Economics is Hard

Many of you, I’m sure, are fascinated by economic theory. Whether it’s from the Austrian School, Chicago School, or even Marxist thought, we in the liberty movement tend to take economics very seriously and our predictions, theories, and discussions do not come lightly.

But in case you thought your studies and writings meant something, I’m sorry — but you’re wrong.

…at least according to the newest working study put out by the Federal Reserve of Richmond. In a paper titled “Economics is Hard. Don’t Let Bloggers Tell You Otherwise,” (and no I’m not kidding), Fed Economist Kartik Athreya with a hubris that should make even the most ardent narcissist blush declares — basically — that THE FED IS GOD AND ANY OTHER IDEAS ARE JUST POPPYCOCK. Check it out here at Zero and please try not to spit your drink on your screen and ruin your monitor.

Or maybe thats the Fed’s new stimulus plan?

The best part is at the bottom, where he states that a study, being paid for by the Fed does “…not necessarily represent those of the Federal Reserve Bank of Richmond,or Federal Reserve System.” They just thought it would be fun to spend our funny money on it.

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