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Another Reason Ezra Klein is an Idiot

D G Wrote: Feb 25, 2013 10:27 AM
You said ...... " ..... investors- who know how to do math better than economists.... " ..... I've worked in both finance and economics and do not agree one field requires more math than the other. Economic forecasters must make assumptions to estimate the economic future. So, selection of assumptions is key. If the assumptions are biased, then ultimately the forecast will be biased. Economists must by objective. Otherwise, they become biased. Perhaps, Erza Klein is an example.

For listeners of my radio show, you’ll know that most Fridays we do a segment called Ezra Klein is an Idiot. We don’t just call out the fallacies of Klein during the segment, however. We include liberals like Al Sharpton and John Boehner too, who both recently bemoaned the effects of sequester on our economy.

Our real problems of course aren’t the dramatic and manufactured small things like sequester or the “fiscal cliff” that are made up by Washington wonks to keep the gravy train rolling. They are much more complex, and more dangerous.     

It takes a...