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On the Guardian’s coverage of economics: Heidi Moore really doesn’t understand the subject

really doesn't understand the subject

OR, if I’m to be entirely fair, on the new US Guardian’s coverage of economics. They’ve hired some bird called Heidi Moore from one of the public radio programmes to be their US finance and economics editor. And today she said this:

For one, it will be harder for us to know when we’re in a recession. Right now, a recession means several quarters of negative GDP. Getting to negative from where we are now isn’t hard; getting there when we’re 3% higher will be. While it may seem useful to avoid recession right now, that is actually a bad thing: it means that in periods when we do get negative GDP, we’ll be in truly terrible shape.

Oh my word……

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Posted: 25th, April 2013 | In: Money | Comments (3)