Zero Hedge wrong again
I know this is a “sky is blue” kind of post, but this post is simply delusional, and proves itself wrong. It’s worthy of notice because its own charts proves its point wrong. When the stimulus was being debated, the top unemployment rate was expected to be 9%.
As Zerohedge’s own chart shows, the unemployment rate was almost higher than 9% by the time Obama took office. In other words, the initial baseline projection should have been at least – at least – a full two points higher. I am not sure how to argue with such a lack of logic, so I’ll just mock it. Ha! Yer dumb, Zerohedge! You can’t even read your own charts! I wouldn’t let you within 10 yards of a trading desk, because you can’t read simple graphs! Yer dumb!
Update: This old post from some crazy guy named “mickslam” says that the stimulus needed to be $1T to $1.6T. He then said that the proposed stimulus was far too small. He said this about 2-3 weeks before the estimable Prof. Krugman.