So very true. Thank you for writing this. I don't know how these "economists" like Paul Krugman get away with shoveling a steaming pile of s--- into the national conversation after their economic school has been discredited in every generation since its birth. Reason and the scientific method have nothing to do with anything he does. With him and the Keynesian cult followers, it's all one big conceptual shell game. The understanding and the outrage found in this column ought to be widespread throughout the public to prevent these witch doctors from "experimenting" in their alchemy at our expense.

Ayn Rand wrote a very interesting essay about the mentalities and interactions of the "experts" and the rulers. It was called "Attila and the Witch Doctor" and it was in Return of the Primitive: The Anti-Industrial Revolution.

You know, you could re-use this article and substitute "climate change expert" for "economist" and it would be pretty accurate too.

What makes this different from astrology?

Astrology has a set of well known standards that have been handed down from generation to generation for thousands of years and have been demonstrated to work in plays by the Bard.

Just to let you know, economics is not a science. It is a social science where one studies the production, distribution and consumption of goods and services. In societies things change. Societal changes often happen faster than capitalists and government care to notice. When you have extra greedy capitalists and extra neglegent government leaders (Presidents who dont read newspapers), the negative economic impact can be severe. Just check your 401K, or have your home appraised.

For the last few years capitalists and President Bush have ignored the macroeconomic evidence that the American public could not afford their own life style. When the macroeconomic evidence of nationwide foreclosures were frontpage headlines on every newspaper in the nation over a year ago, the federal government and capitalists sat on their hands and ignored it and look what happend.

When Macroeconomic principles are ignored, microeconomic principles can not be put into place.

Thanks. I loved it.

Oh, I see Mr. Frezza isn't a journalist but a capital manager. One of the crowd that brought us CDOs, mortgage backed securities, impenetrable exotic derivatives, and ultimately a financial crisis. Good work, Mr. Frezza. You sure are in a good position to ridicule economists, aren't you?

Thanks for writing this. This is the first time ever i have read such a truthful description of what macroeconomics really is.

There are 2 kinds of economists.

1. There are the ones who look at the characteristics of the economy and make predictions. They practice a less than perfect science and human irrationality makes their jobs difficult, as do the efforts of type 2 economists.

2. These folks are salespeople. They come up with predictions that best fit their desired outcomes, and sometimes go as far as cherry picking characteristics of the economy to support their 'predictions.' They're evil.

Spot on piece.

Recently read a piece that comes from a similar perspective on the current economic crisis and the bailout: [social.consimworld.com]

Strange place, but good article.