Mainstream Versus Alternative Economists
Alternative economists are right more often than mainstream economists.
Alternative economists are less likely to be paid off by corporates/government than mainstream economists.
And alternative economists use far more common sense in their analysis, rather than fancy algorithmic models that often turn out completely wrong because of incomprehensible assumptions.
So why do many believe alternative economists preach only conspiracy theories?
Simple. Because the mainstream economists just steal our “conspiracy theories” later on when it is convenient. Which makes them seem correct to the grey masses.
The mainstream economists always come around eventually. But when they do, they steal our stuff. And claim it as their own. Typical “experts“.
I was yelling about inflation back in 2020 and 2021. The Fed responded by saying it was going to be transitory, and I was a conspiracy theorist. You all have been to the grocery store; you know which was correct. But now the Fed and mainstream economists have the audacity to claim they knew this was going to happen. Unbelievable.
They’re even coming around now and claiming we might—just maybe—have some economic issues in the near future regarding BRICS/Reserve Currency:
IMF issues grim warning about global economy
The world is at risk of splitting into rival economic blocs, Kristalina Georgieva believes
The managing director of the International Monetary Fund (IMF) has warned that the world is on the edge of geo-economic fragmentation, which she believes could add more “cold water” to already anemic global growth.
Speaking by video-link at the Brussels Economic Forum on Wednesday, Kristalina Georgieva called for cooperation at a time when growth across the globe is extremely weak by historical standards.
“After decades of increasing global integration, there is a growing risk that the world may split into rival economic blocs,” the IMF chief said. “And that’s a scenario that would be bad for everyone, including for people in Europe.”
You know, the same stuff we’ve been saying for years. The thing that’s been regarded as a conspiracy theory for years.
Who would have thought?
I think Brandon Smith nailed it in an article he wrote last month:
Establishment Economists Are Finally Realizing It’s Time To Pay The Piper
The one thing about the financial world that never ceases to amaze me is how far behind the curve mainstream economists always seem to be. Not long ago we had Janet Yellen and Paul Krugman, economists supposedly at the front of the pack, both proving to be utterly ignorant (or strategically dishonest) on the effects of central bank stimulus measures and the threat of inflation. In fact, they both consistently denied such a threat existed until they were crushed by the evidence.
In the meantime, alternative economists keep hitting the target with our observations and predictions, but we’ll never get job offers from establishment publications because they’re not looking for people who are right, they’re looking for people that toe the line.
And so it goes. I look forward to the fast approaching day when all of these guys (and girls) proclaim frantically that “no one saw this crisis coming.” After things get even worse, they’ll all come out and say they actually “saw the crisis coming and tried to warn us.”
The hope is not so much to get credit where credit is due (because that’s not going to happen), but to wake up as many people who will listen as possible to the dangers ahead, and maybe save a few lives or inspire a few rebels in the process.
The latest US bank failures seem to be ringing their bell the past couple of months, that’s for sure. In a survey managed by the World Economic Forum, over 80% of chief economists now say that central banks “face a trade-off between managing inflation and maintaining financial sector stability.” They now warn that price pressures look likely to remain higher for longer and they predict a prolonged period of higher interest rates that will expose further frailties in the banking sector, potentially compromising the capacity of central banks to rein in inflation. This is a HUGE reversal from their original message of a magical soft landing.
Imagine that. The very thing alternative economists including myself have been “ranting” about for years, the very thing they used to say was “conspiracy theory” or Chicken Little doom mongering, is now accepted as fact by a majority of surveyed economists.
It’s a great short article. Make sure to give it a read.
Most important is this part:
- [The day is approaching] when all of these guys (and girls) proclaim frantically that “no one saw this crisis coming.” After things get even worse, they’ll all come out and say they actually “saw the crisis coming and tried to warn us.”
Yep. Nailed it. This is exactly what the mainstream economists do every single time.
The mainstream economist cycle is clear:
- Denounce the coming crisis as a conspiracy theory.
- Crisis occurs.
- Proclaim there is no way anyone could have possibly known about the crisis beforehand.
- Claim they knew about the crisis beforehand, but no one listened to them.
Look at what they did in the past to know what they will do in the future. It’s not like they change tactics.
Our markets are irrational. Just like our mainstream economists.
I encourage you to spend more time reading alternative economists over the mainstream versions. Simply because the mainstream ones are always following in our footsteps.
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