Stephen Colbert interviews graduate student Thomas Herndon who discovered in writing a paper for his professor that the spreed sheets used to justify the benefits of austerity measures contain faulty numbers, plus, the much-cited Growth in a Time of Debt by Rogoff and Reinhart completely leaves out the improved economies of Australia and others in order to further support their faulty conclusions that austerity is beneficial.
As noted on this blog previously, austerity cuts are a huge mistake, the kind of 'mistake' people make in order to force their selfish ideology on to those who didn't cause the engineered crises that are allegedly being cured, and to grab more of the world's resources for themselves. "Austerity is counter productive," says Mr. Herndon, and the suffering caused in countries with austerity-implementing governments is now laid plainly at the hooves of such politicians--including those obstructionist Ayn Rand-ers of Washington DC.
Why? To crash the global economy to the point where populations plead for any system to be set up--even a devilish 'new world order'!