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juandos said...

Well what I find interesting is that I see a few bumper stickers on veichles of fellow employees saying, "proud of my honor roll student"...

Later on you find out the kid can't deal with simple fractions...

What does it all mean?

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PeakTrader said...

Juandos, sometimes it means you end up with someone like this:

James K. Galbraith earned his BA, magna cum laude, from Harvard in 1974 and Ph.D from Yale in 1981, both in economics. He is the son of renowned economist John Kenneth Galbraith.

Jul 14, 2011

"Galbraith maintains a longstanding view that the U.S. economy needs more fiscal stimulus, i.e. more spending by Uncle Sam on infrastructure and green energy projects that create jobs today and have long-term benefits. (See: We Need a Second Stimulus Immediately, Says James Galbraith)

In addition, the professor recommends President Obama do something "bold" like lowering the retirement age, a seemingly radical plan Galbraith says will address the problems of both high unemployment among younger Americans and older Americans working longer and harder to make ends meet."

My comment: In effect, spend even more money on failed programs (which we don't have anymore anyway), and then retire productive workers (to reduce unemployment), since the failed programs didn't create enough jobs.

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juandos said...

I knew that Galbraith is a Keynesian but his total lack of common sense just floors me...

Dr. Walter Williams - luxury taxes and it downsides.

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PeakTrader said...

Juandos, demand for luxury goods are more sensitive to price changes than normal goods.