Upcoming Events

International | Anti-Capitalism

no events match your query!

New Events

International

no events posted in last week

Blog Feeds

Public Inquiry
Interested in maladministration. Estd. 2005

offsite link Formal complaint against Robert Watt Anthony

offsite link RTE bias complaint Anthony

offsite link Fergus Finlay and the maternity hospital ‘gotcha’ trap Anthony

offsite link Irish Examiner and fake news Anthony

offsite link Labour Party: The unvarnished truth Anthony

Public Inquiry >>

Human Rights in Ireland
A Blog About Human Rights

offsite link UN human rights chief calls for priority action ahead of climate summit Sat Oct 30, 2021 17:18 | Human Rights

offsite link 5 Year Anniversary Of Kem Ley?s Death Sun Jul 11, 2021 12:34 | Human Rights

offsite link Poor Living Conditions for Migrants in Southern Italy Mon Jan 18, 2021 10:14 | Human Rights

offsite link Right to Water Mon Aug 03, 2020 19:13 | Human Rights

offsite link Human Rights Fri Mar 20, 2020 16:33 | Human Rights

Human Rights in Ireland >>

Lockdown Skeptics

The Daily Sceptic

offsite link Salman Rushdie Stabbed in New York Fri Aug 12, 2022 17:21 | Toby Young
The writer Salman Rushdie was stabbed earlier today while speaking on stage at an event in Buffalo, New York. He was air-lifted to hospital where his condition is unknown.
The post Salman Rushdie Stabbed in New York appeared first on The Daily Sceptic.

offsite link If the Hallett Inquiry Says There Was No Alternative to Lockdown in Light of Neil Ferguson?s Apocaly... Fri Aug 12, 2022 16:30 | Nick Rendell
We were told there was no alternative to lockdown after Niel Ferguson warned of 200,000 deaths. But official UK inquiries into previous pandemics described modellers as 'court astrologers' and advised scepticism.
The post If the Hallett Inquiry Says There Was No Alternative to Lockdown in Light of Neil Ferguson?s Apocalyptic Modelling, We’ll Know it’s a Whitewash appeared first on The Daily Sceptic.

offsite link Karol Sikora: ?I Was Called a Killer For Warning of Lockdown Harms? Fri Aug 12, 2022 14:53 | Toby Young
Karol Sikora was accused of endangering people's lives by warning against turning the NHS into a Covid-only service during the lockdowns. Now, predictably, over 300,000 people are on NHS England's cancer waiting list.
The post Karol Sikora: ?I Was Called a Killer For Warning of Lockdown Harms? appeared first on The Daily Sceptic.

offsite link Ivan Katchanovski Responds to Ian Rons Fri Aug 12, 2022 11:09 | Noah Carl
Ukrainian-Canadian academic Ivan Katchanovski argues that the Maidan massacre was a false flag operation carried out by the Ukrainian far-right. Here he responds to a recent article criticising his work.
The post Ivan Katchanovski Responds to Ian Rons appeared first on The Daily Sceptic.

offsite link One in Three Vaccinated Teenagers Suffer Cardiovascular Side-Effects, One in 43 Suffer Heart Inflamm... Fri Aug 12, 2022 09:00 | Will Jones
A study has found cardiovascular adverse effects in around a third of teenagers following Pfizer vaccination and heart inflammation in one in 43, raising fresh concerns about the risks for young people.
The post One in Three Vaccinated Teenagers Suffer Cardiovascular Side-Effects, One in 43 Suffer Heart Inflammation ? Study appeared first on The Daily Sceptic.

Lockdown Skeptics >>

Voltaire Network
Voltaire, international edition

offsite link Voltairenet.org is taking a hiatus Thu Jul 14, 2022 20:47 | en

offsite link Paradoxes of Russophobia Thu Jul 14, 2022 12:46 | en

offsite link EU-Russia agreement on supplying Kaliningrad Thu Jul 14, 2022 12:26 | en

offsite link Political destabilization plagues the West Thu Jul 14, 2022 05:40 | en

offsite link Ukraine destroys its Nova Kakhovka factory Wed Jul 13, 2022 07:53 | en

Voltaire Network >>

Oops...remember what we said in our report...Y'know, that "fact" quoted by Ollie Rehn, Geitner and others as THE argument for austerity measures? erm...well... it was just an excel error. Sorry!

category international | anti-capitalism | other press author Saturday April 20, 2013 12:48author by fred Report this post to the editors

REINHART AND ROGOFF: " 'Full Stop,' We Made A Microsoft Excel Blunder In Our Debt Study, And It Makes A Difference." The oft quoted rationale for austerity measures by such people as Ollie Rehn and Tim Geitner turns out to be the result of an excel blunder by the authors


You know all these austerity measures that are cutting social safety nets for the less well off, letting sick people die who might otherwise have lived by underfunding our hospital services, eviscerating the local economy and destroying indigenous small business, and generally making the daily lives of the 99% really difficult? Well it turns out the theory behind the necessity for this approach was actually wrong because of a "careless" excel blunder. The authors of the famous study, ( Carmen Reinhart and Ken Rogoff) which claimed that "as countries see debt/GDP going above 90%, growth slows dramatically", have admitted they made a blatant excel error in coming to this conclusion and now

QUOTE:
"Josh Bivens, an economist with the Economic Policy Institute in Washington who co-wrote one of the first critiques of the Reinhart-Rogoff paper in 2010. He said he wasn’t surprised by the UMass result: “There’s never a sound theoretical reason why there should be a threshold” at which debt suddenly becomes a serious problem—90 percent in the Reinhart-Rogoff paper.

Bivens also said it’s quite possible that rather than debt causing slow growth, in many cases it’s the other way around: Countries that are growing slowly tend to rack up lots of government debt. He said Reinhart and Rogoff in some of their nonacademic writings have ignored that possibility and asserted—without justification—that high debt does indeed harm growth.

This isn’t an obscure academic debate. As Krugman points out, the Reinhart-Rogoff research is one of the two main threads in the pro-austerity argument, the other being Harvard’s Alberto Alesina on the macroeconomic effects of austerity. With so much at stake, the argument that caught fire in one afternoon is likely to keep burning for months."



LINKS: [more will be added as situation unfolds, most recent first]



businessweek - good faq on the error:
http://www.businessweek.com/articles/2013-04-18/faq-reinhart-rogoff-and-the-excel-error-that-changed-history
thinkprogress - "European Union Pledges To Curb Austerity":
http://thinkprogress.org/economy/2013/04/19/1894971/europe-united-states-austerity/



REFERENCED ARTICLES:

here:
http://www.businessweek.com/articles/2013-04-16/twitter...clash
and here:
http://www.businessinsider.com/reinhart-and-rogoff-admi...013-4


Reinhart and Rogoff, two poster children for austerity.
Now the centre of a major economic and political shitstorm!!

author by Tpublication date Wed Apr 24, 2013 23:45author address author phone Report this post to the editors

What is amazing is the paucity of proper analysis by so called economists if all they can come up with is basing austerity on this one single flawed paper. It just shows the depth of the stupidity but what it really shows is that all of this is a religious or ideological exercise because there is no science in their method and they simply use the first bit of flawed and shallow analysis that happens to be in tune with what they really wanted to do all along which is impose austerity. Make no mistake these people are quite aware of its effects and the true goal of the exercise and that is to transfer vast sums of money and assets from the ordinary people and public owned assets to tiny and extremely wealthy layer at the top who lord over us all through the control of the media, think tanks, international banks and mostly important the apparatus of the state in the form of the police, courts and army.

Why are people so stupid to play their game?

 
© 2001-2022 Independent Media Centre Ireland. Unless otherwise stated by the author, all content is free for non-commercial reuse, reprint, and rebroadcast, on the net and elsewhere. Opinions are those of the contributors and are not necessarily endorsed by Independent Media Centre Ireland. Disclaimer | Privacy