The Economist's Cookbook

Recipes For A More Free Society

  • "The curious task of economics is to demonstrate to men how little they know about what they imagine they can design."

    - F.A. Hayek

Who The Hell Are These Guys?!

Posted by The_Chef On 11:26 PM 1 comments

So in a discussion on an automotive forum about the AZ bill that's gotten so much brouhaha someone pulled out a link to these guys:

The article was lambasting the birth of children of "illegals" in this country.

Their "data", which is more of just rough estimates and napkin math (Not that there is anything WRONG with napkin math), suggest that the "cost to America" of all the babies born to "illegal" mothers is $6 Billion USD.

So I ran some rough napkin math of my own:
US GDP = $14,600,000,000,000 (14.6 trillion)
Illegal Babies = $6,000,000,000 (Allegedly! there are no data sets included in the article as to the actual cost. So in reality they are simply making assumptions that may or may not be supported by any sort of actual economic data. The numbers are all vague and variable.)

So aside form the fact that the data set is nonexistent, and the "cost of this is so fucking high ZOMG!" hmmmmm.
6/14,600 = 0.0004% of GDP...

Cry me a river. And THAT number assumes that their claim of data is actually RIGHT!

And while I know this is an ad hominem attack I can't help but point this out:

Their moron Editor Cliff Kincaid clearly has NO CLUE how Hedge Funds work. And essentially claims that they are profiting off of misery and encouraging economic collapse in Europe and America. Yeah this guy on the right. He clearly doesn't understand the signaling mechanism that Short Selling provides in the market, nor does he support a truly free market if he wants to get rid of Shorting. I bet he is willing to scream over the housing price/derivative/whatever debacle but does he know that the people that saw it coming first were the short sellers that signaled the market that prices were severely inflated? Bubbles pop and often the short sellers are the ones who see it coming.

Personally, I find this site about as intellectually relevant as Sean Hannity. That is to say: It's not. I don't know who these people are and how they got here ... but ... crawl back to your Republican supporters and leave the actual policy analysis to people that 1.) actually care about the concept of Liberty and 2.) have a clue what economics is.

These are the enemies on the Right. We have plenty of enemies on both sides of the party line. These people are just indicative of the typical chest thumping, wrap themselves in the flag, bullshit shoveling, fear mongering Right Wing stereotype.

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1 Response for the "Who The Hell Are These Guys?!"

  1. It's also convenient to only look at one side of the ledger, the costs, and ignore the benefits. That's like if I only consider how much the food I eat "costs" me, and ignore the benefits I gain by eating it. I might decide to never eat again in that case. But it would be stupid and self destructive of me to make that decision.