Average Nonsense

Economist Frank Shostak delves into the perplexing issue of governments attempting to discern an “average” price level for the economy or calculating GDP “growth”. In a nutshell, the whole idea is nuts.

Suppose two transactions were conducted: In the first transaction, one TV set is exchanged for $1,000; in the second transaction, one shirt is exchanged for $40. The price or in the first transaction is $1000/1 TV set. The price in the second transaction is $40/1 shirt. In order to calculate the “average price,” we must add these two ratios together and divide them by two. But $1000/1 TV set cannot be added to $40/1 shirt, implying that it is not possible to establish the “average price.”

The employment of various sophisticated methods to calculate the “average price” cannot bypass the essential issue that it is not possible to establish an average price of various goods and services. Accordingly, various price indices that government statisticians compute are simply arbitrary numbers. If price deflators are meaningless, so is the real GDP statistic.

 

If It Wasn’t For Government

Who would leave you stranded on a passenger train.

Blacklock’s- MPs Probe VIA Service Again

Passengers aboard VIA Rail Train 622 on a Labour Day weekend trip from Montréal to Québec City were stranded within sight of the Trans-Canada Highway near Drummondville, Que. due to engine trouble. Travelers were told to stay put for hours without food or washroom facilities as a stench akin to burning rubber filled the cars.

Parliament created VIA Rail in 1978 as a passenger service formerly run by Canadian National Railway, then a Crown corporation. Operating losses in recent years totaled $415.7 million in 2020, $370.5 million in 2021, $354.3 million in 2022 and $381.8 million in 2023.

War On Agriculture

Research out of Tufts University three years ago created the Food Compass—a new guide to what is healthy that rivals the Food Pyramid for sheer lunacy. Advising us that Froot Loops and Pringles are healthier choices than meat and eggs, the authors of that research are now promoting ESG + Nutrition, in which their Food Compass informs governments and private enterprise on how to get the population of the world to follow along.

“Mayor Jyoti Gondek” Is Not A Character In A Tim Burton Movie

But she should be.

Calgary is dumping over $500 million into electric buses.

There was supposed to be a pilot program starting in 2022 with a handful of community shuttles. The purchase was done, but they still haven’t been delivered.

Meanwhile, the city said to hell with the pilot and committed to blowing half a billion on this. They felt that they didn’t need a pilot program because it worked so well in Edmonton. This was shortly before Edmonton’s electric bus fleet fell apart.

This is the next big boondoggle folks.

Y2Kyoto: And The Grift Goes On

When the planet won’t follow your models, model a new planet.

Our new paper published in WIRES Climate Change questions the logic and the opportunity costs of building a digital replica of the planet — inclusive of its human population. These-much hyped projects — such as Destination Earth in Europe (DestinE), and similar initiatives in the US and elsewhere — are rapidly being implemented with no serious discussion or debate of how these efforts look through the lenses of system ecology, sociology and political sciences. Better and more equitable use can be made of scarce research resources.[…]

Models exist in a state of exception, having appropriated the academic prestige of mathematics and physics while at the same time escaping the critical gaze of philosophers and social scientists, including to some extent that of the sociologists of quantification. We reached this conclusion by comparing work on mathematical models with what sociologists say about quantification in statistics, economics, algorithms and artificial intelligence.

According to our analysis, modellers have acquired a central position at the heart of the climate change discussion, and make use of this privileged state to increase their political standing and funding, putting themselves at the helm of the climate change narratives and making climate change itself into an all-encompassing meta-narrative, subsuming all ailments of humans and their planet, inclusive of wars, authoritarianism, migrations, and various forms of aggression to planetary ecosystems.

The project of digital twins represents the pinnacle of this movement.

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