I Told You So - 10 August 2026

Dedicated readers must recall how these missives have excoriated the decline of the econ world over the years, pointing to Samuelson as the (nearly) patient zero of the epidemic. What Samuelson and his followers have done is to re-define macro as just the sum of the micro, with no account for how the Damn Gummint can do favor, or ill, to either the whole economy or corruptly favor (ill) supporters or opponents. One need go no further than Batshit J. Fucking Moron^©Tillerson to see this in action. And, of course, he claims top grades and honors from Wharton, while there is no record of him earning any such. He only spent his last two years there (after only getting into Fordham, easy commuter school in NYC) getting a BBA (or a BS, reports vary) in something (no longer offered) called Real Estate Economics (reports vary as to whether it's explicitly Wharton or just Penn). IOW, he don't know shit from shinola in any kind of serious econ. Although, being a bigly builder (well... once a long time ago), he demands easy money. After all, Other People's Money most always pays the bill.

The contribution of Samuelson et al is said to be more "rigour" in the discipline. But what that really means is that econ is just micro, aka, business unit. The good thing about micro, is that it's data rich (or, should be) since a business has all the records of its activity. Ya don't need no damn lying statistics when you have a population dataset. But that does allow one to concoct all manner of "mathematical models" of business activity. And, of course, it doesn't surprise that the micronauts then make the leap to re-define macro as just aggregate micro.

But, of course, FDR and his cabal did understand that the Damn Gummint can be a significant economic actor, for both good and ill. Ill, mostly, means inflation, but can also mean tipping the scale for and against the blessed and the cursed; as seen by the Damn Gummint. And now we have it codified by The Gang of Six^© that POTUS is the Damn Gummnit, ya know Fascist Dictator. What could possibly go wrong? Well... the specter of a Guns n Butter great recession is coming toward front of mind for the Bond Vigilantes.

Well... just as Batshit J. Fucking Moron^©Tillerson denies elections can be fair and accurate, when he or his lose, the fact that most macro data is survey sample based is the opportunity to deny that any macro decision need be based on data which is obviously manipulated by communists. It's all fake, anyway. It's simpler and better to just reward my benefactors and jail my opponents; just like Marcos and the like. We'll win no matter what the data ends up saying. And, if it says the whole exercise was bogus, there's always Fake News to shoulder the blame. Bari will see to it.

Now we get some views from a Harvard econ prof (which Batshit J. Fucking Moron^©Tillerson never could be) that Warsh is up to his ass in shit. Well... he doesn't really say "shit". But that's clearly what he means.

Consider the call for better data. Mr. Warsh correctly notes that the nation's existing data architecture could be improved. What stands today relies largely on household and business surveys that face declining response rates, and it takes time to collect and process them.

Do you really think that Batshit J. Fucking Moron^©Tillerson would welcome better data??? In a pig's eye, he would.