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Post a Comment On: Steve Sailer: iSteve

"In defense of the inbred clique running the world"

23 Comments -

1 – 23 of 23
Blogger Icepick said...

Yes, if we didn't have the very best people in the world running the Fed, imagine the kind of damage that could result. Why, it could be catastrophic!

Oh, wait....

1/14/14, 4:18 PM

Anonymous Anonymous said...

Burger King has really good O Rings.

1/14/14, 4:19 PM

Anonymous Orthodox said...

Monetary policy is Challenging!

Taborrak did a really good job of unintentionally pointing out why these people and the institutions they control are doomed. They are now inbred and sheltered to the point where they are unable to relate to the general public, but they exist in a nominally democratic political entity. Yellen will be the Marie Antionette of monetary policy and the Fed will get the chop too when its all said and done. Another confirmed case of Hultgree-Curie Syndrome.

If you read these stories and don't think to pick up a few ounces of gold, God help you.

1/14/14, 5:12 PM

Anonymous Anonymous said...

http://www.urbandictionary.com/define.php?term=o-ring

1/14/14, 5:12 PM

Anonymous Dave Pinsen said...

O-rings were an odd and tone-deaf example for Alex to use.

All the praise for Fischer raises an obvious question: if he is so talented to warrant the unprecedented Israeli government-to-US government move, why is he second banana to Yellen? The answer appears to be that she really isn't the best qualified person for the job, just the best qualified woman. Does Alex address why affirmative action for wealthy and well-connected women is deemed more important than merit?

One question for you Steve, since you've implicated this clique in our ongoing economic malaise: given the constraints of the Fed (e.g., its dual mandate to promote economic growth and maximize employment, and its inability to address economic problems not associated with monetary policy, such as unchecked immigration, naive trade deals, poor fiscal policy, etc.), what would you have preferred it did differently over the last several years?

1/14/14, 5:12 PM

Anonymous svendrobert said...

It is almost as if someone decided that they shall surround government with a whole world of economists.

1/14/14, 5:17 PM

Blogger Steve Sailer said...

"what would you have preferred it did differently over the last several years?"

I'm not a talented witch doctor, so I don't talk about macroeconomics a lot anymore. I spent a lot of time in the 1970s and 1980s thinking about macroeconomics, but ultimately I didn't notice that I had a comparative advantage in that field.

So, today, I focus on simple topics that don't attract much attention, such as conflicts of interest among the Great and the Good. Dr. Fischer's career features a number of interesting conflicts of interest, but we are being told that those are of no interest because he is the world's greatest witch doctor. I'm really not capable of assessing just how valuable his witch doctoring skills are, so perhaps that's why I am skeptical that they make up for his manifest conflicts of interest: I'm just too stupid to realize how the spells Dr. Fischer is going to cast will do us so much good that his conflicts of interest are a negligible price to pay for his world-class witch doctoring.

1/14/14, 5:24 PM

Anonymous Anonymous said...

When even Great Britain and the United States find that their home-grown talent isn’t good enough that tells you that the demand for talent is immense.


If what was going on was simply a demand for talent it would be less objectionable. It would be like multiple baseball teams bidding for the services of the best pitcher in the game at present.

But what exactly is the evidence that the "1% of the 1%" truly merit the high esteem in which they are held? What exactly has Fischer done which sets him apart from hundreds of thousands of other bankers in the US? It seems that his principle qualification lies in being very well connected - as Tabarrok more or less admits.

1/14/14, 5:24 PM

Blogger Luke Lea said...

Steve is on a roll!

1/14/14, 5:32 PM

Blogger Luke Lea said...

I think the Fed is faced with an impossible dilemma -- how to increase employment without creating inflation -- so all of these people are going to come out of this with egg on their faces. (Except, according to Steve, they just wipe it off and go on to the next meal.)

1/14/14, 5:35 PM

Blogger DCThrowback said...

Perhaps Alex Tabarrok, if he was a a fan of the NFL, could've used the similar strategies of risk-averse franchises hiring the same retread coaches rather than taking chances on lesser known, but perhaps more innovative, college talent.

Maybe Jim Grant is the Chip Kelly of economists, but we'll never get to find out.

1/14/14, 5:44 PM

Anonymous Oswald Spengler said...

I guess Federal Reserve Vice Chairman is yet another one of those pesky "jobs Americans just won't (or can't) do."

1/14/14, 6:02 PM

Blogger Captain Tripps said...

It seems Tabarrok strings together a few tautologies and considers the case closed. Color me skeptical. I’ll take it at face value that Yellen/Fischer are individually decent people; as my grandparents always used to say, the Christian thing to do is always assume the good in someone you meet, until proven otherwise. But, just a cursory glance at Yellen’s career reveals unremarkableness. Fort Hamilton High School in Brooklyn, undergrad at Brown, PHD thesis at Yale, and teaching/working at the Fed after that. I guess I’m supposed to hit my knees and gaze at the awesome wonderfulness of her awesomely wonderful Ivy League creds, but I’ll pass. She’s never had to really LEAD people (I don’t count teaching; that dynamic is too one-sided; sorry Education Realist!) to accomplish a goal, or successfully run a business. THAT I could understand and admire; a Fed Chairman that actually saw economics at the other end (micro) on a day-to-day basis. For that matter, I’d like to see Fischer’s bona fides in that regard. Either way, the Fed is more of a technocratic organization; Steve is right to ask the hard questions; nobody in mainstream journalism will. I’ll simply just stand by with guarded detachment, which is all I can do anyway from my lowly perch. There’s a Devil to pay for all this dripping arrogance of the elite. Pride was the Original Sin, after all. Perhaps the assortative mating will be undone by the non-assortative expenditure of ammunition; I can’t help but think that the masses will not accept this condition in perpetuity. I’ll retire to my redoubt in Galt’s Gulch; I’ve done my time in service to the Empire.

It seems our wizards of smart have all mapped out the future for us. As far as I can tell the future is:

A. Robots! Machines! Either in a mostly benign way (AI; I, Robot), or all the way on the other end to human extinction (Skynet; the Matrix; or the Borg – OK the Borg are androids, but that 7 of 9 was easy on the eyes…). They will be here Real Soon Now.

B. Feudalism 2.0 (I guess Gattica would be the most positive vision; Elysium not so much). You’ll eat your Soylent Green/Frijoles and like it! Never, but never ask a question deemed impertinent by his Excellency Torquemada!

1/14/14, 6:23 PM

Anonymous Anonymous said...

If Fischer were a dual citizen of another country, would people still step up and defend him?

Which countries would or wouldn't get a pass?

1/15/14, 12:33 AM

Anonymous Anonymous said...

Steve has now made the transformation into Super Saiyan. I can only speculate as to his current power level. It appears to be growing with every post.

1/15/14, 1:13 AM

Blogger roundeye said...

Popeye's are the best fast food onion ring.

1/15/14, 4:19 AM

Anonymous Svigor said...

Color me skeptical. I’ll take it at face value that Yellen/Fischer are individually decent people; as my grandparents always used to say, the Christian thing to do is always assume the good in someone you meet, until proven otherwise.

I take it as a given that individual Jews are going to turn out to be decent people. But also ethnocentric. It's just the realistic thing to do, until proven otherwise.

Popeye's are the best fast food onion ring.

Popeye's have withdrawn from my vicinity. I miss their oh-so-greasy cups of beans and rice. You can only eat one, once in a while, but with those biscuits, and maybe even some greasy fried chicken on the side...

1/15/14, 8:05 AM

Anonymous Anonymous said...

"When even Great Britain and the United States find that their home-grown talent isn’t good enough that tells you that the demand for talent is immense."

Demand for talent or the talent with the right pedigree?

Suppose someone had even higher credentials than Fischer but is harshly critical to Zionism or had made public statements about racial differences. Would such talent even be hired for a lower post?

Fisher is Jewish-Zionist, and Carney worked with Goldman Sachs for 13 yrs.

http://en.wikipedia.org/wiki/Mark_Carney#Goldman_Sachs

It wasn't just about talent but talent with the right assurances of loyalty and allegiance.

1/15/14, 8:12 AM

Anonymous Anonymous said...

Chrysler was purchased by Fiat. Marchionne was already the CEO of Fiat so why would he not take over for Chrysler. It's not like Chrysler was actively looking for a new CEO

1/15/14, 9:55 AM

Anonymous BB753 said...

Did Fisher ever hold a UK passport? Assuming he was born in Zambia..

1/15/14, 10:58 AM

Anonymous PC Makes You Stupid said...

Tabbarok's is full of hasbara but it's Sailer who trips over Godwin's Law. *facepalm*

1/15/14, 11:22 AM

Anonymous Anonymous said...

"When even Great Britain and the United States find that their home-grown talent isn’t good enough that tells you that the demand for talent is immense."

It shows there's been a coup and the banking cartels are now the true government of USUK.

1/15/14, 11:52 AM

Anonymous Anonymous said...

"When even Great Britain and the United States find that their home-grown talent isn’t good enough that tells you that the demand for talent is immense."

It shows there's been a coup and the banking cartels are now the true government of USUK.

1/15/14, 11:57 AM

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