Wednesday, November 16, 2011

In Case You Didn't Know: FLG Is A Fucking Genius

His time horizons theory plays out again.

Stimulus would have "a net negative effect on the growth of GDP over 10 years."

Interestingly, although it's not entirely clear, but FLG believes Elmendorf was initially trying to argue that it wasn't the level but the rate of growth, .i.e first derivative, in ten years that would be more negative than it otherwise would've been without the stimulus, but eventually restated and clarified that it was the level.

BTW, is there anybody willing to read The Corner so that FLG doesn't have to? Kathryn Jean Lopez kindles an almost uncontrollable urge for autodefenstration in FLG's id.

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