Category Archives: Dubious statistics

Bill Black: The EU Center-Right and Ultra-Right’s Continuing War on the People of the EU

The New York Times has provided us with an invaluable column about the interactions of the EU’s rightist and ultra-rightest parties. It is invaluable because it is (unintentionally) so revealing about the EU’s right and ultra-right parties and the NYT’s inability to understand either the EU economic or political crises. The NYT article illustrates its points by presenting a tale entitled “A German Voice, Hans-Olaf Henkel, Calls for Euro’s Abolition.” It treats Henkel, an open racist and austerian, as a reputable figure, apparently because he is wealthy.

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The Federal Reserve Versus Hyman Minsky (and Deflation)

How the Fed has gotten itself caught in its own underwear by ignoring Hyman Minsky and in persisting in the clearly failed strategy of super lax monetary policy rather than calling for more government spending.

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The BLS Jobs Report Covering April 2014: A Tale of Two Contradictory Reports And Deeply Mixed Messages

By Hugh, who is a long-time commenter at Naked Capitalism. Originally published at Corrente. A complete archive of Hugh’s reports can be found here The Jobs Report in Brief This is a very schizophrenic jobs report. In the seasonally adjusted “official” data, the unemployment rate dropped an amazing four-tenths of a percent to 6.3% but […]

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Tax Havens Make US and Europe Look Poorer than They Are, Exaggerate Size of “Global Imbalances”

Peculiarly, despite the importance of tax havens, a pathbreaking paper published in 2013 by Gabriel Zucman of the Paris School of Economics, The Missing Wealth of Nations: Are Europe and the U.S. Net Debtors or Net Creditors? (hat tip Dikaios Logos) has received perilous little attention. Perhaps that’s because, among other things, it undercuts the Bernanke-flattering claim that “global imbalances” were a major driver of the financial crisis.

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Jeff Madrick: Why the CBO Can’t Be Trusted

Yves here. I’ve written from time to time how openly partisan the Congressional Budget Office is, not in the traditional sense of favoring one party over the other, but as serving as an key enforcer of neoliberal ideology. For instance, its projections of government debt to GDP ratios were highly misleading by virtue of failing to net out financial assets. And after being called out for that error in paper, what did the CBO do? Make it even harder to find the data to prove the magnitude of their misdirection.

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