Assorted links

1. The maturity structure of publicy-held debt (scary, like a teaser-rate mortgage).

2. How big a stimulus did we need?

3. Waltz with Bashir and now Lebanon are two of my favorite movies over the last five years.

4. Garett Jones on Twitter: "Cities are popular. Cities are population sinks. Thus cities are able to circumvent ev psych urges. How?"

Comments

Who will bail out the 'bail outers'?

Millian got it. In ev bio terms, cities spoof our instincts by creating the signals of fitness (wealth, status, opportunities) without actually producing the substance of fitness.

That being said, it doesn't have to be that way. Iceland is a growing nation despite 66% of its population living in Reykjavík and low immigration. Pro-reproduction policies, institutions and cultural norms can (and are necessary to) overcome the difficulty cities have with supporting families.

Waltz with Bashir is one of the best war movies, period. I've never met a veteran (of any nationality) who couldn't identify with the film. I think it myopically is billed as an israeli film, or a middle eastern conflict film which limits it's draw. I think a re-marketing as a "hurt locker" type appeal would make it a household name.

Can Megan actually name somewhat who advocated enough stimulus to immediately return the US to full employment?

Talk about a strawman.

"let's take the CBO's estimates as representing a rough consensus of those who favor stimulus"

The best sign that you're about to be served a plate of Unicorn Meat with a side of Rainbow Delusions is when McMegan starts her trip through Wonderland by casting the wonky nonpartisan CBO as a proxy for The Left.

"Why shouldn't she?"

Because it's disingenuous to say "representing a rough consensus of those who favor stimulus" when you what you mean is "representing the rough nonpartisan consensus that favors stimulus".

Shorter McMegan: a smaller stimulus than needed to restore full employment would not have restored full employment. ("{We needed $2+ trillion}... if we'd gotten 1.3 trillion. ... economy would still be underperforming")

Can Megan actually name somewhat who advocated enough stimulus to immediately return the US to full employment?

Talk about a strawman.

Umm... Paul Krugman, according to Paul Krugman, as quoted at the very beginning of Megan's post?

If that's not good enough, here's another quote from Krugman "It was also clear, at least to me, that the stimulus should, in fact, be aggressive — enough to achieve something close to full employment."

http://krugman.blogs.nytimes.com/2009/07/18/summers-at-iie/

You'll find it there and http://krugman.blogs.nytimes.com/2008/12/29/optimal-fiscal-policy-in-a-liquidity-trap-ultra-wonkish/ where he states that "But here’s what the model says: when monetary policy is up against the zero bound, the optimal fiscal policy is to expand government purchases enough to maintain full employment. "

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