To prove the stupidity of economists look no further than an economists who thinks they can predict with certainty the future of social security beyond 15 years. It is a simple result of counting periodic things.
Social security is something that happens with regularity every 30-35 years, the work period before retirement. Sample data theory tells us, with absolute certainty, that periodic events happening over 30-35 years are only periodic to the extent that the data is resampled every 15 years. That is, social security is stable only when we update the ins and outs about every 15 years. The updates need only be a few points one way or the other. But if the updates are not done periodically then social security is not a periodic event, and is thus unstable.
We see economists always make predictions that are simply impossible, and thus these stupid economists actually make social security unstable.
No comments:
Post a Comment