Skip to comments.September 24 2009: Fake, Freak and Pretend
Posted on 09/25/2009 5:48:59 AM PDT by TigerLikesRooster
Thursday, September 24, 2009
Ilargi: When President Obama was on Letterman earlier this week, one of the first things he said on the economy was something to the effect that 'most economists are now seeing a recovery'. But how can you not wonder these days who the economists are the president refers to, and what those same economists were saying a year ago or 2 years ago about the state of the economy?
You would wonder about that because the number of economists who were even remotely close in their predictions back then easily fits on the fingers of one hand, and moreover the ones that were correct are by no means necessarily the ones who have the president's ear.
Hence, you now find yourself with a president whose economic policies are based on the assumptions of a group of people who in general have been god-awfully wrong throughout their entire careers, and most of all when it counted. They can describe in 1000-page tomes what happens within a system that doesn't move much, but as soon as there are substantial fluctuations, none of their theories have any relevance.
Economics is not a science, it just poses as one. And economists are not scientists, even if they have imposing titles behind their names and a Swedish Central Bank award that has hijacked and
(Excerpt) Read more at theautomaticearth.blogspot.com ...
Yes, that is a dark spot in the article. However, it is true that economists have problems they would not admit.