Bloomberg predicts recession, complains how mainstream economists keep getting it wrong.
In fact, the “Soft Landing” line has been trotted out before every single actual recession since 1969. To the point the phrase itself is a red flag, like “our banking system is fundamentally sound.”
If Bloomberg wonders why top economists get it so wrong, the truth is pretty simple: they’re paid to get it wrong.
Video at the link above.
Via @WallStreetSilv – Nice to see Bloomberg noticing how dishonest regime economists are, but they let them off with “economics is complex” when the reality is a lot simpler: When government is paying their salary, the economists say what they’re told.
As someone with a 12th Grade education (from the 80s before it truly rotted), we had to pass an economics course. I wrote this three years ago, with very few edits required. Why does someone with a single high-school course 40 years ago still know about the M1 money supply and what happens when it increases:
https://tradingeconomics.com/canada/money-supply-m1
1) there is no threat of inflation due to the government borrowing then “spending” a trillion dollars
2) there is no inflation, like we said
3) there is some inflation, but not everywhere, and its not bad, so point 1 stands, please ignore point 2
4) there is some inflation in some minor areas such as fuel, housing and food, but its manageable
5) its only for a short time, just like two weeks to flatten the COVID curve, remember then?
6) inflation is actually good, Colbert says so, and who would know better than a celebrity millionaire?
7) the government has a plan for inflation if it ever really becomes a for real problem for real people
8) you’ll love wage and price controls…
9) its corporate greed that somehow didn’t exist two years ago, just started overnight
10) no, increasing taxes isn’t inflationary either
11) did we mention the inflation that isn’t happening, but would be great, is Putin’s fault?
12) overturning Roe will damage the economy
13) CTRL/H inflation/stagflation
14) CTRL/H stagflation/recession
15) CTRL/H recession/New Great Depression
Note: blame the Republicans is taken for granted for being 1a), etc.
Econ 101, was a grade eleven course in the late 50’s. I am sure we learned more than a four year econ grad these days. I remember that 2% inflation was considered a disaster.
I’m expecting a Black Swan, any minute now.
So regime economists paid by the government to spout propaganda can’t be trusted.
But regime scientists paid by the government always tell the truth and should be trusted implicitly. Have I got that right?
Hey I’m an economist! And I am predicting a severe North American recession! Even the Bank of Canada, a pillar of establishment economics, today issued its quarterly Business Outlook Survey:
https://www.bankofcanada.ca/2023/10/business-outlook-survey-third-quarter-of-2023/
It surveys what businesses believe is happening. And the above link sees higher wage costs, continued inflation, and decelerating growth towards a recession in 2024. It’s a worrying report.
I set up my money for a ten year and a ten year draw down, ten for for me, and now ten on my wife’s side. My ten ends in Dec and my wife’s is activated in Jan. The only worry is the f*****g government. We have allowed stupid to destroy us.
I do not think I will have to worry about the coming ten, old f*** that I am.
Looks like government-paid economists and government-paid climate scientists are soul mates.
Most of the nostrums spouted by economists are lies put about by the notorious genteel English anti-Semite and pedophile John Maynard Keynes. Keynes’s only qualification for pontificating on how the world worked was being the son of a member of the (notoriously anti-Semitic and pedophilic) British elite.
(He was one of those legacy students whom we are now assured have no place in university. How things change.)
Keynes’ belief system amounted to little more than a run-of-the-mill anti-Semitism rooted ultimately in his own lack of a sense of right and wrong. Judaism insists that people follow a strict moral and ethical code, which Keynes, a professed “immoralist,” refused to do. Hence Judaism needed stamping out.
Keynes acquired most of the specifics of his economic delusions from a now-almost forgotten Scottish utopian socialist and anti-Semite, C. H. Douglas. Douglas thought depressions were caused by Jewish bankers, partly on the basis of a profound misunderstanding of basic accounting principles, and was convinced all that was required to ensure an easy life for all was to print funny money and give it away.
Keynes’ only real objection to Douglas’s preposterous plan was that a bit of the funny money might find its way into the hands of people who actually needed it. Keeping interest rates ridiculously low allowed any well-connected charlatan (such as Keynes himself, who made a fortune speculating on foreign exchange) to be a great financier, until the bubble burst.
Even then, only people who worked for a living, feared the Lord and kept His commandments needed to fear expropriation. The elites would, thanks to limited liability, be free to stick their creditors with the bill for their mismanagement, leaving them free to figure out which Jew they would blame the crisis on in every “mainstream” newspaper.
None of the elites would be forced to move in with relatives or find themselves in middle age living in welfare hotels or in tents, with no hope of ever finding more than the most menial work ever again, never mind owning a home.
(Trust me, if the Jews ran the world it would be a much richer and happier place than it is. Far more so than a Canada run by a French-Canadian homosexual and a “Ukrainian” Nazi.
Back in reality, anybody who thinks the Jews control global finance needs to explain why Israel has a national debt.)
ALSO, from Taki Magazine, this gem.
Informative and, most importantly, amusing.
Bidenomics vs. MAGAnomics: Two Tastes of the Same Old SHIT
https://www.takimag.com/article/bidenomics-vs-maganomics-two-tastes-of-the-same-old-shit/print
For the record I was attracted to Trump for his anti-intervention and anti-war stance. I never bought the booming economy argument. Trump, like most, is an utter ignoramous on economics and pressured the Fed to continue its zero bound interest rate policy (like all real estate developers are wont to do).
Economists are to the economy what epidemiologists are to public health…”frequently wrong, but never in doubt”.
Yes indeed. Covid proved that in spades.
As useful as an accordion in a deer stand.
I stopped watching after “the moon landing, if you believe such things”.
Economists’ main predictions are wrong most of the time. Most economists are academics, the remaining few are employed by large corporates.
Some years ago, someone looked at headline predictions of the Economist magazine. He found that 80% of them turned out to be wrong.
When one has to come up with an explanation that mustn’t point to the root causes, you can guarantee the answers will be deceptive.
The real reason is because the deceptively public-sounding yet privately owned counterfeiter, the Bank of Canada, printed a shit ton of money. And the criminal organization we call “government” “borrowed” this printed money to waste on stupidity, from which they and their friends profited. The result being a massive increase in currency req’d for the same basket of goods.
Hence the price of those goods went up by the same ratio as newly counterfeited dollars printed.
Then the central banking cartel raised interest rates to “cool the economy” which was only ever fueled with funny money to begin with. As a result, those who never gained anything from the money-printing will be forced to pay more for groceries, gas, mortgage payments, and everything else.
All while the same POS’s who purposely caused the problem pretend to solve it.
Thus they put out the professional liars to spin their Keynesian stupidity to dazzle and confuse the masses.
The real question s/b, why did these evil, self-interested POS’s purposely do the above? Like usual, to devalue the wealth of the dwindling middle class, while pretending that the economy is like the wind. Who knows where it’ll take us next…?
They should all be lined up against a wall.
‘Economists’ are like ‘Climate Scientists’ and ‘Fact Checkers’
They’re paid liars. And here’s proof:
https://twitter.com/paulkrugman/status/1712494317024026761