Economics Thoughts and Misgivings
Sept 9, 2016 4:06:46 GMT -5
Post by avordvet on Sept 9, 2016 4:06:46 GMT -5
Economics Thoughts and Misgivings
thesilicongraybeard, Wednesday, September 7, 2016
There's an old joke that goes if you laid all the economists in the United States end to end, they wouldn't reach a conclusion. It seems that any set of numbers is rife for re-interpretation (if not re-imagination) to fit any particular theorist's beliefs.
Bayou Renaissance Man got my thoughts flowing on this yesterday. His piece is called, "The economy: If you're not worried yet, you should be!" and it's a bit long but worth reading. For new readers, I come down on the side that the numbers we see that showed a recovery back around 2009 are all lies. To borrow and paraphrase something "Captain Capitalism" says, all those GDP figures have been "violently raped by Washington DC economists." (Last sentence, second to last paragraph).
We all know something is rotten economically. At a minimum we feel it every time we go shopping. Obama is the first president in US History to preside over eight consecutive years in which GDP growth has not exceeded 3% once. And that's with those numbers being "violently raped by Washington DC economists." The Federal Reserve is causing this with all their manipulations of the currency, done entirely to make some numbers on a balance sheet somewhere work out. They claim inflation is less than 2%. The fact is that inflation is roaring, with an overall rate close to 8-10% per year since the late '90s, 18 years ago, if the method used to calculate inflation during the Carter years is still used. That's the blue curve in this plot from Shadowstats.
thesilicongraybeard.blogspot.com/2016/09/economics-thoughts-and-misgivings.html?m=1
thesilicongraybeard, Wednesday, September 7, 2016
There's an old joke that goes if you laid all the economists in the United States end to end, they wouldn't reach a conclusion. It seems that any set of numbers is rife for re-interpretation (if not re-imagination) to fit any particular theorist's beliefs.
Bayou Renaissance Man got my thoughts flowing on this yesterday. His piece is called, "The economy: If you're not worried yet, you should be!" and it's a bit long but worth reading. For new readers, I come down on the side that the numbers we see that showed a recovery back around 2009 are all lies. To borrow and paraphrase something "Captain Capitalism" says, all those GDP figures have been "violently raped by Washington DC economists." (Last sentence, second to last paragraph).
We all know something is rotten economically. At a minimum we feel it every time we go shopping. Obama is the first president in US History to preside over eight consecutive years in which GDP growth has not exceeded 3% once. And that's with those numbers being "violently raped by Washington DC economists." The Federal Reserve is causing this with all their manipulations of the currency, done entirely to make some numbers on a balance sheet somewhere work out. They claim inflation is less than 2%. The fact is that inflation is roaring, with an overall rate close to 8-10% per year since the late '90s, 18 years ago, if the method used to calculate inflation during the Carter years is still used. That's the blue curve in this plot from Shadowstats.
thesilicongraybeard.blogspot.com/2016/09/economics-thoughts-and-misgivings.html?m=1