Grasping Reality on TypePad, by Brad DeLong

Menzie Chinn continues what can only be accurately characterized as a battle of wits with an unarmed man.[1]

Thanks very much for picking this up, Menzie. It's greatly appreciated.

[1] UPDATE: And, indeed, U.S. Treasury staff report that Richard Posner's claim that the $40 billion number they gave Christy Romer is some sort of accrual number is simply false. It is a cash flow number.