- PHILIPPINES /USA : Stranded US Naval Warship Finally Dismantled.
- SERBIA / LIBYA : Are Serbian Mercenary Pilots Bombing Protestors In Tripoli?
- COLOMBIA : 30 May UPDATE: Premiere Of Narco Pablo Escobar Telenovela...Sets Viewer Record.
- RUSSIA : Aeroflot Fires Attendant...For Posting Middle Finger Salute Foto.
- PERU: Sand Fly Bite...Morphs Into Horror Story For American.
- GUATEMALA : Gen. Rios Montt Faces Another Massacre Trial.
- ITALY : Ruby Heartstealer Testifies About Bunga Bunga Parties at Milano Trial.
- BRASIL: Footballer De Souza's Model Mistress Murder Trial Begins.
- MUSIC FOR MONDAY: From SWEDEN / AZERBAIJAN : Eurovision Winner Loreen Sings "Euphoria."
- VENEZUELA :6 March UPDATE: Shooting At Caracas Opposition Rally Wounds Capriles Supporter.
17 April 2013
USA / EU/ MACRO ECONOMICS / ACADEMICS: 18 April UPDATE: Rogoff/Reinhart Admit Major Error In 2010 Paper; Doctoral Student Herndon Uncovered Errors.
For the macroeconomics wonks, geeks and nerds out there...here's an interesting but somewhat technical news item.
Harvard economists Kenneth Rogoff (above) and Carmen Reinhart admitted making mistakes in a 2010 paper...'Growth in a time of Debt'...that strongly argued for fiscal cutbacks.
The paper was widely cited by USA Tea Party conservatives...and EU austerity advocates.
The 2 authors admit they left some critical date out of their calculations.
The error was uncovered by 3 economists at UMass/Amherst.
Despite the errors...Rogoff and Reinhart still defend the paper's central message.
FOR MORE DETAILS On: Thomas Herndon...the econ doctoral student who spotted the paper's glaring errors.