Yesterday I was listening to the Kudlow report, which I fell on by mere accident to be honest as I have vowed never to waste my time again trying to gauge the opinions of individuals who had failed to forecast the credit bubble of 2007. However, there on the set were two mainstream economists, probably Keynesians, who were once again getting at it about the " State of the US economic recovery" and the wonderful work and even genius of Fed Chairman Ben Bernanke!
Are you freaking kidding me?
Are these people out of their mind? 14 trillions deficit! 10 years of unsustainable and capital wasting wars! 43 millions of individual who rely upon the government dole to put food on their table! 22 % unemployment if the numbers are counted without biases! And millions of manufactured jobs lost to China and other cheaper market!
Where do they see the recovery they are talking about? I am not a sophisticated intellectual and I certainly cannot read their regression theorem and " magic formulas"; but I know a liar when I see one. These people were just lying, plainly and simply! They cannot even define the simple concept of inflation! Inflation is " An increase in the money supply" That's all it is! Some people want to distinguish credit from the money supply; but those " credits" are denominated in dollars aren't they? So what is the difference? Inflation leads to price increase, that is the logical relation!
To claim to be a free market economy while also engaging in central economic planning led by an incompetent central banker with no real world experience can only lead to disastrous consequences. Mainstream professors are not free minded intellectuals trying to educate the masses, they are member of a regimented cult, the cult of central banking, that demand strict obedience to the cult leader.
It is just sickening to realize that an entire branch of knowledge has gotten it so wrong from the bottom to the top. And these people are paid to stuff the mind of young people with a bunch of " BS"!
No comments:
Post a Comment