Present Value is a Leftist Plot
Frankly, I’m not sure how wonkish the debate about this article is, but it’s both hilarious and disturbing. The fact that our press, the people who are supposed to keep us safe from abuse, can’t even understand first-year concepts makes me fear for the future. This from a source that isn’t supposed to be biased and claims some knowledge of the subject (Business and Economics Editor). From the mainstream source of The Letter from Birmingham Jail.
And the best part is that she continues to be wrong in the comments of this story. Very, very wrong. Treating savings like it only counts if you have a passbook, not as an economic concept that can be positive or negative… that’s what the average person on the street would do, but it’s no way to lead a technical debate.