2010 Mid-Term Election Results

[classicman]

economists are bean counters.

[Lamplighter]

No, they are balloon-pokers.

The economy is one big balloon, and so you poke it here and it pops out there.
Each economist can then be an authority on the best place and how hard to poke.

[Spexxvet]

Originally Posted by classicman

economists are bean counters.

Accountants are bean counters. Economists analyze what happens once the beans are processed. That makes them fart sniffers.

[tw]

Originally Posted by Spexxvet

Accountants are bean counters. Economists analyze what happens once the beans are processed. .

Economists are the field’s scientists. Others (ie accountants) are technicians or engineers of that financial discipline.

Economists learn of trends, relationship, and resulting effective in economics. Study symptoms to understand how X caused Y. That part of the field is rather accurate. The problem is when these same people believe money games can fix an economy or create productivity. Believe manipulating Y can fix X. What so many fail to comprehend or measure is how innovation works, why throwing money at something never creates innovation, and that their numbers are always reporting events long after events actually started or happened.

An economist can identify this type of recession so destructive that jobs will continue to be lost for 18 months after the recession ends. But cannot determine when the recession ends until long after the recession ends.

An economist that would fix an economy by averting deflation with money games is fooling himself and too many others. Economists can report on the ballon. But cannot 'fix' it.

Deflation is a monetary number that economists can understand. But are only symptoms of real world events that economist cannot quantify. When he tried to fix an economy by curing that symptom, then an economist is his own worst enemy. Tax cuts to fix an economy is a perfect example. Can actually make things worse.

Same applies to finance industry technicians. Which is why a company’s worst CEO would previously be the CFO.

[Urbane Guerrilla]

Tax cuts to fix an economy is a perfect example. Can actually make things worse.

Don't see how. The corporate reason for not hiring the jobless hardly at all is they don't find the money in any of the company's accounts to pay their hires, not so?

Tax cuts make more money available to said company, not so?

Hiring, assuming the costs of employment are both predictable and affordable, may then proceed, not so?

Reduction of regulatory compliance costs and reduction of the tax bite gives the company the wherewithal to hire, not so?

Tax reduction is essential to recovery. Overregulation prolongs all depressions.

[Happy Monkey]

Originally Posted by Urbane Guerrilla

Don't see how. The corporate reason for not hiring the jobless hardly at all is they don't find the money in any of the company's accounts to pay their hires, not so?

Not so. Corporate cash on hand is at an all-time high.

[tw]

Originally Posted by Urbane Guerrilla

Tax cuts make more money available to said company, not so?

Which is the sound byte promoted by extremists to appeal to those with the lowest intelligence.

Meanwhile, those who deal in reality and fact know that tax cuts only create short term economic thrill (like a drug) followed by serious economic destruction when the bills come due.

Those educated in reality know that tax cuts to the richest do not create jobs. The richest do not create jobs. They simply maximize their wealth at the expensive of all others.

Who creates jobs? Those who aspire to be rich. And those people saw their incomes drop 2% during George Jr's tenure. When tax cuts were enriching those who do not create the new and innovative jobs.

Of course, this has been explained often. It contradicts the extremist agenda. Best to ignore it if promoting Limbaugh lies and Hannity hyperbole.

Tax cuts never created innovation or the resulting jobs. History over 30 years said jobs were created when fiscal responsibility (including tax increases) were implemented. Only those most easily manipulated by MBA myths think money games can create innovation and jobs. But again for those who ignored history, the Kennedy tax cuts only resulted in job losses so many years later.

Making the rich richer has – every time – been followed by massive recessions. Only people living in reality learned this history.