This epic and must-read Comment of the Day by Chris Marschner—which he had to battle to get posted because of the WordPress glitches that have been plaguing EA commenters (and me, of course) for months, had me rejoicing in the wide range of expertise and experience the Ethics Alarms readers bring to the mission here. Then it caused me to become frustrated and depressed. The media makes no effort to explain these issues and enlighten the public with similar clear exposition, and if it did, I wonder how many Americans would take the time to read it. I also wonder how many Americans would understand such an explanation even if they tried.
Meanwhile, I despair of any politician or candidate for office having the clarity of thought and speech to bring what Chris is talking about into the political campaigns this year—-and there are no more crucial matters than these for voters to understand. In the 1992 presidential campaign, rogue candidate Ross Perot bought time on network TV to explain the national debt and why it was dangerous. He used humble tools: paper charts and a pointer. But Perot understood what he was describing, pulled no punches, and spoke clearly and simply. It was a national service: I voted for him as my gesture of gratitude.
If only Donald Trump could explain and debunk the lies being used to misrepresent the economy as clearly as Ross Perot explained the debt…but Trump couldn’t explain that the square of the hypotenuse in a right triangle is equal to the sum of the square of the other two sides without descending into stream-of-consciousness blather.
Isn’t there some way we could draft Chris Marschner to run for President?
Here is his Comment of the Day, supplemented by his subsequent comment expanding on his original post, on “The Deceitful January Jobs Report”…
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I was hoping you would address this issue of misleading economic data. The jobs report is one that is always subject to deceit. Beyond the absolute numbers and hours worked we should mention that the growth sectors of jobs were health care, low wage hospitality and government. Many of these jobs are driven in large part by the massive numbers (about 7.5 million) of illegal “migrants” who have been given parole by the Biden administration and dispersed throughout the country.
When I taught first year Economics I would tell my students that numerical values do not tell the whole story and you must dig into the numbers to draw any real conclusions. For example, a higher investment value does not mean our capital stock is increasing which would lead to more output at lower costs. I see the Biden administration as the proverbial glazer who breaks windows to increase business. That activity will increase nominal GDP but we are wasting resources unnecessarily.







