I got a good chuckle from this comment over at Mark Thoma’s website:
Via email, I was asked if this is the “stupidest article ever published?”:
If not, it’s certainly in the running.
The articles promotes the Shadow Stats views and the idea that the USA is on the verge of catastrophe. In essence, they argue that inflation has been massively understated, the US government is on the verge of financial insolvency and that GDP is actually lower than it was in 2002.
I’ve touched on the Shadow Stats and hyperinflation views enough in the last 5 years that I don’t think I need to repeat myself. Besides, Mark Thoma’s comment pretty much covered all the necessary bases there. People who still buy into the views of the hyperinflationists and Shadow Stats are working from what has been a seriously discredited framework….
- The Trouble with Shadow Stats
- There’s Still Deflation in Hyperinflation Forecasts
- Stop with the “Money Printing” Madness
- Why the USA isn’t Going Bankrupt