Saturday, March 7, 2009

current stimulus plan "insufficient to deal with the crisis"

You think?

The WaPo is finally on the case. Better late than never, I guess, but still weirdly missing all the main points: Unemployment Tests Response
As jobless numbers rise, analysts warn current stimulus plan is insufficient to deal with crisis.

Here's the dumbest sentence in the article:

Economists are now calling into question whether the intricate suite of policies crafted by Congress, the Obama administration and the Federal Reserve are bold enough to deal with the scope of the economic damage.

Yo! WaPo! Please already. Get a grip here.

Let's parse that sentence:
  1. "Economists are now" - NOT 'now'. Smart ones have been questioning for 16+ months. See Roubini, Shiller, Wolf, Steiglitz et al
  2. "intricate suite of policies' - What?? Makes the response seem planned, coordinated and reasoned when it's in fact just the opposite - ad hoc, disjointed, panicked...
  3. 'bold enough' - what's 'bold' here, exactly?
  4. 'the scope of the economic damage' - Aha! Now there's a story an enterprising reporter just might want to chase down. Just not those at the WaPo, alas

To quote Prof. DeLong " why oh why can we not have a better press corp?"

1 comment:

  1. And the press corps had just given you such a nice mention, too. Vanity, thine is a fickle love! Or something.

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