The Classic Liberal Blog

Okay, so Christina Aguilera isn't really wondering about economists, but I often wonder why people listen to them ... Besides, it's RULE 5 SATURDAY!

How to Get a Million Hits on Your Blog in Less Than a Year!

The Daley Gator reports on the Raelian Topless Protestest Movement with Boob Revolt! Jeffords claims he's "not the hippest of souls," but I have to disagree. Proof? Check out his post on Padma Lakshmi, then Geri Halliwell in a Bikini, and Jennifer Aniston too!

Elle Macpherson flees high taxes. Jessica Biel - the most dangerous celebrity on the inner-tubes. And Troglopundit's favorite Miss Universe ever!

In reference to the many health care protests, Bob at TCOTS says, "For an old cranky conservative like me who believes all governments are not to be trusted, it has been a joy to watch them." Pure wisdom (and Michele Bachmann too)! And the Washington Rebel has a special For Our Gator Friend!

Christina María Aguilera (36-21-33) is an American pop singer,songwriter, and producer. She signed with RCA Records after recording "Reflection" for the film Mulan. She came to prominence following her debut album Christina Aguilera (1999), which was a critical and commercial success.

Christina Aguilera was born in Staten Island, New York City, New York, to Fausto Wagner Xavier Aguilera, a Sergeant in the U.S. Army at the time and Shelly Loraine Fidler, a Spanish teacher. Aguilera's father was born in Guayaquil, Ecuador, while her mother is of Irish descent (Christina's maternal grandmother emigrated from County Clare).

In an upcoming movie release, Mila Kunis and Natalie Portman will ... just click and find out. From radical evil to farce in two generations. Check out these Patriotic Hotties! Don't miss Miss Universe: A Retrospective. And Liv Tyler is looking to launch ...

Why Are We Still Talking to Economists?

Nothing is more irritating for an apprentice of economy than listening to men in attractive suits waxing on about their market-awareness. Even more irritating than these CNBC-type quacks is their army of head-bobbers diligently accepting their prattle.

Yet, is this truly it? Is this the best our intelligentsia has to offer? A cornucopia of Rich-Dad-Poor-Dad books trailing repeated episodes of Jim Cramer’s Mad-Yelling!

WARNING: Tropical Storm Dannii hitting the shores of Wyblog. Wow! Is that love I'm feelin'?

The TCOTS Rule 5 Compliance Committee voted unanimously in favor of YVONNE CRAIG and, well, let's just say somebody really thinks ANITA EKBERG is hot! I must agree. Nice art work onboard the SS John W. Brown, an operational World War II Liberty Ship. And the Gorgeous Marilyn Maxwell sings, “One Girl and Two Boys.” Striptease 2: Nancy Sinatra!

It’s not enough to quote another survey relating rates of returns between portfolio managers and monkeys throwing darts…though, these humiliations are still fun to indulge. Yet, who are these charlatans and where did they get such amazing foresight? The answer is simple really, these actors are pawning to you yesterdays news from behind the veil of their crystal ball.

Though you may not speak the jargon of your financial heroes, their jargoned forecasting is probably only marginally better than your own forecasting. Similarly their complicated models for predicting asset prices or unemployment rates are most likely only marginally better than your own model. This is of course not to suggest that the asset prices are random, or detached from the inter-connectivity of human action. It simply suggests that comprehensive marketplace predicting is dismal at best and thus the wrong is in the question, not person. This exact inter-connectivity of human action is what places economic variables in the realm of "Extremistan" – highly subjected to outliers.

So what good is economics if it is unable to forecast? And more importantly, why are we still listening to economists?

Twittering while drunk? The Battle of the Babes: Carly Zucker vs. Daniella Sarahyba! "Two reasons, one because I like women in bikinis, and 2, I feel safer when I know there's no place for them to hid any weapons." Hold the phone ... we have a rematch!

This is where economics goes defunct! Economics rests on basic fundamental a priori principles of self-interest. Economics cannot tell us what the unemployment is, was or will be! It can merely tell us that individuals will pursue employment of their labor when the exchange of that labor for other goods is beneficial. Moreover, economics can tell us that if you increase taxes on labor, you have inadvertently changed the ratio of exchange. Labor is thus less beneficial when the fruits of its undertaking are eroded by taxation. Similarly, economics can tell us that if you pay someone to leisure, there is less incentive to labor. Thus, economics can predict such effects with accuracy while still not having the ability to predict policy outcomes. Meaning, economics can tell you likelihoods based on presuppositions of self-interest but are at a loss to predict an outcome when hundreds of these policies are pursued at the matching times. This is why there is weight in the term ceteris paribus.

While the vast array of social scientists may laugh at economists for interjecting such capricious language as ceteris paribus the language, when used appropriately, is a testament of honesty. Economists honestly don’t know the answer to the questions of aggregate outcomes without holding all other courses of action constant. Similarly, a mechanical engineer is ineffective at predicting the outcome of randomly slamming on the accelerator and breaks of a moving vehicle. This incapability derives not from the basic premises but from the series of self-canceling actions.

This is where economics derives its power, not from quacks in expensive suits.

The classics never get old … Marilyn Monroe ... It's Mary Louise Parker! Ahhh, a good old 1980's workout video. I'll take some Rule 5 with my football - Ravens Cheerleaders! Remember, underneath it all ... Three Beers Later offers an effort to achieve national unity. Sorta Blogless Sunday Pinup And Megan Fox: Progressive Cheesecake Watch!

By Jeremiah Dyke, a math teacher who hails free markets and freedom of choice. Copyright © 2009 by LewRockwell.com. Permission to reprint in whole or in part is gladly granted, provided full credit is given.

Christina makes economics so much more fun!