What happened to all of the doom and gloom economic threads?

[rosco rathbone]

We traded at the tribal level if you want to call Somalia a government...




Hell, the first trade was meat for pussy.

More like pussy for protection.

 

[4est_4est_Gump]

More like pussy for protection.

And once a month, protection from the pussy...

 

[4est_4est_Gump]

HEY U_D!


Your statistics lesson continues...

(U2 merc - Praxeology)

When I received my PhD in 1968, I was a completely conventional neoclassical economist; nothing in my education to that point had sought to make me anything else. However, I was already skeptical of the high degree of mathematical formalism and conceptual artificiality in economic theory — one of the reasons I was drawn to specialize in economic history, which is necessarily much closer to the ground — so I was predisposed to look at conventional models and methods skeptically, and I did so to an increasing degree as I proceeded with my own work as an economist.

As time passed, my views changed substantially, but never very quickly except in the immediate aftermath of my reading of Mises's Human Action, which posed a major challenge to many of the views I held at the time. Nevertheless, I did not instantly abandon neoclassical economics and become a full-fledged Austrian economist; that transition took many years, and perhaps I have still not completed it.

In addition, as I learned more about econometrics — not only in theory, but also in actual practice — I became very skeptical of how mainstream economists use this set of statistical techniques. For one thing, few of them pay any attention to the quality of the data they employ; most simply plug in data drawn from standard sources, usually government-generated databases. Hence, the result of their econometric exercises, regardless of their method's seeming sophistication, is frequently GIGO: garbage in, garbage out. In addition, I learned that econometrics rests to a great extent on false assumptions about the underlying sampling by which the data have been obtained. Usually in economics, no genuine random sampling at all has taken place. The analyst simply plugs in historical data — the only data that do, or can, exist on the subject at hand — and treats those data as if they were the results of a random sampling procedure. For this reason, virtually the entire ceremony associated with so-called tests of statistical significance is misplaced and does not mean what it is taken to mean. My old friend Deirdre McCloskey has been tutoring the mainstream profession for decades about this matter, but professional practice in this regard continues much as it has for decades.

Robert Higgs

 

[rosco rathbone]

And once a month, protection from the pussy...

Once a month they get sent to another cave up the mountain under threat of a beating with a big cartoon club.

 

[rosco rathbone]

Interesting that you cite Robert Higgs. I've had his book "Against Leviathan" on my to-read list ever since I read a recco by that old Stalinist, Alexander Cockburn (RIP).

 

[4est_4est_Gump]

Once a month they get sent to another cave up the mountain under threat of a beating with a big cartoon club.

Interesting that you cite Robert Higgs. I've had his book "Against Leviathan" on my to-read list ever since I read a recco by that old Stalinist, Alexander Cockburn (RIP).

I'm not sure if he's on my list, I'd have to go look. Still finishing Wicksteed...

Have a new one on Bear Sterns to get through too.

I miss cartoon clubs...

Batman...


nananananananananana...

 

[mercury14]

Merc likes to rely on the fraudulent CPI as the true measure of inflation. It's merely a tool designed by the Fed to conceal true inflation. They omit food and energy costs as too erratic to accurately measure inflation. Truth is they are an accurate measure as they are tied directly to the value of the Dollar. They like to deny inflation at it's most apparent manifestation. Inflation is the all important tool for managing, taxing, and fleecing the American people. The welfare state cannot exist without inflation.

The Fed isn't run by people who worship the "welfare state". In fact it's run by a Republican former Bush administration official. Why would someone like that have any of the motives you accuse him of?

I don't think you've thought this out.

 

[4est_4est_Gump]

The Fed isn't run by people who worship the "welfare state". In fact it's run by a Republican former Bush administration official. Why would someone like that have any of the motives you accuse him of?

I don't think you've thought this out.

I think you you forget that they are run by central planners and academics...


... who rely too much on flawed models and theories.


Bush was no Austrian.

 

[mercury14]

Everyday you slip further and further off your rocker.

Yeah I called you out on another one of your dumbass posts. The fact is you don't really know the difference between a million, billon, and a trillion dollars. They all sound like big numbers to you, so you end up bitching about chump change.

Oh noes, someone said Obamacare is going to cost another $4 billion dollars! Meanwhile you don't see fit to moan about the Republican Medicare Part-D which has cost a TRILLION dollars over a decade. And those claiming to be fiscal conservatives assigned it no funding stream whatsoever (while criticizing Obamacare for having funding)...

Hypocrites.

 

[RobDownSouth]

Yeah I called you out on another one of your dumbass posts. The fact is you don't really know the difference between a million, billon, and a trillion dollars. They all sound like big numbers to you, so you end up bitching about chump change.

Oh noes, someone said Obamacare is going to cost another $4 billion dollars! Meanwhile you don't see fit to moan about the Republican Medicare Part-D which has cost a TRILLION dollars over a decade. And those claiming to be fiscal conservatives assigned it no funding stream whatsoever (while criticizing Obamacare for having funding)...

Hypocrites.

Selective Outrage has always been one of teh main tools in their arsenal.

 

[busybody..]

HOW’S THAT HOPEY-CHANGEY STUFF WORKIN’ OUT FOR YA? (CONT’D): Government Motors: GM Stock Hits New Low, Taxpayer Loss Hits $35 Billion.


I know

Lets build more Chevy VOLTS.....takes 8 hrs to charge and get 2 hrs of drive time or 49 miles, which ever is less


WHY DONT WE JUST BURN $10 billion and save the rest?

 

[mercury14]

I think you you forget that they are run by central planners and academics...


... who rely too much on flawed models and theories.


Bush was no Austrian.

That doesn't matter. Why is a Republican former Bush official in love with the welfare state? What evidence do you see of this?

So you don't want the top macroeconomics job in the world to be run by economists. What do you think is a more suitable qualification for an economics post?

 

[4est_4est_Gump]

That doesn't matter. Why is a Republican former Bush official in love with the welfare state? What evidence do you see of this?

So you don't want the top macroeconomics job in the world to be run by economists. What do you think is a more suitable qualification for an economics post?

Yes, it does matter. Because Republican means so many things other than the narrow definition you keep trying to apply to it. I have posted many, many times about the fallacies of Bernake. I will be happy to trade essays with you, me on Bernake and the Fed, you on my economic philosophy.

Not really. I'm not a fan of a central bank. Fiat money leads to bubbles and inflation.

Timmy Geithner, for example has never, ever worked in the private sector. I would like to see people who have more understanding of Human Action than they do GIGO modeling...

 

[4est_4est_Gump]

HOW’S THAT HOPEY-CHANGEY STUFF WORKIN’ OUT FOR YA? (CONT’D): Government Motors: GM Stock Hits New Low, Taxpayer Loss Hits $35 Billion.


I know

Lets build more Chevy VOLTS.....takes 8 hrs to charge and get 2 hrs of drive time or 49 miles, which ever is less


WHY DONT WE JUST BURN $10 billion and save the rest?

I think we simply need to rename them Chevy Hopes...

 

[busybody..]

That doesn't matter. Why is a Republican former Bush official in love with the welfare state? What evidence do you see of this?

So you don't want the top macroeconomics job in the world to be run by economists. What do you think is a more suitable qualification for an economics post?

STFU, NIGGERPOONZANDI, you SCHMUCK!

 

[eyer]

$26,000 grant stipend and the last 18 months drawing unemployment...

...sure reads like State-sponsored terrorism to me.

 

[4est_4est_Gump]

$26,000 grant stipend and the last 18 months on welfare...

...sure reads like State-sponsored terrorism to me.

*chuckle*

Maybe we need background checks for grants...

 

[RobDownSouth]

I will be happy to trade essays with you...

This is why I would soooo love to meet AJ in an actual face-to-face debate.

Without internet access to Lewie Rockwell's Mises-generated talking points, I suspect AJ would be reduced to a stammering incoherent ball of hate....even more than he is online.

 

[mercury14]

Yes, it does matter. Because Republican means so many things other than the narrow definition you keep trying to apply to it. I have posted many, many times about the fallacies of Bernake. I will be happy to trade essays with you, me on Bernake and the Fed, you on my economic philosophy.

Not really. I'm not a fan of a central bank. Fiat money leads to bubbles and inflation.

I don't care what you think Republican means. Show proof that Bernanke is a welfare state socialist/commie/clown. Or abandon the point and concede that Vette is just making shit up. Greenspan was a Reagan appointee and served under three Republican presidents. Was he also a lover of the welfare state? I don't think you thought this through.

You didn't answer the question, which background is better for economics than economics?

Timmy Geithner, for example has never, ever worked in the private sector. I would like to see people who have more understanding of Human Action than they do GIGO modeling...

Yes, he did. The lying propaganda outlets you get your information from lied to you, and you took their lies at face value.

Kissinger Associates

Kissinger Associates, Inc., founded in 1982, is a New York City-based international consulting firm, founded and run by Henry Kissinger, and Brent Scowcroft. The firm assists its clients in identifying strategic partners and investment opportunities, and advises clients on government relations throughout the world.
Prominent staff have included:

L. Paul Bremer, former managing director. Former Iraq Director of Reconstruction.
Nelson Cunningham, political advisor and managing partner at Kissinger McLarty
Lawrence Eagleburger, former United States Secretary of State[8]
Richard W. Fisher - President, Federal Reserve Bank of Dallas [1]
Timothy F. Geithner - United States Secretary of Treasury
Jami Miscik - president and vice chairman. Deputy Director for Intelligence, Central Intelligence Agency.
Joshua Cooper Ramo - Managing Director, former senior editor of Time Magazine
Bill Richardson, former Senior managing director. Former U.S diplomat and immediate past Governor of New Mexico.
J. Stapleton Roy, vice-chairman. Senior U.S. diplomat.
Brent Scowcroft, former vice-chairman. Former United States National Security Advisor.

http://en.wikipedia.org/wiki/Kissinger_Associates

 

[4est_4est_Gump]

Merc, you're getting confused here...



Where did Timmy work when he got out of college?

 

[4est_4est_Gump]

"I don't care what you think Republican means. Show proof that Bernanke is a welfare state socialist/commie/clown. Or abandon the point and concede that Vette is just making shit up. Greenspan was a Reagan appointee and served under three Republican presidents. Was he also a lover of the welfare state? I don't think you thought this through."

That's your words, your ascription and your usual tactic.

If you cannot be honest, just stfu...

 

[mercury14]

"I don't care what you think Republican means. Show proof that Bernanke is a welfare state socialist/commie/clown. Or abandon the point and concede that Vette is just making shit up. Greenspan was a Reagan appointee and served under three Republican presidents. Was he also a lover of the welfare state? I don't think you thought this through."

That's your words, your ascription and your usual tactic.

If you cannot be honest, just stfu...

Yeah that's Vette's point that you're defending... that the Fed conceals the inflation rate and serves to promote welfare. If you don't agree with Vette then don't defend his points.

 

[mercury14]

Merc, you're getting confused here...



Where did Timmy work when he got out of college?

In the private sector at at Kissinger and Associates.

 

[mercury14]

In the private sector at at Kissinger and Associates.

*Long pause while AJ scours his sources, realizing that he's been taking lies at face value again*

Edit: Still speechless that you could have been so misinformed, eh?

Edit #2: AJ fled the thread, hoping tomorrow nobody remembers how wrong he was.

 

[unregistered]