July 03, 2003

When will economists admit that Keynesian economics is a fraud? Keynes + the kitchen sink -- and all we get is more bad economic news, even as the economists keep forecasting good economics news, based on the failed and utterly unscientific "models" of Keynesian economics. It's time to call them what they are -- witch doctors, not social scientists. But here and there, you find glimmers of common sense and sound reasoning -- when the economists abandon their witch doctors reliance on the astrology of Keynes:

"Business spending is the Achilles heel of the economy," said Sung Won Sohn, chief economist at Wells Fargo & Co. "The economic baton needs to pass from consumers to businesses."
Posted by Greg Ransom