The idiocy of Jobkeeper payments, page-64

ok - lets get one thing very clear here ---------

the primary role of an economist is to make people who predict weather look good


that's about all they are really good at ------ basically - they haven't got a clue ------- the world just rumbles along in spite of whatever they say

very often, when govenments or central banks follow the advice of 'economists' or 'economic theory' ------------- it's the wrong thing to do

wow ------------ what news is that - 'professionals' being wrong -

golly - what an unusual thing that would be eh?


ok - here's a test ----------

pick a medical issue ---------- and, pick a legal issue - pick an accounting issue - pick an economic issue

find

10 doctors
10 lawyers
10 accountants
10 economists

here's the question ------- do you think out of each group that you will get one opinion that is shared by all?????????

or are you more likely to get 10 different opinions from each person in each group???


well, I assure you - that the extremely high probability is that you will get 10 different opinions from the people in their group


what can you draw from that?

that at the very very very best --------- 9 will be wrong -

and, quite possibly - all 10 will be wrong


if you want to see the actual results of our folly with thinking that 'professionals' (those 'qualified' to give opinion) are really really smart and 'qualification' should mean 'quality'


visit some stats on misdiagnoses in medicine -------- have a flick through lost cases and unhappy clients in law cases. Perhaps ask a few lawyers questions on law.

see how many accountants miss stuff and have totally the wrong ideas on some matters which are basic to their trade

then - oh wow - wait for it ------------------ save some 'economists' predictions - and come back a year later for a revisit


weather people ----------------- man - in comparison - they are deadly accurate