Economists don’t have to be right – ever. They just have to say what fits the liberal mindset. Since the proved pedophile John Maynard Keynes told Franklin Roosevelt the way to get America out of the Depression was to make prices so high that no one could afford to buy anything, liberals have used economists to justify their failed policies.
The latest stupid prediction from the Democrats’ useful economists (DuE) fits perfectly into this construct. When faced with a terrible 0.2% GDP growth rate for the first quarter, they told us that “U.S. economic growth braked more sharply than expected in the first quarter as harsh weather dampened consumer spending and energy companies struggling with low prices slashed spending, but there are signs activity is picking up. The growth slowdown is probably not a true reflection of the economy’s health, given the role of temporary factors such as the weather and the ports dispute.” Not a true reflection?
This sounds very familiar.
After a sickly first quarter GDP in 2010, they said: “….but resurgent consumer spending offered evidence of a sustainable recovery, a government report showed on Friday.” It never happened.
After the 2011 Q1 numbers came out, the DuEs said: “The economy is just not that weak. The data shows this is a one-time thing and we’ll get a rebound this quarter.’”
Oh but the economy WAS “just that weak.” The 2011 GDP was just 1.6%!
Having been burned for a few years, the humiliated DuEs responded to the first quarter disaster of 2012 with: “Don’t panic yet. The government reported Friday that the economy got off to a tepid start this year, but that doesn’t foreshadow a repeat of the near-standstill that happened in 2011…. The first-quarter slowdown will be temporary.” The final GDP rate for 2012 was a paltry 2.2%, which certainly was a “near standstill.”
The DuEs were somewhat accurate in 2013 when they counseled against concern about the first quarter’s numbers. The GDP for 2013 thus became the exception that proves that rule.
Last year, the DuEs reverted to form; and they called a 2.1% contraction “unexpected” after one of the worst winters in memory. Things have not gotten better.
So being a liberal economist is a pretty nice gig. All you have to do is forget everything about economics and say what liberals want you to say.
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This post originally appeared on Western Journalism – Equipping You With The Truth