Economists. What do they really do?

So what do economists do all day anyway?

They failed to save the world from the credit crunch and subsequent global economic meltdown, and now that there are supposedly some green shoots of recovery springing up, they tease us with hope. The news today is that the latest GDP figures show we have slumped even further into recession, so much so that this is now the worst economic downturn in Britain since the Second World War.

But, look back at the news yesterday. Everyone predicted that the latest numbers would show we are leaving the recession behind. Growth would be weak, but it would be a start on the track.

How can they just keep on getting it so wrong?

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One response to “Economists. What do they really do?

  1. People are stealing from each other. They take out big loans with the promise to pay them back, and thn they never do. People buy a million dollar home with a part time job because they tricked the bank into lending to them when they can’t afford it with uncodumented loans where you only have to state your income but not prove it. Then they get in trouble and cant pay back. They use up all the credit thats available to the whole economy, like parisites.

    I wrote a article about it. We need to bring debtors prisons back.

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