Today is Thursday and the fourth day of my touching on the issues that should be at the forefront of politics and the mid term election……today’s fare……the Economy.

Oh boy!  I can hear all the heavy sighs and see the eye rolling……at this point anyone not interested in economics will go into a catatonic trance and veg out……am I wrong?

This is for those that think knowledge of economics is essential to understanding the politics of the nation.  Economics is one of those subjects that few enjoy and even fewer understand……and that is Why I Am Here!  I try to give a simple definition or explanation….I dumb down, if you will, the complexities of a science that will make your eyes bleed.

There are many theories in the field of economics……Marx will make you catatonic, he should have been a Russian……..then there is micro and macro economics….not the same thing at all…..and then there are the ones, if you know anything about the field will make laugh hysterically….like the Laffer Curve or better known as trickle down economics……..(just saying the term makes me bust into raucous laughter)……..and there is the rub…..which one of these is the true form of economic analysis?

Now we come the the field that has done more to complicate the field than anything……the media and its so called experts that are interviewed……..I read a great piece that helps people understand what is happening when news is reported…..

(Newser) – The next time you hear an economist make a bold pronouncement, you should probably be a bit skeptical, because the entire field “is desperately in need of a paradigm shift,” argues Mark Buchanan at Bloomberg. Why? Because most economic models are based on the idea that individuals make decisions rationally—which is to say, based “on the same unbiased, probabilistic view of the future.” Which is basically crazy. “It’s like a physics teacher assuming that students already know by instinct the exact mathematical form of Einstein’s relativity theory.”

Want evidence? In a recent study, economics students were asked to forecast outcomes in an economy governed by simple equations—without knowing those equations, and given that the students themselves could affect things. Their predictions were all over the map. “Include realistic behavior in your models, and you get a realistically complex economy that is very hard to predict and control.” And that’s what we desperately need, because “in such chaos lies economic reality.” Click for Buchanan’s full column.

Economics is NO different than any other issue in the news…….they have a premise and they will find people to reinforce that view……in other words, it is ALL spin……..they do not talk to the people….the very ones that will make an economy work…….why is that?

Basically and simply put…this is how they can control the economy completely…..if the people have NO idea what is happening until it is too late then it is a worthwhile endeavor…..and the MSM does nothing to enhance the people’s knowledge of the economy or economics in general…….people need to grasp the understanding of how stuff works and the economy is one of those…..and that is Why I Am Here!