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Originally Posted by Archaea
Macro-economics is bullshit. You don't control or account for enough variables to ever get it right.
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hahaaha! this is the best thing you've said the entire thread. you're almost right, cross-country regressions have their weaknesses. but asymmetric information is a micro issue, and macro is still 900% more valid than your theological, process philosophy, textual criticism garbage.
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But you have failed to address the consequences of a high level of government employment in non-productive job sectors, the high concentration of the GNP on non-discretionary spending, and whether having a trade deficit is good or bad.
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what does the virtue of trade deficits have to do with Obama again?