When
Playboy tied the Kochs to the Tea Party, McArdle
attacked the authors of the piece, Mark Ames and Yasha Levine. In her piece, McArdle
wrote:
“I don’t see any evidence offered that Koch money funds FreedomWorks, or any astroturfing organization … from what I know of [the Kochs], astroturfing doesn’t really seem like their style.”
Which is strange, given her long history with their organization. According to a post in Naked Capitalism, McArdle was trained for “journalism” by Charles Koch’s Institute for Humane Studies. The post goes on to state that McArdle paid them back by returning in 2011 as “a guest lecturer and instructor at the Institute for Humane Studies’ “Journalism & the Free Society” summer internship program,” with a program titled “Is an ‘objective’ press possible — or even desirable?”
...
Here is McArdle, in her role as “econoblogger,”
telling the public the upcoming Iraq War won't cost so much:
"Anyone who's sat through a budget meeting knows that almost everyone overestimates their successess, underestimates their costs; it's easier to go back for money later, when you can wave a nice hunk of sunk costs around, than say up front that you think whatever it is you're proposing will be expensive as hell. But trillions? US GDP is roughly $10 trillion. Alterman is saying that over the long run, this war is going to cost us at least 20% of GDP. That's nuts, and it's not the first time I've seen those sorts of numbers around. ... But making up ridiculous numbers in order to support your predisposition isn't helpful — and when the war doesn't cost us $2t, people are going to remember that the next time you talk about the costs of a program you don't like."
According to Reuters, the Iraq War cost the U.S. at least $2.3 trillion.
In 2007, McArdle made
this judgment of the housing market:
"I recently overheard someone bashing Alan Greenspan for not doing something about the subprime mortgage market. That something seemed a little fuzzy, but seemed to involve stopping banks from offering those dreadful, dreadful loans. ... This seems to be a fairly common sentiment, so I think it's worth pointing out that the latest data we have shows that the overwhelming majority of subprime loans are still in good standing. Subprime securities are taking a bath because defaults are higher than were expected, not because everyone who got one is in trouble. The 85% of homeowners with subprime loans who are currently making their payments might not agree that Alan Greenspan should have, in his ineffable wisdom, prevented them from getting loans. Nor, so far, is there much evidence that the subprime problems are causing much fuss in the broader financial markets. ... There is no perfect regulatory state that will allow us all to live in a serene economic paradise, and the sooner we stop looking for one, the more effective our regulatory state will actually be."
After she was called out, she added this update:
"In calmer consideration, that was too flip. But the financial holocaust that was widely feared has not come to pass, and is looking less likely to occur with each passing day."
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After the Iraq War had wounded, killed, and crippled somewhere between half a million to a million actual human beings, and invented ISIS, what did McArdle have to say about the invasion? Did she confess her own part in the tragedy she encouraged? Did she show humility? The worst thing to do, after all, would have been to write a self-satisfied, smug, nonchalant reply titled “I Wuz Wrong.” And that's exactly what she did. An adult human being, allegedly possessing the power of reason and human feeling,
wrote this:
I erroneously believed that I could interpret the actions of Saddam Hussein. He seemed to be acting like I'd act if I had WMD. Whoops! I wasn't an Iraqi dictator, which left huge gaps in my mental model of Hussein.
Will Menaker said reading this article meant witnessing a “glib shithead rationalize her own deep moral failure.”
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How seriously does McArdle take the plight of the poor? She
compared waiting in line for an iPhone to being a refugee:
"Early this morning, the Apple folks appeared with water for the needy liners. I imagine this is what it feels like to be a refugee—you sleep outside, and then smiling people in uniform hand you supplies whether you ask for them or not."