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economic wizards

Top of the news to you.
Idaho, U.S. unemployment jumps again
Economists say employment will rebound eventually, but it could take a year or more.

Well those economists are on safe ground there. It sure as heck will take more than a year, but they covered that bet safely. Still safe, but even more misleading is the Economics Department Chairman quoted later in the article.

It is all well and good that the government and government-school experts leave the people feeling good about today. We certainly wouldn’t want to frighten them into saving whatever is left of their money or increasing their food storage instead of putting presents under their Christmas trees. Nah, far better to deal with those issues when there are only two choices: deal or drop out.

What I really want a few months down the road is for these people to publicly face their expert opinions. I want them to bet their professional careers on the accuracy of their economic predictions. I want them to elect me Chairman of the BSU Economics Department if I prove my grasp of economics exceeds that of their best and brightest. With a little help from Mises and Cato, I could make an education in that department actually be worth something.

Today’s news article goes on with more Pollyanna economics…

Some good news awaits despite the dismal Idaho and national unemployment rates that rose again in November.

Unemployment is linked to a more-treacherous-than-usual business cycle, but the downturn is only temporary, some local economists say.

“These jobs aren’t going to go away forever,” said Don Holley, Boise State University economics department chairman. “The national economy always recovers.”

Yep, it did in 1940 too… after the socialists gave up on their response to the downturn of 1929.