Osborne’s Hadron Erm Herndon Just Collided

(Reuters) – When Thomas Herndon, a student at the University of Massachusetts Amherst’s doctoral program in Economics, spotted possible errors made by two eminent Harvard economists in an influential research paper, he called his girlfriend over for a second look. As they pored over the spreadsheets Herndon had requested from Harvard’s Carmen Reinhart and Kenneth Rogoff, which formed the basis for a widely quoted 2010 study and used by Osborne to justify his ‘Austerity Program’, they spotted what they believed were glaring errors. “I almost didn’t believe my eyes when I saw just the basic spreadsheet error,” said Herndon, 28. “I was like, am I just looking at this wrong?  There has to be some other explanation. So I asked my girlfriend, ‘Am I seeing this wrong?'”  http://www.reuters.com/article/2013/04/18/global-economy-debt-herndon-idUSL2N0D503020130418 Even Christine La Garde is wondering about Osborne says Telegraph http://blogs.telegraph.co.uk/finance/jeremywarner/100024107/now-even-christine-lagarde-is-wobbling-on-uk-austerity/ NLAT and that Guardian article – http://www.guardian.co.uk/politics/2013/apr/18/uncovered-error-george-osborne-austerity

One of ‘The Flock’ – ‘The term Expansionary Fiscal Contraction is the best oxymoron to be ever invented and peddled by Gideon & Beaker.  To expand the economy whilst ur stripping money out of it is laughable and based on a disproved theory of ‘crowding out’ i.e. public sector investment stops private sector from expanding.  Even Thatcher had to ditch these barmy ideas in the middle of Premiership.   More back of a fag packet economics from 2 of the most incompetent politicans ever to enter government.’

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This entry was posted in Anti Cuts Movement, Bullingdon Bureaucrats, Economy Train Wreck, Election 2015, FibDems, How to Identify Tories, IMF, ITEC News, Money Matters, NLAT, Osborneomics, Spin Spin Spin, Tories Shafting Business Right and Left, Tory Party 2015 General Election Team, Truth Movement, Watford Coalition of Resistance and tagged , , , , , , , , , , , , , , , , . Bookmark the permalink.

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