I’m sorry, but economists...
Had to vent...
Comments
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They are people, so I'm sure some are. I've seen precious little evidence that they are especially dumb or that they uniformly agree with one another.
What got your goat? -
Probably dumbfucks that think like you.HHusky said:They are people, so I'm sure some are. I've seen precious little evidence that they are especially dumb or that they uniformly agree with one another.
What got your goat? -
This is the genteel bored. You need to use the term "ignoramuses".Blu82 said:
Probably dumbfucks that think like you.HHusky said:They are people, so I'm sure some are. I've seen precious little evidence that they are especially dumb or that they uniformly agree with one another.
What got your goat? -
Guy got a question on if there is a limit to how much money the Fed can print and how large the Federal Government deficits can go and he replied by saying 'the interest rates are incredibly low so the Federal Government should be borrowing everything it can'.
Same guy literally got several questions about unnaturally high oil prices considering the reduction in usage, rapidly rising housing prices, and if the stock market is overvalued and then went on a long talk about how amazingly low inflation numbers are...
Guy forecasts 6% GDP growth for at least the next 2 years...
Had a sweet graph too on how the economy as a whole will be above prepandamic forecasts for 2023 if we pass the large stimulus in front of Congress...admitted under questioning that there is a minor assumption of just using standard multipliers (i.e. if you borrow 10 trillion than the GDP will grow to 50 trillion, or the more the govt spends the better the economy looks...).
With these folks in charge we might get some of those Chinese empty cities built yet...
I'd avoid Spanish banks. -
HoustonHusky said:
Are some of the dumbest people around. They amaze me at times.
Had to vent...
Adam Smith is gonna come back from the dead and bitch slap you with his invisible hand. 😄
Just curious @HoustonHusky, what theories or individuals are causing you the most irritation? -
Chintresting. He's basically saying, in a nutshell, that the game works.HoustonHusky said:Guy got a question on if there is a limit to how much money the Fed can print and how large the Federal Government deficits can go and he replied by saying 'the interest rates are incredibly low so the Federal Government should be borrowing everything it can'.
Same guy literally got several questions about unnaturally high oil prices considering the reduction in usage, rapidly rising housing prices, and if the stock market is overvalued and then went on a long talk about how amazingly low inflation numbers are...
Guy forecasts 6% GDP growth for at least the next 2 years...
Had a sweet graph too on how the economy as a whole will be above prepandamic forecasts for 2023 if we pass the large stimulus in front of Congress...admitted under questioning that there is a minor assumption of just using standard multipliers (i.e. if you borrow 10 trillion than the GDP will grow to 50 trillion, or the more the govt spends the better the economy looks...).
With these folks in charge we might get some of those Chinese empty cities built yet...
I'd avoid Spanish banks.
I still cling to one basic thought: don't we need real value in there somewhere for growth? -
HHusky said:
This is the genteel bored. You need to use the term "ignoramuses".Blu82 said:
Probably dumbfucks that think like you.HHusky said:They are people, so I'm sure some are. I've seen precious little evidence that they are especially dumb or that they uniformly agree with one another.
What got your goat?
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Probably someone like Krugman.HoustonHusky said:Guy got a question on if there is a limit to how much money the Fed can print and how large the Federal Government deficits can go and he replied by saying 'the interest rates are incredibly low so the Federal Government should be borrowing everything it can'.
Same guy literally got several questions about unnaturally high oil prices considering the reduction in usage, rapidly rising housing prices, and if the stock market is overvalued and then went on a long talk about how amazingly low inflation numbers are...
Guy forecasts 6% GDP growth for at least the next 2 years...
Had a sweet graph too on how the economy as a whole will be above prepandamic forecasts for 2023 if we pass the large stimulus in front of Congress...admitted under questioning that there is a minor assumption of just using standard multipliers (i.e. if you borrow 10 trillion than the GDP will grow to 50 trillion, or the more the govt spends the better the economy looks...).
With these folks in charge we might get some of those Chinese empty cities built yet...
I'd avoid Spanish banks.
I'm not opposed to still borrowing money at amazingly low interest rates, but that spending has to go into things like infrastructure and/or R&D which increase productivity and have long term ROI. I don't see the point in just giving everyone $2K.
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You'd be amazed at the US GDP multiple of funding gender studies in Pakistan...YellowSnow said:
Probably someone like Krugman.HoustonHusky said:Guy got a question on if there is a limit to how much money the Fed can print and how large the Federal Government deficits can go and he replied by saying 'the interest rates are incredibly low so the Federal Government should be borrowing everything it can'.
Same guy literally got several questions about unnaturally high oil prices considering the reduction in usage, rapidly rising housing prices, and if the stock market is overvalued and then went on a long talk about how amazingly low inflation numbers are...
Guy forecasts 6% GDP growth for at least the next 2 years...
Had a sweet graph too on how the economy as a whole will be above prepandamic forecasts for 2023 if we pass the large stimulus in front of Congress...admitted under questioning that there is a minor assumption of just using standard multipliers (i.e. if you borrow 10 trillion than the GDP will grow to 50 trillion, or the more the govt spends the better the economy looks...).
With these folks in charge we might get some of those Chinese empty cities built yet...
I'd avoid Spanish banks.
I'm not opposed to still borrowing money at amazingly low interest rates, but that spending has to go into things like infrastructure and/or R&D which increase productivity and have long term ROI. I don't see the point in just giving everyone $2K.
I'm sure if somebody asked him he'd realize/admit the only reason the interest rates are low is because the Fed is monetizing the debt...I doubt he'd ever admit that process drives massive asset inflation currently happening that isn't recorded in the Fed inflation stats. I'm sure the guy LOVES Krugman.
Seriously though...the idea the govt has a list of infrastructure/R&D projects to fund that have any meaningful return is not realistic, much less $2 trillion worth of them. You may get a few more worthless Solyndras out of it, but most of that money is for bailing out cities and states on money already spent, and the idea bailing out NYC or the state of Illinois from their funding mess has a 5x multiple (or whatever this guy was using) is just comical. Its amazing at times how people say things with such authority that if they stopped to think about it for a second they would realize it sounds completely asinine.
