5.27.2010

Economist James Galbraith Senate testimony: Economics a disgraced profession; blind to obvious fraud

Read entire article here:

" "There is nothing about money that cannot be understood by the person of reasonable curiosity, diligence and intelligence.... The study of money, above all other fields in economics, is the one in which complexity is used to disguise the truth, not to reveal it. Most things in life — automobiles, mistresses, cancer — are important principally to those who have them. Money, in contrast, is equally important to those who have it and to those who don't. Both, accordingly, have a concern for understanding it. Both should proceed in the full confidence that they can." – John Kenneth Galbraith, Money: Whence it came, where it went - 1975, p15. Galbraith wrote five best-selling books on economics, was President of the American Economic Association, economics professor at Harvard, and advisor to four US Presidents. James Galbraith is his son."
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Note: The opening paragraph is priceless

1 comment:

  1. Economics is a disgraced profession? OMFG Talk about an understatement!

    How about modern-technological-society is disgraced and -everywhere we look- is coming completely undone?

    The collapse is ongoing.

    RIGHT NOW there are stark-raving-mad pop-gun lunatics contemplating blowing off a nuke in the Gulf of Mexico to try and stop BP's oil leak. JFC! WFM!

    Here's the deal.

    If it works? -If it even works momentarily for a week or so, THIS INSANELY STUPID IDEA WILL BE HERALDED AS A SCIENTIFIC BREAKTHROUGH! Think of the things that can be fixed with a nuke!

    Nope, fuck you. No bomb. It's a loser even if it works.

    And if it fails? -There will be scumbag back-seat scientists, saying it should have been done differently. They will say "success" was pulled off its pinnacle in the ignorant jaws of a too-little defeat.

    Nope again, fuck you. No bomb. One bomb will inevitably invite others. Take your bomb ideas and stuff them up your ass.

    LOOK - IDIOTS-

    This is British Petroleum's problem. They have plenty of money. Tell BP to fix it. Tell BP to spare no expense. Get money from them for the damage already occurring. Tell BP, put money in an account for Americans to draw upon as they need it.

    And BP should spend every fucking penny it has trying to fix this problem. They should be exhausted financially -before the U.S. government gets involved and removes the burden of responsibility for this mess from the slime-balls at BP who fucked-up so god-damned bad.

    If the US Government steps-in, it's just a bail-out of BP. It's no solution. It is just a bail-out.

    If the US government does some fool thing like blow-off a nuclear weapon a mile underwater in the Gulf THIS WILL ABSOLVE BP of its responsibility -thereafter-.

    FUCK YOU, blow off a nuclear weapon in the Gulf.

    Shut down, decommission and remove ALL the offshore oil drilling rigs in American waters -first-, because this bomb idea is not a solution. It is a virtual surrender to an utterly unjustifiable calamity.

    This nuclear option is just more stupidity piling on enough stupidity in the Gulf already.

    AND FUCK YOU BARACK OBAMA -IF THIS IS WHAT YOU AND YOUR SICKENING TEAM OF THIEVES AND HOODLUMS CALL LEADERSHIP YOU GOD-DAMNED HEROIN-ADDICTED-GOON.

    TAKE THE NUCLEAR OPTION OFF THE TABLE, -UNLESS BP SPECIFICALLY REQUEST IT ON THEIR WATCH AND AT THEIR LIABILITY-PERIL.

    BP IS SUPPOSEDLY EXPERT.

    The question here is, who is in favor of absolving BP of its liability? That is going to be the surest effect of any nuclear bombs going off in the Gulf of Mexico if our government proceeds down this fool-road.

    FUCK YOU, BARACK OBAMA, FUCK YOU.

    ReplyDelete

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