Fri, 13 Mar 2009 14:39:33 +0000 – I noted with amusement The Wall Street Journal's survey this week, "Obama, Geithner Get Low Grades From Economists." The Journal polled 49 economists who graded the Obama-Geithner economic programs on a scale of 1 to 100. Overall, Obama received an average grade of 59 and Treasury Secretary Geithner received an average score of 51. Now this begs the question, "who cares what this crowd thinks?" This is a group whose profession failed to see the coming economic disaster for years despite some obvious warnings. Beyond that, these mostly "noted academics" (economists are overwhelmingly academics since most couldn't find a real job) have not offered a single meaningful alternative to the administration's programs.
Who cares what this crowd thinks? This is a group whose profession failed to see the coming economic disaster for years despite some obvious warnings.
Given the track record of economic projections by these "experts" over the years, if they were a Major League baseball team their collective batting averages would guarantee a 160 game losing season. Why anyone would listen to such a collective group of losers (from left to right) is beyond me. And to think the great Bob Woodward was suckered into writing a glowing tome about the self-proclaimed "greatest economic thinker" of the past quarter century -- Alan Greenspan. The Woodward book was titled "Maestro," but "Fraud" or "How I Believed in Santa and an Unregulated Free Market" would have been much more appropriate.
A word to future college students; forget economics courses and try woodworking or auto mechanics. You then might find useful employment. On the other hand, become an economist and learn the real secrets of Three Card Monte. Is it me or do most economists look perpetually depressed? Ah, to have the corner on the Prozac market with this crowd.