Another Bad Employment Report
links for 2009-11-07

Abjuration and Recantation...

Hoisted from Comments: "a" writes:

Another Bad Employment Report - J. Bradford DeLong's Grasping Reality with All Eight Tentacles: "If we find ourselves in a financial-meltdown world where unemployment or inflation kisses 10%--then I will unhappily concede, and say that Greenspanism was a mistake." - BDL, 16 July 2008

So, it was a mistake, right?

Yes, it was a mistake. I hereby deny, abjure, and repent my previous allegiance to the gospel of "Greenspanism." I reject Greenspan, and all his works, and all his empty promises.

I will strive now to walk in the light.

Curiously enough, this from my pre-Greenspanist phase actually looks pretty damn smart today...

J. Bradford DeLong (1999), "Should We Fear Deflation?" Brookings Papers on Economic Activity 1999:1 (Spring), pp. 225-252