Be vewy vewy quiet â€¦ I'm hunting trolls
Some charmer left a mess in the comments section of my piece debunking the economic triumphalism that gets crammed down our throats every day.
Because it represents such a perfect exemplar of right-wing argumentation, I thought I'd shred it here. It's from owlsliveintrees:
I'll take a shot at this idiocy
Well, apparently the point of this article is that household net worth is going up but savings is going down.OK, he can't get through even one accurate sentence. Do you notice how fond our opponents are of the straw-man? He sets it up right there. The discussion of housing prices was tangential.
If you were to "take a shot" at the "idiocy" of the actual piece with any intellectual honesty, you'd have to take on the real point: less of the growth in the current business cycle is finding it's way into wages than in any business cycle anyone can remember, and therefore the "good news" is for quite a narrow slice of the American population.
He doesn't touch that because he has no response to the strongest data in the piece: GDP's been rising at a strong clip and median household income - right smack in the middle of the American pie - has fallen for five years in a row.
On that point, he's utterly mute.