From an Iranian to an American Nobel Prize Economist

Hamid Varzi

I simply love it when U.S. economists talk down the Euro, as they have been doing since its inception. Even funnier is the justification that Euroland cooks its books, as if the U.S. Treasury doesn't!

Mr. Krugman, would you care to comment on the 'birth/death' rate, or even the omission of U-7 to U-9 unemployment, that the BLS uses to artificially lower its unemployment 'statistics'? Or about the Federal Reserve purchase of over a quarter of auctioned TBills, under the hilarious category of 'household purchases', to create the false impression that foreigners are still lapping up U.S. debt? Or the U.S. Government's discarding of accounting principles in pegging the U.S. National Debt at around $ 14 trillion when its unfunded liabilities are over $ 50 trillion?

Mr. Krugman, you and other U.S. economists do your nation a gross disservice by constantly 'talking up' your economy at the expense of other economies that have massive trade surpluses, better education, better healthcare, lower crime, far more civil societies and a far lower foreign debt than the U.S.A.. You won't encourage improvement unless and until you start injecting doses of realism into your analyses.

No comments:

Blog Archive