24 Replies to “What Would We Do Without Experts?”

  1. I always find it funny when I say that this high inflation is because of Trudeau and the left replies with “It’s not just high in Canada. Is Trudeau responsibile for the whole world?”

    No, but they all followed the same destructive plan of action: Lock everybody down and print money.

    Trudeau made it worse by giving a lot of that money to his friends.

  2. It’s not incompetence. It’s purposeful ideological application. They changed the actual definition of “Recession” so they could say that one didn’t exist. They cheered the Anti-Inflation Recovery Act despite its contents doing nothing more than adding to inflation. Politicians are the ones that are economically illiterate. Economists are their cover. Comically so. I just saw an article that stated that there is a pending bill in California to make the minimum wage $50.

    1. What? You don’t honestly believe your Chik-Fil-a clerk deserves a “living wage”? Everyone voting in CA does … at least until their spicy chicken sandwich costs $23.95

  3. You could get away with “Two weeks to flatten the curve” and cause minimal economic damage.

    Two years to flatten the curve is a whole ‘nother story. PLUS! Firing people in key positions who refused the clot shot wasn’t going to help matters.

    Qui bono? Anyone with billions waiting to swoop in and buy up bankrupt businesses for pennies on the dollar.

  4. Duh..

    One of my relatives is an economist for a large Alberta city. I dont know what he really does.. Bought a run down house at the market peak, drives a car that routinely breaks down and messes around on the stock market, etc., but he’ll probably be the richest man in the graveyard.

    Never trust; A skinny chef, an investment adviser who’s broke, or any politician!

  5. It is because media and politicians rely solely on economists that are aligned with the government’s policies. Particularly in Canada where the Trudeau Liberal-NDP government funds both the media and the “Economist Party”. Ever noticed about 5 economists in Canada are always the “experts” in mainstream media reports. Very rarely do they those economists ever criticize Liberal political policies. It is comically obvious that they are shills for the Liberal Party.

    1. LC

      Notice that the predictions of economists are never reviewed a year (or more) later to see how many were right.

      1. You’re right, of course. Economists and other experts pay no price for being wrong so there is zero economic downside for being a government lackey. They just have to be able to justify their lack of professional integrity and lack of personal honesty by convincing themselves that their Noble Lies are for the greater good.

    2. Economists’ predictions remind me of this story.

      In January John gets an unsolicited letter from an economic analyst saying the stock market will go up by month end

      In Feb, another letter says the market will go up by month end.

      In March another letter says the market will go down by month end

      After 6 months of successful predictions, John figures this analyst really knows his stuff, and give him most of his savings to invest.

      Three months later John has lost 60% of his money.

      He tells his story to Bob from down the street. Bob says he got two letters, but the second month said the market would go down. No letter in month three.

      The analyst sent out 5000 letters in January. Half saying market would go up, half saying it would drop.

      In Feb 2500 letters (again split 50/50) went out to the recipients of the successful Jan prediction.

      In March 1250 letters went out.

      You get the idea.

      In addition to fraud, it’s called survivorship bias, and it’s purely due to random luck.

    3. It would be helpful if they actually hired economists.

      Rather than Keynesians.

      The two are polar opposites. The former study economics, while the latter study communism and central banking and sell both to us as positives in economic-sounding language.

  6. Many decades ago I was talking with a (drop-dead gorgeous) co-worker. She was talking about her boyfriend who was a crane operator, one of those huge skyscraper type. She told me that after he graduated, he looked at what he could earn using his degree and what he could make operating a crane.

    His degree? Economics.

    Clearly he did learn something.

    1. A friend of mine was a truck driver. One day they asked him to drive a crane from Sudbury to Windsor. He was early and stopped to talk to the crane operator. When he learned how much the crane operator earned, he became a crane operator. One day he was waiting for his crane to arrive and a driver pulled up with another crane. The guy got out of the truck and started assembling the crane. My friend asked him – how the hell do you that? Do you drive the crane and assemble it too? The guy explained he also operated the crane. So my friend became a crane operator who drives his own crane and also assembles it. The guy now makes more money than God.

      Question: Why do economists wear cheap suits? Because they take their own advice.

    2. I can relate to this story. I have a B.A. in finance and another in economics. Don’t ask why. I was tracked down by a prof, who wanted me to pursue graduate studies. I asked where it would lead. He looked bewildered and didn’t offer a good enough answer, so after graduation I wandered back to construction work. Pays well and is satisfying.
      March 16, 2020, as the “two week” lockdown was commencing, I said the following; a two day disruption, with voluntary business closures, as a result of a blizzard, causes some havoc, as does flight cancellations due to volcanic eruptions in Iceland. But, 2 weeks of closures around the western world? We may never recover. And of course, employed economists couldn’t figure this out.

  7. Economic reality and dependability depends on the school of economics. Keynes and Marx are the schools preferred by the institutional left while Von Mises, Rothbard, Hazlitt, Hayek and Freidman, are in the Austrian and Chicago schools aligned with libertarians.

    “We will not have more crashes in our time.” – John Maynard Keynes, 1927

    1. People with overt perversions should not be regarded as experts in anything. Odds are enormous that the visible perversion is just the tip of the iceberg in terms of their moral character.

      Keynes was a known f@ggot.

      Enough said.

  8. Economists are like political Scientists.
    Purely superficial Zero structure.
    Another modern lie,designed to put that lipstick on the pig.
    As for “Who need economists”?
    The Bureaus need these fellow travellers,to provide “Expert Sanction” for policies predetermined.
    We no longer have “Evidence Based Policy Making”,this died with our old friend Common Sense.
    We live in the age of “Policy Based Evidence Manufacturing” of which all these fake experts exist to protect.

  9. “Experts.” Like Chrystia Freeland who has just increased the federal borrowing limit to $517 billion. In her words:
    “What it does is set a ceiling for how much the government can spend,” Freeland continued. “We are saying this is the upper limit to which the government may borrow, but we are not saying the government will undertake those borrowings, nor are we saying anything about government spending.”

    Then why up the limit? They are lying and don’t care that we know. They despise us taxpayers.

  10. My favorite question is “If Modern Monetary Theory allows the government to borrow as much money as it wants, then why do we pay taxes?”. That – is an unanswerable question.

    1. It is not unanswerable as you know the answer: “Because contrary to Just Incapable the First, budgets do not balance themselves”.

      1. Unanswerable to those promoting MMT. But yes we know the answer. It goes something like this.

        Modern Monetary Theory (printing money to pay for everything) works as long as it doesn’t cause inflation.

        Printing money causes inflation.

        Modern Monetary Theory – oh crap.

  11. With one exception, no economists predicted the major 2007 to 2009 U.S. recession. The one who did regularly predicts recessions so he happened to be right that one time.

  12. Biden isn’t spending any less money than he ever did. Thus the economy will grow, inflation will continue on the north side of 3%, the national debt will increase and life will become less affordable than it is now…Oh, and BTW, there will be huge tax increases.

  13. I’m amazed at how the supply chain has been corrupted and nearly destroyed. I couldn’t find black, flat, shoelaces at 45″ anywhere I looked in Hamilton, ON. Had to resort to Amazon, again.
    SHOELACES!
    October 17th was involved in an accident that totalled our car, in the Chicago area. NO rental agency would rent one-way. Wound up renting a U-Haul cube van. One-way is their specialty.

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