Thursday, 4 December 2014


The term “macromedia” is a recent addition to the English language, and I like it. It refers to the nonsense, bullshit, clap-trap, rubbish, etc that we get from respectable news outlets on economics in general, but particularly on the subject of the national debt and deficit. At least, I’m fairly sure that’s what’s meant by the word.
And rest assured that that 90% of what you read in so called “quality” newspapers about the deficit is nonsense.
This new word is used for example by Chris Dillow here, and by Simon Wren-Lewis here.  

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