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NY Times: Trump’s Policies Have Shaken a Once-Solid Economic Outlook
Economic forecasts have deteriorated in recent weeks, reflecting the upheaval from federal layoffs, tariff moves and immigration roundups.
Rebuttal by
- Only in the upside-down insular world of Keynesian / Marxist economic theory -- which holds that all prosperity and all human advancement flow from government manipulation and bureaucratic interference -- are the layoffs of well-paid useless eaters considered a "threat" to the national economy. That's like claiming that the removal of blood-sucking ticks from the asshole of a sick racehorse will weaken the creature and make him run slower. Some typical econofallacy, from the article:
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- "Federal job cuts will push up unemployment, and could lead government employees and contractors to pull back on spending while they wait to learn their fate. And the administration’s push to shrink the federal government, an effort led by Elon Musk, could leave hundreds of thousands of federal workers and government contractors looking for jobs when hiring has slowed. That could set off a chain reaction: Workers who lose jobs, or worry they might, would pull back on spending, which would force businesses to cut costs, leading to more layoffs and further reductions in spending."
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- What is so bloody damn sacrosanct about a position with the Federal government? Why no libtard tears for those of us here in the private sector (the racehorse which supports the parasites) for whom job losses due to firings, downsizing, environmental regulations and off-shored work are standard elements of the vicissitudes (a $10 word for ups-and-downs) of life?
1. The British sodomite John Maynard Keynes is the founding father of the anti-market, pro-big government manipulation economics which has infested the business schools of America and Europe. Keynes' post-World War 2 groupies believe that government spending creates prosperity. // 2. Some of the useless eaters of America's bloated bureaucracy believe that they are entitled to cushy, lay-off-free jobs with automatic pay raises for life. // 3. Legions of blood-sucking ticks digging into a horse's ass. Who needs em?
This idiotic claim about the "threat" to the overall economy (due to layoffs / less government spending) is "supported" by the various pseudo-economists quoted in the article. It represents a textbook example of what the 19th Century French free-market economist Frederic Bastiat described as, "The Broken Window Fallacy.".Forget about ever re-educating the dogmatic econo-eggheads of Academia about basic macro-economics. But methinks "youse guys" would surely appreciate the simple logic behind Bastiat's "Parable of the Broken Window" (From "That Which Is Seen and That Which Is Not Seen"). It's a timeless classic -- very short and sweet too. Here it is:."Have you ever witnessed the anger of the good shopkeeper, James Goodfellow, when his careless son has happened to break a pane of glass? If you have been present at such a scene, you will most assuredly bear witness to the fact that every one of the spectators, were there even thirty of them, by common consent apparently, offered the unfortunate owner this invariable consolation – "It is an ill wind that blows nobody good. Everybody must live, and what would become of the glaziers (glass cutters / installers) if panes of glass were never broken?"
Now, this form of condolence contains an entire theory, which it will be well to show up in this simple case, seeing that it is precisely the same as that which, unhappily, regulates the greater part of our economical institutions.
Suppose it cost six francs to repair the damage, and you say that the accident brings six francs to the glazier's trade – that it encourages that trade to the amount of six francs – I grant it; I have not a word to say against it; you reason justly. The glazier comes, performs his task, receives his six francs, rubs his hands, and, in his heart, blesses the careless child. All this is that which is seen.
But if, on the other hand, you come to the conclusion, as is too often the case, that it is a good thing to break windows, that it causes money to circulate, and that the encouragement of industry in general will be the result of it, you will oblige me to call out, "Stop there! Your theory is confined to that which is seen; it takes no account of that which is not seen."
It is not seen that as our shopkeeper has spent six francs upon one thing, he cannot spend them upon another. It is not seen that if he had not had a window to replace, he would, perhaps, have replaced his old shoes, or added another book to his library. In short, he would have employed his six francs in some way, which this accident has prevented." . . Tell it, Monsieur Bastiat. Tell it! .The lesson is this: Money taken from taxpayers to inject into one sector of the economy deprives another sector of the economy of that same investment. And if the "public" expenditure does not add to the net wealth (GDP), society is actually poorer because of the transfer scheme..Bastiat's clear, concise and passionate writings (The Law, Economic Sophisms, The Man and the Statesman) were penned at a time when more and more French "intellectuals" were becoming smitten with Marxist-style foolishness. His books are essential and understandable reading for free-market / sound currency liberty lovers. It's a damn shame that most of today's economics majors will never be exposed to Bastiat.
Now, this form of condolence contains an entire theory, which it will be well to show up in this simple case, seeing that it is precisely the same as that which, unhappily, regulates the greater part of our economical institutions.
Suppose it cost six francs to repair the damage, and you say that the accident brings six francs to the glazier's trade – that it encourages that trade to the amount of six francs – I grant it; I have not a word to say against it; you reason justly. The glazier comes, performs his task, receives his six francs, rubs his hands, and, in his heart, blesses the careless child. All this is that which is seen.
But if, on the other hand, you come to the conclusion, as is too often the case, that it is a good thing to break windows, that it causes money to circulate, and that the encouragement of industry in general will be the result of it, you will oblige me to call out, "Stop there! Your theory is confined to that which is seen; it takes no account of that which is not seen."
It is not seen that as our shopkeeper has spent six francs upon one thing, he cannot spend them upon another. It is not seen that if he had not had a window to replace, he would, perhaps, have replaced his old shoes, or added another book to his library. In short, he would have employed his six francs in some way, which this accident has prevented." . . Tell it, Monsieur Bastiat. Tell it! .The lesson is this: Money taken from taxpayers to inject into one sector of the economy deprives another sector of the economy of that same investment. And if the "public" expenditure does not add to the net wealth (GDP), society is actually poorer because of the transfer scheme..Bastiat's clear, concise and passionate writings (The Law, Economic Sophisms, The Man and the Statesman) were penned at a time when more and more French "intellectuals" were becoming smitten with Marxist-style foolishness. His books are essential and understandable reading for free-market / sound currency liberty lovers. It's a damn shame that most of today's economics majors will never be exposed to Bastiat.
Boobus Americanus 1: I read in the New York Times today that Trump's shutdown of the government is threatening economic growth.
Boobus Americanus 2: Of course. All those people out of work will have a ripple effect.*St. Sugar: I jusst ran into St. Basstiat in heaven the other day. He ssigned hiss book for me!
Editor: Another brilliant man buried by Fake History and Fake Economics.
Boobus Americanus 2: Of course. All those people out of work will have a ripple effect.*St. Sugar: I jusst ran into St. Basstiat in heaven the other day. He ssigned hiss book for me!
Editor: Another brilliant man buried by Fake History and Fake Economics.
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The Libtard Lie of Federal Layoffs and Recession
RealNewsAndHistory.com/anyt-04-08-25
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