Fake prominent Portuguese economist, who claimed austerity was bad for the bailed-out country's economy, unmasked

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    Jan 29, 2013 7:39 PM GMT
    http://www.guardian.co.uk/business/2013/jan/21/eurozone-crisis-live-finance-chiefs-vote-new-leader#block-50fd262fb579240893bf53a6

    Artur Baptista da Silva had become one of the most authoritative voices on Portuguese television, using his experience as an economist and United Nations consultant to explain why so much austerity was bad for the bailed-out country's economy.

    But now it turns out that the 61-year-old economist who explained so seriously – and clearly – the damage being inflicted on the country by the austerity measures demanded by the troika of lenders (EU, IMF and ECB) was a conman with at least two jail terms behind him.

    The fake economist earnestly debated with journalists and other experts on television shows, claiming that the European Union has become a farce.

    Baptista da Silva became so popular that he was invited to talk to the socialist party's summer school and some of the country's most prestigious debating societies. He claimed to have been a professor at a now defunct US university and to have worked with the World Bank.

    “He said what people wanted to hear,” explained Antonio Costa, editor of the Diario Economico newspaper. That may explain why fans have now launched Facebook groups supporting him, including one called "I worked at the United Nations with Baptista da Silva."
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    Jan 29, 2013 8:27 PM GMT
    It's like saying because Bart Simpson believed global warming, then global warming must be false. Sometimes the fool hits the nail on the head.

    Meanwhile, back to the real world:

    http://www.guardian.co.uk/politics/2013/jan/26/goldman-sachs-criticism-george-osborne-austerity?intcmp=239George Osborne should recognise that his deficit-reduction programme is failing and change economic policy to avoid a triple-dip recession, a senior investment banker has warned.

    Jim O'Neill, the chairman of Goldman Sachs Asset Management, said the chancellor's continued pursuit of austerity despite signs that the economy was stagnating, including worse-than-expected GDP figures, risked a lost decade for the British economy with low growth and increasing public debt.

    Figures unveiled on Friday showed that the British economy shrank in the last quarter of 2012. If the economy shrinks again in the first quarter of 2012, Britain will be in recession for the third time since the economic crash of 2008.
  • conservativej...

    Posts: 2465

    Jan 29, 2013 9:22 PM GMT
    Ah, another one of those Liberal/Socialist Flim Flam men exposed.
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    Jan 29, 2013 9:27 PM GMT
    q1w2e3 saidIt's like saying because Bart Simpson believed global warming, then global warming must be false. Sometimes the fool hits the nail on the head.

    Meanwhile, back to the real world:

    http://www.guardian.co.uk/politics/2013/jan/26/goldman-sachs-criticism-george-osborne-austerity?intcmp=239George Osborne should recognise that his deficit-reduction programme is failing and change economic policy to avoid a triple-dip recession, a senior investment banker has warned.

    Jim O'Neill, the chairman of Goldman Sachs Asset Management, said the chancellor's continued pursuit of austerity despite signs that the economy was stagnating, including worse-than-expected GDP figures, risked a lost decade for the British economy with low growth and increasing public debt.

    Figures unveiled on Friday showed that the British economy shrank in the last quarter of 2012. If the economy shrinks again in the first quarter of 2012, Britain will be in recession for the third time since the economic crash of 2008.


    I'm not saying what he is saying is necessarily false - but it should be in the very least a warning to consider more closely the validity of what he was saying. Goldman Sachs has long advocated deficit spending and even facilitated it through instruments that have had catastrophic consequences for public entities.

    Spending restraint even in the UK seems to have been marginal - but what those who advocate against fiscal restraint like yourself seem to ignore the fact that the benefits of deficit spending have consistently been far less than promised, with an ongoing cost in future interest payment and higher risk by taking on more debt.
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    Jan 30, 2013 2:28 AM GMT
    riddler78 said
    q1w2e3 saidIt's like saying because Bart Simpson believed global warming, then global warming must be false. Sometimes the fool hits the nail on the head.

    Meanwhile, back to the real world:

    http://www.guardian.co.uk/politics/2013/jan/26/goldman-sachs-criticism-george-osborne-austerity?intcmp=239George Osborne should recognise that his deficit-reduction programme is failing and change economic policy to avoid a triple-dip recession, a senior investment banker has warned.

    Jim O'Neill, the chairman of Goldman Sachs Asset Management, said the chancellor's continued pursuit of austerity despite signs that the economy was stagnating, including worse-than-expected GDP figures, risked a lost decade for the British economy with low growth and increasing public debt.

    Figures unveiled on Friday showed that the British economy shrank in the last quarter of 2012. If the economy shrinks again in the first quarter of 2012, Britain will be in recession for the third time since the economic crash of 2008.


    I'm not saying what he is saying is necessarily false - but it should be in the very least a warning to consider more closely the validity of what he was saying. Goldman Sachs has long advocated deficit spending and even facilitated it through instruments that have had catastrophic consequences for public entities.

    Spending restraint even in the UK seems to have been marginal - but what those who advocate against fiscal restraint like yourself seem to ignore the fact that the benefits of deficit spending have consistently been far less than promised, with an ongoing cost in future interest payment and higher risk by taking on more debt.


    As opposed to us considering more closely the pronoucements of the Very Serious People:

    http://krugman.blogs.nytimes.com/2013/01/28/failures/Meanwhile, you know what has actually failed? Ryan’s Paulite/Randite monetary economics. You may recall that two years ago Ryan led the charge of Republicans demanding that Ben Bernanke stop his expansionary policies, issuing dire warnings about rising interest rates and soaring inflation. What actually happened:
    012813krugman1-blog480.png
    So, how have Ryan and those of like mind reacted to the spectacular failure of their doctrine in practice? As far as I can tell, they haven’t even acknowledged that they have a problem.
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    Jan 30, 2013 3:03 AM GMT
    q1w2e3 said
    riddler78 said
    q1w2e3 saidIt's like saying because Bart Simpson believed global warming, then global warming must be false. Sometimes the fool hits the nail on the head.

    Meanwhile, back to the real world:

    http://www.guardian.co.uk/politics/2013/jan/26/goldman-sachs-criticism-george-osborne-austerity?intcmp=239George Osborne should recognise that his deficit-reduction programme is failing and change economic policy to avoid a triple-dip recession, a senior investment banker has warned.

    Jim O'Neill, the chairman of Goldman Sachs Asset Management, said the chancellor's continued pursuit of austerity despite signs that the economy was stagnating, including worse-than-expected GDP figures, risked a lost decade for the British economy with low growth and increasing public debt.

    Figures unveiled on Friday showed that the British economy shrank in the last quarter of 2012. If the economy shrinks again in the first quarter of 2012, Britain will be in recession for the third time since the economic crash of 2008.


    I'm not saying what he is saying is necessarily false - but it should be in the very least a warning to consider more closely the validity of what he was saying. Goldman Sachs has long advocated deficit spending and even facilitated it through instruments that have had catastrophic consequences for public entities.

    Spending restraint even in the UK seems to have been marginal - but what those who advocate against fiscal restraint like yourself seem to ignore the fact that the benefits of deficit spending have consistently been far less than promised, with an ongoing cost in future interest payment and higher risk by taking on more debt.


    As opposed to us considering more closely the pronoucements of the Very Serious People:

    http://krugman.blogs.nytimes.com/2013/01/28/failures/Meanwhile, you know what has actually failed? Ryan’s Paulite/Randite monetary economics. You may recall that two years ago Ryan led the charge of Republicans demanding that Ben Bernanke stop his expansionary policies, issuing dire warnings about rising interest rates and soaring inflation. What actually happened:
    012813krugman1-blog480.png
    So, how have Ryan and those of like mind reacted to the spectacular failure of their doctrine in practice? As far as I can tell, they haven’t even acknowledged that they have a problem.


    Heh you consider Krugman (outside his academic research), former Enron consultant, a serious person? Nevermind the fact that prices have been rising dramatically in food and energy in the US but curiously that's omitted in his "analysis".
    e.g. what he said about social security:
    http://www.economist.com/blogs/freeexchange/2013/01/pensions?fsrc=rss

    or his curiously changing views dependent more on party than ideas:
    http://gregmankiw.blogspot.ca/2012/12/a-krugman-puzzler.html

    or his ignorance of the countries he thinks the US should emulate?
    http://douthat.blogs.nytimes.com/2012/11/21/can-we-be-sweden/#more-18048

    Try again buddy icon_wink.gif
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    Jan 30, 2013 3:19 AM GMT
    VSP=people like Ryan who obsess about the deficit and inflation, and yet hasn't really panned out and haven't acknowledged their failure to explain how reality hasn't fit their theory.

    As opposed to the fake prominent Portuguese con men who hit on the truth.

    And Krugman does admit that he is sometimes wrong:

    http://www.forbes.com/sites/modeledbehavior/2012/12/24/krugman-vs-mankiw-on-interest-rates/

    Tell me that Ron Paul or Alan Simpson have acknowledged that hyperinflation has not happened.

    http://www.nytimes.com/2012/12/24/opinion/krugman-when-prophecy-fails.html?_r=0
  • conservativej...

    Posts: 2465

    Jan 30, 2013 11:46 AM GMT
    q1w2e3 saidVSP=people like Ryan who obsess about the deficit and inflation, and yet hasn't really panned out and haven't acknowledged their failure to explain how reality hasn't fit their theory.

    As opposed to the fake prominent Portuguese con men who hit on the truth.

    And Krugman does admit that he is sometimes wrong:

    http://www.forbes.com/sites/modeledbehavior/2012/12/24/krugman-vs-mankiw-on-interest-rates/

    Tell me that Ron Paul or Alan Simpson have acknowledged that hyperinflation has not happened.

    http://www.nytimes.com/2012/12/24/opinion/krugman-when-prophecy-fails.html?_r=0


    Life with a PIGS view. (Lol.) Wonderful.
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    Jan 30, 2013 12:48 PM GMT
    q1w2e3 saidVSP=people like Ryan who obsess about the deficit and inflation, and yet hasn't really panned out and haven't acknowledged their failure to explain how reality hasn't fit their theory.

    As opposed to the fake prominent Portuguese con men who hit on the truth.

    And Krugman does admit that he is sometimes wrong:

    http://www.forbes.com/sites/modeledbehavior/2012/12/24/krugman-vs-mankiw-on-interest-rates/

    Tell me that Ron Paul or Alan Simpson have acknowledged that hyperinflation has not happened.

    http://www.nytimes.com/2012/12/24/opinion/krugman-when-prophecy-fails.html?_r=0


    Hit on the truth? Heh - and Ryan is wrong on this issue - really? Have you gone grocery shopping lately? Or looked at energy prices lately? Things that are specifically excluded from the CPI? There's an even better indicator with the US dollar that's dramatically declined versus other currencies like the CAD.

    And as for Krugman sometimes barely admitting he is wrong - sorry, he'd have to have a reprint of most of his columns weekly - there's a lot more where those links came from on how often he gets it wrong on his partisan opinion columns.