Why Keynesians Never Say Sorry - LewRockwell

Why Keynesians Never Say Sorry - LewRockwell: Keynesians never say I’m sorry—they just make excuses until they can cherry-pick data to show that their destructive policies are working. In this respect our tiresome Keynesian school-marm, Janet Yellen, was in fine fettle upon the Friday jobs report, announcing that a “soft landing” had been achieved. Everything is now hunky-dory on main street, said she, because wages were up by 4.1% versus an estimated 3.2% rise in headline inflation for the 2023. Let’s see. Here are the values for average hourly wages and the headline CPI indexed to December 2020. As it has transpired, since Yellen and the Biden … Continue reading →