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Politics : Idea Of The Day

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To: IQBAL LATIF who wrote (44815)	10/17/2003 4:03:17 AM
From: IQBAL LATIF	Read Replies (1) of 50167

I never knew you could hear someone rolling his eyes over the telephone... Don Luskin has done major investigative work on Krugman's inappropriate use of the Lehman Damocles index: Next I called Lehman's UK-based Chief International Economist Russell Jones, the author of the report on Damocles. He'd seen Krugman's column -- I could hear the sound of his eyes rolling all the way from London. He told me "Krugman can be somewhat twisted and bitter on occasion. This analytic tool was not intended to be applied to developed countries. Damocles gave him an in to write a piece he wanted to write. He's making a career out of this kind of thing." Strong words from Jones, who told me at the same time that Krugman is not wrong, in principle, to be concerned about the US's "rapid accumulation of debt," and that indeed the US scores poorly by Damocles' standards. But he firmly admonished, "to apply this to the US is not that relevant." A tip of the EconoPundit hat to Luskin for this investigation and for obtaining the Lehman Damocles documents. And, as well, we thank him for sharing these. Link posted by Steve Antler : 8:10 AM

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