Showing posts with label economists. Show all posts
Showing posts with label economists. Show all posts

Wednesday, November 02, 2016

370 economists come forward to urge Americans NOT to vote for Donald Trump.

C'mon who are you gonna believe, a bunch of experts or me?"
Courtesy of CNN Money: 

A letter signed by 370 economists, some whom have won the Nobel Prize in economics, urged voters not to vote for Trump. 

"His statements reveal a deep ignorance of economics and an inability to listen to credible experts," the letter reads. The Wall Street Journal first reported on the letter, which was signed almost entirely by college professors. 

The economists did not endorse Hillary Clinton, but recommended that would-be Trump voters "choose a different candidate." 

They argue that Trump has deeply misled Americans on trade, manufacturing, immigration and public institutions critical to the credibility of the economy, such as the Bureau of Labor Statistics, which keeps track of how many jobs the economy creates and publishes a widely-watched monthly report.

Many times on TV I see these Trump surrogates claiming that they want to talk about the issues instead of the newest greatest scandal (Unless it has to do with Hillary's e-mails of course.) and I always think "Yeah, let's talk about the issues."

Because there is NO way that the Trump campaign can argue the issues with Hillary Clinton.

Nor would they want to.

The entire Trump campaign is driven by feelings, not facts.

And those feelings are that the country has fundamentally changed in such a way as to shift power away from the white Christian men who have run the country since its founding, and handed it to women, minorities, and non-Christians.

THAT is what drives their passion, THAT is what keeps them up at night, and THAT is why this article will not mean diddly squat to them.

Anybody who believes they are are supporting Donald Trump because of his stand on the issues, is either lying to themselves, lying to others, or too brain damaged to tie their shoes without referring to the manual. (By the way if you just thought "Wait. there's a manual?" you know where you fall on this list.)

Wednesday, February 17, 2016

Former economic advisers sign open letter to Bernie Sanders claiming the promises made by his policies are unrealistic.

Courtesy of Letters to Sanders:

Dear Senator Sanders and Professor Gerald Friedman, 

We are former Chairs of the Council of Economic Advisers for Presidents Barack Obama and Bill Clinton. For many years, we have worked to make the Democratic Party the party of evidence-based economic policy. When Republicans have proposed large tax cuts for the wealthy and asserted that those tax cuts would pay for themselves, for example, we have shown that the economic facts do not support these fantastical claims. We have applied the same rigor to proposals by Democrats, and worked to ensure that forecasts of the effects of proposed economic policies, from investment in infrastructure, to education and training, to health care reforms, are grounded in economic evidence. Largely as a result of efforts like these, the Democratic party has rightfully earned a reputation for responsibly estimating the effects of economic policies. 

We are concerned to see the Sanders campaign citing extreme claims by Gerald Friedman about the effect of Senator Sanders’s economic plan—claims that cannot be supported by the economic evidence. Friedman asserts that your plan will have huge beneficial impacts on growth rates, income and employment that exceed even the most grandiose predictions by Republicans about the impact of their tax cut proposals. 

As much as we wish it were so, no credible economic research supports economic impacts of these magnitudes. Making such promises runs against our party’s best traditions of evidence-based policy making and undermines our reputation as the party of responsible arithmetic. These claims undermine the credibility of the progressive economic agenda and make it that much more difficult to challenge the unrealistic claims made by Republican candidates. 

Sincerely, 

Alan Krueger, Princeton University 

Chair, Council of Economic Advisers, 2011-2013 

Austan Goolsbee, University of Chicago Booth School 

Chair, Council of Economic Advisers, 2010-2011 

Christina Romer, University of California at Berkeley 

Chair, Council of Economic Advisers, 2009-2010 

Laura D’Andrea Tyson, University of California at Berkeley Haas School of Business 

Chair, Council of Economic Advisers, 1993-1995

It should be noted that even though these are economic advisers from Democratic administrations supporters of Bernie Sanders might simply dismiss them as Hilary supporters and ignore entirely any advice they may provide.

But should they?

Beats me, I'm no economist.

However Paul Krugman is one, and he had this to say: 

Sanders needs to disassociate himself from this kind of fantasy economics right now. If his campaign responds instead by lashing out — well, a campaign that treats Alan Krueger, Christy Romer, and Laura Tyson as right-wing enemies is well on its way to making Donald Trump president.

Essentially almost every problem that Bernie Sanders sees he believes can be solved through more jobs, a better economy, and taxing the wealthy.

If top Democratic economists pile on him like this that is going to seriously undercut his message, and potentially damage his credibility.

P.S. Before we begin to discuss this remember no hair pulling, eye gouging, or biting. Okay?