Economists are worse than fortune tellers....

[chess9]

Here's why:

Text

Over the last 26 months the consensus economists have predicted job growth of 526,000 jobs, but the economy has lost 152,000 jobs.

Are these people we should trust, or even listen to? I don't think so. They are tools and fools who've sold their souls to Wall Street and the right wing money mavens. No wonder Lou Dobbs is regularly wiping the floor with them.

You go, LOU BABY!

-Robert

 

[Siddhartha]

Originally posted by: chess9
Here's why:

Text

Over the last 26 months the consensus economists have predicted job growth of 526,000 jobs, but the economy has lost 152,000 jobs.

Are these people we should trust, or even listen to? I don't think so. They are tools and fools who've sold their souls to Wall Street and the right wing money mavens. No wonder Lou Dobbs is regularly wiping the floor with them.

You go, LOU BABY!

-Robert

The economy is a very complex system. There is a business cycle model that kind of predicts what the econmy is going to do but it is not great.

 

[GoPackGo]

Originally posted by: chess9
Here's why:

Text

Over the last 26 months the consensus economists have predicted job growth of 526,000 jobs, but the economy has lost 152,000 jobs.

Are these people we should trust, or even listen to? I don't think so. They are tools and fools who've sold their souls to Wall Street and the right wing money mavens. No wonder Lou Dobbs is regularly wiping the floor with them.

You go, LOU BABY!

-Robert

Lets do an experiment...lets take away all the wealth of the left and based on an equal proportion of how much wealth the right has divide that among an equal percentage of homeless and unemployed.

So therefore if the left has 40% of the wealth then that money is divided among 40 % of the homeless and unemployed...if they only have 10% then only 10% of the homeless and unemployed get that money.

We will include the former wealthy in that percentage since they will now be homeless.

How much money does everyone get? How long will it last?

What if we took 100 % of the wealth in america of people with assets over $200000 since this is political magic number and distributed it to all the homeless and unemployed....how much would each one get and how long would it last?

By the way...we now have liquidated all major assets into cash so this could be done....who now owns the US?....but the homeless and unemployed got all the cash...

 

[GoPackGo]

I found this at the BBC Rich Americans

its says that the top 400 richest people made a total of 69 Billion Dollars. What evil people.

So I say lets take all that money and divide it among everyone all 166 million people.

Guess what your big check would be.......$415.

Wooohoo...

 

[dmcowen674]

Economists are worse than fortune tellers....

Thanks Chess, I've been saying this for quite some time. I would tell one these Yo Yo's to their face what I think about the job they are doing. They should hear Donald's words, You're Fired.

I posted here the E-mails I had with a local Economist that appears on a local TV station here.

Good thing I didn't place any bets on what he said over a year ago.

 

[GoPackGo]

Originally posted by: dmcowen674
Economists are worse than fortune tellers....

Thanks Chess, I've been saying this for quite some time. I would tell one these Yo Yo's to their face what I think about the job they are doing. They should hear Donald's words, You're Fired.

I posted here the E-mails I had with a local Economist that appears on a local TV station here.

Good thing I didn't place any bets on what he said over a year ago.

Are they worse than fortune tellers or weathermen?

 

[LunarRay]

For at least part of their analysis Economists use surveys and statistically reasonable sampling to input into their models the thinking of the folks making the decisions. These folks are not responding 'truthfully' or they just don't know and are compelled to say something and say something positive because they think positive. They also assume a correlation between GNP and jobs to be greater than it is in todays reality. They know there is a base level of jobs needed to support the population growth as well as the financial needs of the people.. What they are not factoring in well enough is the actual wages of the created jobs versus the actual wage of the job losses.. this variance causes former non working spouses to seek work thus increasing the demand for job creation. When this is not met the negative psychology starts to seep into the economy and stuff slows down. They also presume the fiscal policy enacted - which most agree with - will have a significant positive impact and it has not. It has had a positive impact but, not significant. And finally, the models used are obsolete for this kind of economy that has occurred in the last 15 or so years.. the old thinking just don't hunt.

Also ... see my sig..

 

[Siddhartha]

Economist are like meteorologist.