Previous month:
June 26, 2024
Next month:
June 28, 2024

MORE ECONOMICS BULLSHIT FROM 17 ECONOMIST BULLSHITTERS

Wow! Just like the 51 former intelligence officials Antony Blinken recruited to sign a letter falsely casting doubt on the provenance of Hunter Biden’s laptop before a presidential debate, 17 economists have signed a letter supporting Biden’s progressive communist democrat economic agenda before a presidential debate.

First, Other than Thomas Sowell, Walter Williams, and a few others, I have very little respect for economists because they are primarily self-important buffoons like Paul Krugman, whose nonsensical screeds appear in the New York Times. Even Nobel Laureate Friedrich von Hayek chided the profession in his Nobel Prize Lecture, “The Pretense of Knowledge.”

“It seems to me that this failure of the economists to guide policy more successfully is closely connected with their propensity to imitate as closely as possible the procedures of the brilliantly successful physical sciences – an attempt which in our field may lead to outright error. It is an approach which has come to be described as the “scientistic” attitude – an attitude which, as I defined it some thirty years ago, “is decidedly unscientific in the true sense of the word, since it involves a mechanical and uncritical application of habits of thought to fields different from those in which they have been formed.”1 I want today to begin by explaining how some of the gravest errors of recent economic policy are a direct consequence of this scientistic error.”

Second, it reminds me of an old economics joke. Three distinguished economists were deer hunting when they saw a magnificent buck about 100 yards from their position. The economist on the right and the economist on the left fired simultaneously, with the one on the left falling short ten yards and the one on the right overshooting by ten yards. The economist in the middle erupted with joy and started celebrating. His fellow economists were bewildered and questioned his sanity since they both missed. He responded, “Don’t you see? On average, we bagged that sucker.

Letter from seventeen deaf, dumb, and blind schmucks who do not seem to know what is happening to ordinary people…

Open letter from Nobel Laureates in support of economic recovery agenda

The American economy appears set for a robust recovery in part due to active government interventions over the past year and a half, including President Biden’s American Rescue Plan. But, reversing years of disinvestment in public goods and addressing the country’s long-term needs—including building toward sustainable and inclusive growth and facilitating our clean energy transition—will require more.

[OCS: This is a lie. Our economy is going downhill fast, crippled by stagflation, profligate government spending, burdensome taxes, overreaching regulations, and the deliberate destruction of the fossil fuel sector.]

Success in the 21st century will require building upon the bi-partisan infrastructure deal that has passed the Senate, which prioritizes investments in our nation’s “hard” infrastructure. The President’s Build Back Better agenda employs a broader conception of infrastructure by making critical investments in human capital, the care economy, research and development, public education, and more, which will reduce families’ costs.

[OCS: The progressive communist democrats have redefined infrastructure to include massive spending on illegal aliens and social welfare programs—pouring billions of dollars into non-governmental organizations that provide voter support for progressive communist democrat policies.]

While we all have different views on the particulars of various economic policies, we believe that key components of this broader agenda are critical—including tax reforms that make our tax system more equitable and that enable our system to raise the additional funds required to facilitate necessary public investments and achieve our collective goals. Because this agenda invests in long-term economic capacity and will enhance the ability of more Americans to participate productively in the economy, it will ease longer-term inflationary pressures.

[OCS: Communism in progress—supported by useful idiots in academic institutions funded by massive government grants.]

Signed by 17 recipients of the Nobel Memorial Prize in Economic Sciences:

  • George A. Akerlof, Professor, Georgetown University
  • Sir Angus Deaton, Professor, Princeton University
  • Peter Diamond, Professor, Massachusetts Institute of Technology
  • Robert Engle, Professor Emeritus and Co-Director of the Volatility and Risk Institute, New York University
  • Oliver Hart, Professor, Harvard University
  • Daniel Kahneman, Professor, Princeton University
  • Eric S. Maskin, Professor, Harvard University
  • Daniel McFadden, Professor, University of California, Berkley
  • Paul Milgrom, Professor, Stanford University
  • Roger Myerson, Professor, University of Chicago
  • Edmund S. Phelps, Professor and Director of the Center on Capitalism and Society, Columbia University
  • Paul Romer, Professor, New York University
  • William Sharpe, Professor Emeritus, Stanford University
  • Robert Shiller, Professor, Yale University
  • Christopher Sims, Professor, Princeton University
  • Robert Solow, Professor Emeritus, Massachusetts Institute of Technology
  • Joseph Stiglitz, Professor, Columbia University

<Source>

The progressive communist democrat's economic theory of everything…

Democrat-formula-display

Bottom line…

This is pure propaganda from useful pointy-head idiots in prestigious progressive educational institutions—a clear sign of communist infiltration of higher education.

We are so screwed.

-- Steve


“Nullius in verba”-- take nobody's word for it!
"Acta non verba" -- actions not words

“Beware of false knowledge; it is more dangerous than ignorance.”-- George Bernard Shaw

“Progressive, liberal, Socialist, Marxist, Democratic Socialist -- they are all COMMUNISTS.”

“The key to fighting the craziness of the progressives is to hold them responsible for their actions, not their intentions.” – OCS

"The object in life is not to be on the side of the majority, but to escape finding oneself in the ranks of the insane." -- Marcus Aurelius

“A people that elect corrupt politicians, imposters, thieves, and traitors are not victims... but accomplices” -- George Orwell

“Fere libenter homines id quod volunt credunt." (The people gladly believe what they wish to.) ~Julius Caesar

“Describing the problem is quite different from knowing the solution. Except in politics." ~ OCS