tag:blogger.com,1999:blog-8497093028548856666.post8685202361589561703..comments2024-03-22T11:14:05.861-04:00Comments on UncleBob's Treehouse: Most Economists Don’t Know What They’re Talking AboutAnonymoushttp://www.blogger.com/profile/16046202647270439670noreply@blogger.comBlogger14125tag:blogger.com,1999:blog-8497093028548856666.post-87312441724812870872016-10-04T10:01:09.484-04:002016-10-04T10:01:09.484-04:00http://www.newyorker.com/news/news-desk/donald-tru...http://www.newyorker.com/news/news-desk/donald-trumps-immigrant-mother<br /><br />Why do you think he's so cheap? ;)Scotsmannoreply@blogger.comtag:blogger.com,1999:blog-8497093028548856666.post-79980389245455805652016-10-03T15:00:06.413-04:002016-10-03T15:00:06.413-04:00I thought she said he was German/Swedish. I prefer...I thought she said he was German/Swedish. I prefer Scottish myself. My last name, you know.Anonymoushttps://www.blogger.com/profile/16046202647270439670noreply@blogger.comtag:blogger.com,1999:blog-8497093028548856666.post-67939143392514502022016-10-03T12:38:00.807-04:002016-10-03T12:38:00.807-04:00Come on Bob!! Trump is German/Scottish. Come on Bob!! Trump is German/Scottish. Scotsmannoreply@blogger.comtag:blogger.com,1999:blog-8497093028548856666.post-11910434823112586562016-10-03T10:15:16.100-04:002016-10-03T10:15:16.100-04:00The only kind of genuine "free money" is...The only kind of genuine "free money" is money that is valueless and isn't wanted by anyone. A perfect example is the money printed by The Confederate States of America after they were defeated by the US Federal Government.<br />(Ironically, that same Confederate money is now in high demand by collectors, and is actually worth something.)Take The Red Pillnoreply@blogger.comtag:blogger.com,1999:blog-8497093028548856666.post-54439449753650293452016-10-02T22:24:01.100-04:002016-10-02T22:24:01.100-04:00The first rule of economics should be as follows
...The first rule of economics should be as follows<br /><br /><br />"Economics does not exist in a vaccum"Anonhttps://www.blogger.com/profile/00994177640583119829noreply@blogger.comtag:blogger.com,1999:blog-8497093028548856666.post-43911126277604392642016-10-02T08:55:02.232-04:002016-10-02T08:55:02.232-04:00Micro economics is useful because it seeks to desc...Micro economics is useful because it seeks to describe reality. Macro-economics isn't useful because it seeks to make reality conform to the desires of economists in order to achieve some utopia. Macro-economics is all pretend. It's nothing but a construct pretending to manage the transactions described in micro-economics by measuring parameters that can't be measured and in many cases don't actually exist. It's an utter scam.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8497093028548856666.post-85035878618645866142016-10-02T01:03:13.349-04:002016-10-02T01:03:13.349-04:00The only economist I read anymore is Aaron Clarey....The only economist I read anymore is Aaron Clarey.Robert What?https://www.blogger.com/profile/03863449539859132763noreply@blogger.comtag:blogger.com,1999:blog-8497093028548856666.post-15398855247385504042016-10-02T00:46:36.759-04:002016-10-02T00:46:36.759-04:00Like most "experts", the job of the mode...Like most "experts", the job of the modern economist is to take a simple subject and make it sound as complicated as possible, that way you have to hire them permanently to explain things to you. It's a jobs project, nothing more.Eduardo the Magnificentnoreply@blogger.comtag:blogger.com,1999:blog-8497093028548856666.post-79779029462741927622016-10-01T19:15:49.920-04:002016-10-01T19:15:49.920-04:00Economics is the sociology of Accounting. Its who...Economics is the sociology of Accounting. Its who-whom and the Mathematics is just smoke and mirrors to hide the hands behind the curtain. The Central Bank is just Zardoz, a false god who promotes wars and arms warlords to enrich itself. As General Smedley Butler said,"All Wars are Banker Wars." <br />Macroeconomics is Voodoo Economics. All transactions happen between parties. Irregardless of how many parties or middlemen are involved it has no inherent structure beyond the transaction. Their is no Economic System. All wages are economies of scale, and all trade is paid off either with value or labor. Trade imbalances are settled either with debts or job losses irregardless of what the Wizards of Wall Street say.<br />The Gold Standard is a red herring. Money does not need coinage with intrinsic value. Our problems come not from not having a backing of Gold or Silver, but due to the bad faith of bankers issuing debt instead of currency. The Federal Government can never balance the budget with the US Dollar in the hands of a Cabal of Hidden Oligarchs. This den of thieves has looted our wealth, corrupted our culture and means to pollute our gene pool. They must be rid of, sooner rather than later. Anonymoushttps://www.blogger.com/profile/10330477950146402313noreply@blogger.comtag:blogger.com,1999:blog-8497093028548856666.post-9948649758089594282016-10-01T16:08:02.798-04:002016-10-01T16:08:02.798-04:00I took Economics in college -- total nonsense, a l...I took Economics in college -- total nonsense, a little like Law, in which people create an entire language and sub-culture around their pet theories, then ride them to 'careers'. Most real-life economics follow a few simple principles, not higher math. Higher math in economics is just another obfuscation to pet the pride and pocketbooks of 'economists'. People want to be Experts, and they want to be paid and preened for being Experts, except in Economics (as elsewhere) the Experts add NOTHING to the understanding or value of the system. They'd be better utilized as celery-pickers in the fields, at least that would contribute something tangibly constructive, instead of more double-talk, World Conferences, and related bullshit.<br /><br />Modern people believe in this Economics mumbo-jumbo, lol. It's just another false-priestcraft of PhD. cognoscenti, that The People will believe these folks actually know what's going on, are in control, etc. But of course they don't know what's going on, and aren't in control. Might as well get paid for that while you're doing it!little dynamohttps://www.blogger.com/profile/11380746207592226835noreply@blogger.comtag:blogger.com,1999:blog-8497093028548856666.post-8586357122867152492016-10-01T13:40:11.780-04:002016-10-01T13:40:11.780-04:00@Bob, check out these websites:
https://mythfight...@Bob, check out these websites:<br /><br />https://mythfighter.com<br /><br />(Rodger Malcolm Mitchell wants open borders and wants to give everybody free money - What could possibly go wrong? He is a Jew by the way. He actually wrote a book titled: Free Money, Plan for Prosperity.)<br /><br />On Modern Monetary Theory (MMT):<br /><br />http://mikenormaneconomics.blogspot.com<br /><br />Warren Mosler's website:<br /><br />http://moslereconomics.com<br /><br />http://moslereconomics.com/2009/12/10/7-deadly-innocent-frauds/<br />Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8497093028548856666.post-16568506019384849132016-10-01T12:23:19.036-04:002016-10-01T12:23:19.036-04:00The only thing Krugman ever got right was when he ...The only thing Krugman ever got right was when he said in the mid 90's that the economic growth in South East Asia was due to increased utilization of human labor and natural resourses and not due to improved human capital, unlike the other East Asian economies (Japan, Taiwan, etc.) and that it would soon stop. <br /><br />In other words, Paul Krugman discovered HBD! Malay people do not have the same capabilities as the Chinese! What a discovery!<br /><br />Paul Krugman has been wrong about everything else.kurt9https://www.blogger.com/profile/02101147267959016924noreply@blogger.comtag:blogger.com,1999:blog-8497093028548856666.post-7794872478419024522016-10-01T12:18:03.391-04:002016-10-01T12:18:03.391-04:00I've taken economics classes. Economics, parti...I've taken economics classes. Economics, particularly macro-economics, is little more than criminal sophistry. Micro-economics has some validity because it is firm-based. How do you make a profit doing whatever activity you are doing. The rest of it is garbage.<br /><br />This is doubly true for "strategic management consulting". I took a class in this gettimg my MBA in 1990 and came to the conclusion that it was BS. My wife took essentially the same class 20 years later, also in pursuit of a business degree, and came to the same conclusion about it as I did.<br /><br />I read Stockman's book "The Great Deformation". His book is what convinced me that all of the management consultancies as well as the private equity fund management types are nothing more than the corporate equivalent to house flippers. It is the Greenspan/Bernanke/Yellen cheap money policy that has driven all of this over the past 20+ years.kurt9https://www.blogger.com/profile/02101147267959016924noreply@blogger.comtag:blogger.com,1999:blog-8497093028548856666.post-52508857216872112132016-10-01T12:02:19.162-04:002016-10-01T12:02:19.162-04:00I lost respect for Krugman when he babbled some st...I lost respect for Krugman when he babbled some stupidity years ago about how we need to pretend we will be attacked by space aliens and use that as pretext to dump money into the economy.<br /><br />I have a great deal of regard for the Austrian school though a some of their members have a blind spot with the IQ issue and open borders. <br /><br />I would not say the following are economist in the traditional sense but make more sense than the establishment ones like Krugman and Stigliz: David Stockman, John Hussman, Marc Faber, James Grant, Jim Rogers, Bill Gross, and a few others who can use some sense.<br /><br />I'm still baffled by economist who disparage the gold standard which basically worked to a large degree but no have answer as to why many national banks have these enormous gold holdings. If gold and other precious metals are not good money, why do these institutions insist on holding it?Lab Guynoreply@blogger.com