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Thread: weekend commentary - The Naked Economist indeed

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    Default weekend commentary - The Naked Economist indeed

    (snip)"The Naked Economist, Mr. Wheelan, Ph.Dumb, says really stupid things which doesn't shock me since he is a professor, after all, and I am a mere farmer. But his latest lies about the jobs we are losing have to be discussed. And another professor is angry about our banking collapse but being a professor and not a farmer, he thinks all we have to do is increase lending to fix our bankrupt banks. And the Washington Post runs a totally erroneous and misleading article about Japan. They don't connect anything to anything there! No mention of the huge FOREX reserves, for example. They want us to think the 'depression' in Japan is due to them being weak and poor. Not due to their own industrialists manipulating the domestic economy so they can take over the global economy!


    I have a naïve request for the balance of the presidential campaign: I don't want to hear any candidate say one more thing about "creating jobs" or "bringing back jobs" or doing anything with the word "jobs" in it.

    That might seem strange at a time when the economy is teetering on the brink of recession, and has eclipsed Iraq as the No. 1 issue on many voters' minds.

    Here's my reason: Other than during the depths of the Great Depression, the government doesn't "create jobs." (World War II created most of the jobs then anyway, and I'm not sure that's the direction we should go.) Instead, a sensible government should help to create a skilled workforce and a decent business climate. If it does that, the jobs will take care of themselves.


    This man should be called Chuckles the Nude Clown. If we click on the story above, we can read the comments which are uncomplimentary, to say the least. I do believe people are getting fed up with the garbage the mainstream media pumps out. It is painfully obvious that auto factories did not move to the Deep South or Mexico due to superior schooling or well educated workers! Far from it. And since when have factories located themselves in high-education venues? The highly educated Chinese, for example, are not working in factories. Nor are university graduates who are Indian. Mexican ones don't do this, either nor do southerners in the US who get degrees from Duke University.

    They go for cheap labor. This guy even pretends that we lack computer experts who can run the robots we see in factories today. This is plainly silly. The robot/computer industry is international and the location of factories are NOT near any major technical schools. They are where there is good transportation and cheap labor.

    Next is his astonishing claim, our government doesn't create manufacturing jobs. 80% of our manufacturing base works in one way or another for the military which is why Eisenhower warned us about the 'military/industrial complex'! In the Great Depression, the government created jobs. All the major governments rushed out to create jobs building sidewalks, roads, bridges, parks, whatever they could. The biggest job growth category in the US for the last 7 years has been the government, especially with the stupid 'Homeland Security' and all the war material jobs for Iraq.

    And that's just plain wrong. Remember, we decided that the star pediatric heart surgeon could find 10 jobs if he had to. And the unemployed guy in Flint couldn't find one. That's a skills problem, not a shortage of jobs.

    Note how this guy confuses a profession with 'jobs.' Comparing blue collar to white collar. In particular, physicians are very much government-related jobs. If the government didn't pour in half a trillion dollars into medical care, the incomes and jobs of those doctors will be much smaller and a lot cheaper. And we will be seeing a very much higher death rate, too. The US has lost blue collar jobs steadily for the last 35 years ever since we allowed a flood of imports into the country."(snip)

    from my 'friend' Elaine at

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    Default Re: weekend commentary - The Naked Economist indeed

    The only thing that this 'commentary' proves is that Elaine is clueless about Economics. Thats the last time I'll read anything from her

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    Default Re: weekend commentary - The Naked Economist indeed

    All I can say is that in astronomy or physics, when a 'favorite' theory starts to become so riddled with holes that it no longer 'holds water' due to an ever increasing pile of new contradictory data, that 'favorite' theory is reluctantly but definitively dropped. However, such does not seem to be the case where Economics is concerned.

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    Default Re: weekend commentary - The Naked Economist indeed

    Quote Originally Posted by Melonie View Post
    All I can say is that in astronomy or physics, when a 'favorite' theory starts to become so riddled with holes that it no longer 'holds water' due to an ever increasing pile of new contradictory data, that 'favorite' theory is reluctantly but definitively dropped. However, such does not seem to be the case where Economics is concerned.
    Usually theories are contradicted by
    i) Other Concrete theories
    ii) Other Research and Actual Data
    iii) Thoroughness, Integrity and Ethics

    They are not contradicted by
    i) Lies
    ii) Selective & Biased Data
    iii) Wishful thinking or hidden agenda

    Just to add,
    Economic theories are constantly updated from Classical Views, Keynsian Views, Game Theory, Options theory, Behavioral Economics and a multitude of research.
    Last edited by xanfiles1; 02-04-2008 at 12:47 AM.

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