Economists were discredited as “useless” at Princeton University Press Conference 10 Oct 2011
“You shouldn’t expect much from us” Macro Economist Chris Sims 2011 Nobel Winner stated.
At a Princeton University news conference, Chris Sims was honest. When asked by a Reuters reporter,
“What’s your take on the US economy”, his honest reply, “You shouldn’t expect much from us”.
If “you shouldn’t expect much from us” - World’s Smartest Macro Economists,
the UK/US/EU Treasuries must stop spending billions of taxpayers money, on self discredited
useless Economists whose advice caused inflation, unemployment, poverty, deficits & debt.
M/Es – Macro Economists have been bamboozling Governments for over 100 years.
M/Es austerity/taxadvice caused hyper inflation, unemployment, national debt, poverty & anarchy.
M/Es austerity/tax advice directly caused the 1929 Great Depression & every Recession since.
Cameron, Osborne & Obama must stop using the austerity/tax advice of useless Economists.
Instead, use the 2-day Collateral Revenue remedy - It Works – See Proof of Five Flourishing Countries.
List of Macro Economists holding top high paid government appointments.
Tim Geithner Secretary of the US Treasury has an M.A. in International Economics
Ben Bernanke Chairman US Federal Reserve is a Princeton Macro Economist!
Mervyn King Governor Bank of England a Princeton economics professor won’t reply to author!
OBR chief advisor to UK Treasury and 3 OBR Macro economists won’t talk to author.
The top economists - 2011 Nobel Prize winners say they haven’t a clue, now lampooned on YouTube !
What benefit did they confer on mankind as stipulated by Alfred Nobel’s will? Answer: None!
A picture speaks a thousand words, a video 10million words. See evidence below.
Watch 2011 Nobel Economists Profs Chris Sims & Tom Sargent news conference.
When Isabelle Kumar - Euronews asked, “What’s your take on US & Euro economic situation?”
“I have no idea!”, honestly answered Chris Sims a 2011 Nobel Economics Prize Winner.
The Nobel prize winners are being lampooned on YouTube by Peter Schiff
& Bunker Bear Cartoons - ”Nobel & all Macro Economists are useless”
Peter Schiff – commentator – Lampoons ” 2011 Nobel Macro Economists”
Current Useless Macro-Economists erroneously believe:-
1. The only source of state revenue is tax - rob workers - VAT, NIC, Income Tax & Corp Tax.
This is as primitive as 1st Century Roman Tax Collection & Ancient Flat Earth Astronomy.
Collateral Revenue supplants/excels income tax revenues 20-fold, and everyone is a winner.
2. Prosperity is growth of GDP – Gross Domestic Product – wrong!
GDP is merely the turnover of a company or country, and definitely not a measure of prosperity.
Proof – In the 1970s turnover peaked for Rolls Royce & Laker Airways. Both went bankrupt.
In 2008 the turnover of RBS – Royal Bank of Scotland exceeded the UK budget. RBS went bankrupt.
True economic growth is growth of GNC – Gross National Collateral – greater GNC means greater prosperty.
3. A 19th century myth – “Inflation is caused by too much money chasing too few goods”, so the best way to
reduce inflation is to cause it, by increasing VAT/Sales Tax, & increasing Income Tax reducing money!
With Collateral Revenue Inflation is instantly abolished by abolishing VAT and all taxes
List of British Ministers with Obsolete, Harmful, Misguided BA Economic Beliefs,
unaware Taxation & Austerity directly cause Inflation, Unemployment, Poverty, Deficit & Debt.
David Cameron – PM – BA Economics (PPE) – Brasenose College, Oxford
Danny Alexander – Chief Secrerary to Treasury – BA Economics (PPE) – St Anne’s, Oxford.
Mark Hoban – Financial Secretary to Treasury – BA Economics degree – LSE
Ed Balls – Shad Chan BA Economics – Oxford/Harvard econ adviser to PM G Brown from 1994
Ed Miliband – Shad PM BA Econ Oxford/LSE, Chair HMT’s Group of Economic Advisers to Chan G Brown
Justine Greening* – ex Economic Secretary to Treasury – BA Economics – Southampton.
*for brilliant achievements, now promoted to Secretary of State for Transport.
How Government money is wasted on economists!
Tenders are put out by Treasury Departments, requesting archive financial statistics.
Results OBR (& Fed) forecasts are always wrong as were ancient astronomers.
Result – Economic Failure – state and the public lose. No prizes for guessing who win!
How Government money is wasted on economic advisers!
Similarly tenders are put out for Economic Advisers to assist politicians at EU conferences.
Virturally no recorded Economic advice given is available for public scrutiny.
Result – Economic Failure – state and the public lose. No prizes for guessing who wins!