Economics as a Con Art

I just read this blog post about economic theory being ‘hollowed out’.  And I can confirm everything that the author states: Modern economic theory is a pseudo-science: Unlike engineers and chemists, economists cannot point to concrete objects – cell phones,… Read More ›

Those wonderful immigrants.

I posted this on another blog on July 10, 2013. This article really got my goat today: GOP should remember: Data show immigrants enforce, not threaten, US values According to the Pew Research Center, 46 percent of Americans believe “the… Read More ›

From the Bureau of Lying Statistics

Yesterday (December 8, 2017) the Bureau of Labor Statistics released its Employment Situation Summary for November 2017.  The BLS reported that Total nonfarm payroll employment increased by 228,000 in November, and the unemployment rate was unchanged at 4.1 percent, the… Read More ›

Oh Oh It’s Magic!

A few years ago, I gave a short explanation of how government economists are fudging their statistics.  I explained that GDP numbers are just estimates, and they don’t really matter anyway: … government economists make estimates of GDP. Then, they… Read More ›

Who pays federal income taxes?

Remember when Mitt Romney said that 47% of Americans don’t pay taxes in 2012 ?  And how he got pilloried for it in the press, because everyone knows that the rich don’t pay taxes, right? It turns out that Romney wasn’t that far… Read More ›