I thrive on provocation. It inspires me to think.
I also like to provoke others in hopes of inspiring thought in them. But, for most of my life, it just ticked them off.
To provoke me to write something timely, my guy D.A.
(who keeps the bus here at Prosperity Pub moving forward) sent me a Bloomberg article first thing yesterday morning entitled, "Powell Abandons Soft Landing Goal as He Seeks Growth Recession."
He knew any headline with econ-babble like “soft landing” and “growth recession” would stir the pot.
It did.
It moved me to write about the contradictory fantasy contained within the phrase “growth recession.”
I wanted to point out yet again the vast knowledge problem ignored by economic models that pretend to deliver a reliable path towards such a specific and laughable outcome.
I considered invoking the “precautionary principle” as a warning against giving anyone – economist, politician, bureaucrat… whoever – power to meddle with free-market economic processes that contain far too many actors, choices, motives, complexities, and non-linearities to reliably model.
I saw an opportunity to make a quick tangential comment drawing parallels between ineffective economic models and climate models to stir in some provocation of my own.
I would surely have framed such pretentions of sufficient knowledge as a fatal conceit, heaped contempt on central bankers epistemic arrogance, and – space permitting – vented my spleen on a democracy that lacks the courage to “stand humble before complexity and [spontaneous] order without [centralized] planning.”
I was definitely going to call professional economists “pin heads”.
But then I got distracted watching Biden provoke half the country.
Which inspired me to write about that instead…
He Basically Used Three Words
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