Gwen Snyder is uncivilCan we please, for the love of God, finally admit that mainstream economists are just astrologists for Wall Street bros
https://www.nytimes.com/2023/07/11/opinion/us-recession-yield-curve.html
Woozle Hypertwin@gwensnyder ...where "mainstream" in this context can be inferred to require "acceptable to the ruling class".
your auntifa liza 🇵🇷 🦛 🦦relevant to your interests, from the founder of the blog Naked Capitalism.
she’s been railing against the financialization of economics since for ever. it’s why i dropped out of economics at NYU. couldn't believe there were fully tenured professors deadass serious dismissing not just labor, but all work, as inconsequential to the reason the fucking word was even coined. i felt like i was taking crazy pills in those classes.
Cian O'ConnorAh economics. A field that decided the real world was too complex, so instead it created a fake world and decided to study that instead.
Totally normal field that everyone should take seriously.
Sphinx of Black QuartzAlways hilarious to hear economists attempting to defend "praxeology."
There's a pretty funny study that found that the only people who behave like homo-economicus are trained economists.
Turns out that that it takes an expensive graduate school education to create a 'rational economic agent'.
Nicole ParsonsRepublican billionaire donors spent a year trying to wish cast a recession into existence.
For a year, over a dozen billionaires spent time doomcrying on business news hoping to orchestrate a timely 2024 recession.
Hedge fund managers, like Chris Hohn & Google, even ordered profitable companies to do mass layoffs in hopes they could trigger a contagious recession.
These gambits to destabilize democracy for self-enrichment all failed.
Joshua A.C. Newman@Npars01 @gwensnyder Peter Thiel was of course vocally supportive and crashed a bank deliberately.
From the article:
"faced with high inflation, the Fed sharply hiked interest rates, causing a recession; this recession brought inflation down"
I will never stop beating this drum: When economists worry aloud about inflation more than unemployment, they're saying "Let's screw labor even harder, to make the mega-rich even richer!"
Nick's world@lisamelton @gwensnyder you're not wrong. economy in itself is a form of Divination, if you really take a look at it.
spherulitic@gwensnyder astrology became astronomy. Alchemy became chemistry. We’re still waiting to see what develops from economics.
Eva Chanda
William Hughes"The only function of economic forecasting is to make astrology look respectable."
Joe ❌👑@gwensnyder Paul Samuelson: "Economists have predicted nine out of the last five recessions."
Óscar Morales Vivó@gwensnyder I’m sure there’s hard headed folks trying to study economics as they exist in reality, but there’s a lot more money, tenured positions and cameras pointing to whoever tells extremely rich people what they want to hear.
SaftyKumaOf course. But they largely don't have a seat at the table anymore. Instead we have Chicago school wonks.
@gwensnyder Capital Gains Tax at 50% is a joke. It should be above 100%.
Sohcahtoa82@gwensnyder Economics is science, but economists are pseudoscientists.
They're all going to say what they think they have to say to get richer. They'll dump their stocks, start making lots of noise about doom and gloom, and after the stocks crash, they'll rebuy, then start talking about how we're in a recovery.
Economists are nothing more than market manipulators in plain sight.
Alan Trapulionis@gwensnyder I've had a wonderful economics teacher. I don't think we've ever touched a textbook, and we were explicitly discouraged from doing so. Instead, we just had a bunch of very interesting conversations about the world, the people in it, and how it's all tied together.
I've never heard a 'mainstream economist' even attempt that level of analysis. They really just.. say things. And trust me, they exist well outside of Wall St. as well lmao.
Peter Principle@gwensnyder The profession even has a name for it: "brokerage economics.""
But of course, it's always OTHER economists who are practicing it.
Topslakr@gwensnyder @chartier That’s not fair…
Astrology is based on the demonstrable location of planets and stars. Sure, it goes totally off the rails from there.. but it starts with _something_. 🤪
Claude Rains@gwensnyder Wall St Bros =, or ≠, Crypto Bros? Because the Dead Birdsite Crypto Bros seem to consistently be the Most High on Their Own Supply.
Also, Hedgefund: Wall St Bros, Crypto Bro, or simply (R) Sock Puppet?
Antonio Páez 🇲🇽🇨🇦"By fetishising mathematical models, economists turned economics into a highly paid pseudoscience"
https://aeon.co/essays/how-economists-rode-maths-to-become-our-era-s-astrologers
Asiny@gwensnyder hahahaha
Anatisadalia 🐞🌺