The Economic Illiterate Talking Point for when the Economy Bounces Back

[Oddball]

I can hear it now....The nose picking economic ignoramuses in academe and the media will say; "the riots brought the economy back because of all the economic activity spurred on from rebuilding!"

This is pure, unadulterated, unvarnished, bullshit....Don't fall for it....Watch and learn...

 

[Synthaholic]

So, you’re celebrating 40 million unemployed and trillions added to the debt as good economic news?

 

[Polishprince]

So, you’re celebrating 40 million unemployed and trillions added to the debt as good economic news?

The good economic news is the fact that the unemployment rate is far less that predicted, Trump created 2.5 million jobs in a single month, and the stock markets are moving up aggressively showing the tremendous optimism that participants in America have for Trumponomics.

 

[Oddball]

So, you’re celebrating 40 million unemployed and trillions added to the debt as good economic news?

Red herring, completely beside the point being made.

 

[Synthaholic]

The point you’re desperately grasping for is that there has been a slight uptick in the economy. Well, it couldn’t have gone down much more under Trump, could it? Maybe he could have hit 50 million unemployed? Possibly. And then you would dance when he got it down to 47.5 million.

 

[boedicca]

Properly educated people should be familiar with Bastiat's "Parable of the Broken Window":

Have you ever witnessed the anger of the good shopkeeper, James B., when his careless son happened to break a square 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 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.

Parable of the broken window - Mises Wiki, the global repository of classical-liberal thought

wiki.mises.org

 

[boedicca]

The point you’re desperately grasping for is that there has been a slight uptick in the economy. Well, it couldn’t have gone down much more under Trump, could it? Maybe he could have hit 50 million unemployed? Possibly. And then you would dance when he got it down to 47.5 million.

^^^ Diagnosis: Terminal Projection ^^^

 

[Moonglow]

I can hear it now....The nose picking economic ignoramuses in academe and the media will say; "the riots brought the economy back because of all the economic activity spurred on from rebuilding!"

This is pure, unadulterated, unvarnished, bullshit....Don't fall for it....Watch and learn...

That and 7 trillion dollars for capitalist to live on.

 

[Oddball]

Properly educated people should be familiar with Bastiat's "Parable of the Broken Window":

Have you ever witnessed the anger of the good shopkeeper, James B., when his careless son happened to break a square 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 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.

Parable of the broken window - Mises Wiki, the global repository of classical-liberal thought

wiki.mises.org

The crackpots like visible beneficiaries and invisible casualties.

 

[Oddball]

I can hear it now....The nose picking economic ignoramuses in academe and the media will say; "the riots brought the economy back because of all the economic activity spurred on from rebuilding!"

This is pure, unadulterated, unvarnished, bullshit....Don't fall for it....Watch and learn...

That and 7 trillion dollars for capitalist to live on.

Entirely beside the point, ignoramus.

 

[boedicca]

Properly educated people should be familiar with Bastiat's "Parable of the Broken Window":

Have you ever witnessed the anger of the good shopkeeper, James B., when his careless son happened to break a square 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 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.

Parable of the broken window - Mises Wiki, the global repository of classical-liberal thought

wiki.mises.org

The crackpots like visible beneficiaries and invisible casualties.

But mostly, the opportunities for graft....

 

[Moonglow]

I can hear it now....The nose picking economic ignoramuses in academe and the media will say; "the riots brought the economy back because of all the economic activity spurred on from rebuilding!"

This is pure, unadulterated, unvarnished, bullshit....Don't fall for it....Watch and learn...

That and 7 trillion dollars for capitalist to live on.

Entirely beside the point, ignoramus.

Yeah, just because you say so, hardly the case for economics, just think what the economy would look like without 7 trillion in state capitalism, since capitalist live on other people's money to exist.

 

[Marion Morrison]

I can hear it now....The nose picking economic ignoramuses in academe and the media will say; "the riots brought the economy back because of all the economic activity spurred on from rebuilding!"

This is pure, unadulterated, unvarnished, bullshit....Don't fall for it....Watch and learn...

That and 7 trillion dollars for capitalist to live on.

Entirely beside the point, ignoramus.

Yeah, just because you say so, hardly the case for economics, just think what the economy would look like without 7 trillion in state capitalism, since capitalist live on other people's money to exist.

You mean crony capitalists and grafty government.

 

[Moonglow]

I can hear it now....The nose picking economic ignoramuses in academe and the media will say; "the riots brought the economy back because of all the economic activity spurred on from rebuilding!"

This is pure, unadulterated, unvarnished, bullshit....Don't fall for it....Watch and learn...

That and 7 trillion dollars for capitalist to live on.

Entirely beside the point, ignoramus.

Yeah, just because you say so, hardly the case for economics, just think what the economy would look like without 7 trillion in state capitalism, since capitalist live on other people's money to exist.

You mean crony capitalists and grafty government.

Nope, state capitalism.

 

[Marion Morrison]

I can hear it now....The nose picking economic ignoramuses in academe and the media will say; "the riots brought the economy back because of all the economic activity spurred on from rebuilding!"

This is pure, unadulterated, unvarnished, bullshit....Don't fall for it....Watch and learn...

That and 7 trillion dollars for capitalist to live on.

Entirely beside the point, ignoramus.

Yeah, just because you say so, hardly the case for economics, just think what the economy would look like without 7 trillion in state capitalism, since capitalist live on other people's money to exist.

You mean crony capitalists and grafty government.

Nope, state capitalism.

I say potato, you say potahto.

 

[EdwardBaiamonte]

That and 7 trillion dollars for capitalist to live on.

Do you have a better monetary policy in mind????

 

[georgephillip]

I can hear it now....The nose picking economic ignoramuses in academe and the media will say; "the riots brought the economy back because of all the economic activity spurred on from rebuilding!"

This is pure, unadulterated, unvarnished, bullshit....Don't fall for it....Watch and learn...

Imagine: Global governments are attempting to prop up another massive failure of capitalism by throwing money at rich individuals and corporations, especially in the financial sector. IOW, it is business as usual.

Who is ignorant enough to believe rich people always need more money?

"JUNE 19, 2020
The Political Economy of Covid-19
by PETE DOLACK "

 

[Toddsterpatriot]

I can hear it now....The nose picking economic ignoramuses in academe and the media will say; "the riots brought the economy back because of all the economic activity spurred on from rebuilding!"

This is pure, unadulterated, unvarnished, bullshit....Don't fall for it....Watch and learn...

Imagine: Global governments are attempting to prop up another massive failure of capitalism by throwing money at rich individuals and corporations, especially in the financial sector. IOW, it is business as usual.

Who is ignorant enough to believe rich people always need more money?

"JUNE 19, 2020
The Political Economy of Covid-19
by PETE DOLACK "

Global governments are attempting to prop up another massive failure of capitalism by throwing money at rich individuals and corporations,

That's outrageous!!!

Global governments should only attempt to prop up massive failures of communism.

 

[georgephillip]

That's outrageous!!!

Global governments should only attempt to prop up massive failures of communism.

Global governments should prop up productive labor and hang all speculators:

A Tale of Two Rescue Plans

"Compared with the unprecedented rise in unemployment in the United States, countries like Germany seem to be faring extremely well, though the latest official data—an unemployment rate of about 5.1 percent—predates the economic dislocation from the crisis.

"To get an idea of the difference between German and U.S. labor market convulsions, one top German economist warned that unemployment could 'skyrocket' to 5.9 percent this year due to the economic paralysis.

"The U.S. unemployment rate is already approaching 20 percent."

 

[Toddsterpatriot]

Global governments should prop up productive labor and hang all speculators:

I get it, you've never been able to save enough money to buy any stock.

Now you're old and broke, living off a pittance of Social Security.

You failed, just like every single Marxist economy.