of the world; wine unites them - anonymous
Wine is the most civilized thing in the world - Ernest Hemingway
Wine makes daily living easier, less hurried, with fewer tensions and more tolerance - Benjamin Franklin
