Occasional X: How it works (CDXCI)

“The final stages of capitalism, Karl Marx predicted, would be marked by global capital being unable to expand and generate profits at former levels.” (Chris Hedges)

Actually, Capitalism can produce macroeconomic profit at will.

Chris Hedges does not understand profit, and by…

— AXEC (@EgmontHandtke) July 22, 2026

Occasional X: The foul spirit of political economics (CCCXXII)

 

“Thanks for years of sharp monetary policy takes on Macro Musings. Here's to another year of great conversations!” (Macro Musing)

Economics has never been science, but disinfotainment. Macro Musings is proof.

Economics has been failed/fake science since the founding fathers. It… pic.twitter.com/ph4UJZfZrL

— AXEC (@EgmontHandtke) July 22, 2026

Occasional X: The foul spirit of political economics (CCCXXI)

“The Welfare State is merely a method for transforming the market economy step by step into socialism.” (Ludwig von Mises)

Not true.

The simplified national accounts below ⇓ show two economies, one (0) without tax, and one (1) with tax.

In (0), the workers spend their entire… pic.twitter.com/FzHGABIYAj

— AXEC (@EgmontHandtke) July 21, 2026

Occasional X: The foul spirit of political economics (CCCXX)

“Still can't believe Paul Krugman of all people dared to write this, lol.” (Connor Boyack)

Economics has been failed/fake science since the founding fathers, and Paul Krugman was part of this. Moreover, he profited very much from being a failed/fake scientist. He was…

— AXEC (@EgmontHandtke) July 21, 2026

Occasional X: Clueless economists / Price Mechanism (XVIII)

“Marxists can never understand the functioning of the market. They believe it’s the costs which determine prices.” (Friedrich Hayek)

The question is whether Friedrich Hayek ever understood the 'functioning of the market'.

The social ontology of prices says that the free-market…

— AXEC (@EgmontHandtke) July 20, 2026

Occasional X: Clueless economists / Money (CXLVIII)

“EXTREMELY ALARMING. Jeffrey Epstein says there would be 'RUNS on the bank' if the public knew how the banking system works.” (Noah Price)

No, that's only alarming for half-brainers.

That money is created out of nothing and backed by nothing is NOT the critical point of a fiat… pic.twitter.com/SbO4SNjyOd

— AXEC (@EgmontHandtke) July 20, 2026

Occasional X: Clueless economists / Science (CCCLXI)

“The problem is the axiomatic approach. You have adopted it. You're not part of the solution.” (Richard Werner)

Actually, every scientist has adopted it. Axiomatisation means not much more than stating one's premises as clearly as possible.

“When the premises are certain, true,… pic.twitter.com/cIYtgekRJ4

— AXEC (@EgmontHandtke) July 20, 2026

Occasional X: The foul spirit of political economics (CCCXIX)

Throughout the history of economics, there are few things that are more absurd than people who consider themselves as heirs/promoters of Paul Samuelson. For details, see

The father of modern economics and his imbecile kidshttps://t.co/MAgH2tehjm

— AXEC (@EgmontHandtke) July 20, 2026

Occasional X: I=S ― the biggest idiocy in macroeconomics (VIII)

“Okay, lets have some fun with this: …” (Thies)

Now comes the usual shell game with definitions, that has been typical for mathematically incompetent Keynesians since the beginning. All this kindergarten stuff was refuted a long time ago. See the working paper

Keynes’s Missing… pic.twitter.com/YeWK3S2Obx

— AXEC (@EgmontHandtke) July 19, 2026

Occasional X: I=S ― the biggest idiocy in macroeconomics (VII)

“But for money, the whole economy (state and other countries included) is always zero sum. It just has to.” (Thies)

Yes, obviously you have not understood the chart. From the fact that the balances add up to zero (line 11) does NOT follow I=S, it follows Qm≔-Sm. See the… pic.twitter.com/p97m6fYmnF

— AXEC (@EgmontHandtke) July 19, 2026

 

***

Graphic AXEC143g  Standardization of the notation

Occasional X: I=S ― the biggest idiocy in macroeconomics (VI)

“S = I is still true. If I falls below S, the economic output (y) adjusts (downwards) untill S = I aligns again.” (Thies)

Not true. The saving of the household sector is absolutely independent of the investment of the business sector.

The key concept for the understanding of… pic.twitter.com/nDC4h8cDcy

— AXEC (@EgmontHandtke) July 19, 2026

Occasional X: Clueless economists / Science (CCCLX)

 

“In both ecosystem and economy, survival rewards efficiency. Inefficiency is punished by extinction.” (Michael Rothschild)

Wrong analogy.

The U.S. economy is known to run on profit. Macroeconomic profit is given by the axiomatically correct Profit Law / Balances Equation…

— AXEC (@EgmontHandtke) July 19, 2026

Occasional X: The foul spirit of political economics (CCCXVIII)

“If you put the federal government in charge of the Sahara Desert, in five years there’d be a shortage of sand.” (Milton Friedman)

“If you put academic economists in charge of Science, in five years there’d be a shortage of brains.” (AXEC)

— AXEC (@EgmontHandtke) July 18, 2026

Occasional X: Clueless economists / Profit (CLV)

“Will big-time deployment of AI increase the rate of profit or decrease it? Most people agree that total mass of profits will go up, and that the capital share of national income will increase. but that still does not guarantee rising rate of profit because the quantity and value… pic.twitter.com/lLfdsfkaOy

— AXEC (@EgmontHandtke) July 18, 2026

Occasional X: Clueless economists / Power (II)

“Tyranny is the exercise of power beyond right.” (John Locke)

Historically, there has been a decline in public tyranny and an increase in private tyranny. Economists warn against the wrong tyranny.

The U.S. economy runs on profit. Macroeconomic profit is given by the…

— AXEC (@EgmontHandtke) July 18, 2026

Occasional X: How it works (CDXC)

“While history runs its course, it is not history to us. It leads us into an unknown land, and but rarely can we get a glimpse of what lies ahead.” (Friedrich Hayek)

No true. We know from elementary math that the breakdown of Capitalism lies ahead.

Capitalism runs on profit.…

— AXEC (@EgmontHandtke) July 18, 2026

Occasional X: The foul spirit of political economics (CCCXVII)

“China owns ~248,000 acres of American farmland. America owns 0 acres in China. Our past leaders sold us out. Time for Trump to take all of our land back for free.” (MAGA Posts)

The axiomatically correct macroeconomic profit formula is as follows: Qm:=Yd+(I−Sm)+(G−T)+(X−M).…

— AXEC (@EgmontHandtke) July 18, 2026

Occasional X: Clueless economists / Science (CCCLIX)

“A young friends graduating in STEM, but interested in economics/politics & Marxism, asked me for advice what to read, where to start.” (Branko Milanovic)

Forget legacy economics.

The founding fathers have defined economics as a social science, and accordingly, it has been… pic.twitter.com/a7VhrUxndL

— AXEC (@EgmontHandtke) July 18, 2026

Occasional X: The foul spirit of political economics (CCCXVI)

The history of economic thought is the history of scientific failure. The major approaches (Walrasianism, Keynesianism, Marxianism, Austrianism, and their derivatives) are mutually contradictory, axiomatically false, and materially/formally inconsistent. They all got profit… pic.twitter.com/2ZqZ6BiYom

— AXEC (@EgmontHandtke) July 17, 2026

Occasional X: The foul spirit of political economics (CCCXV)

“As the father of modern economics Adam Smith wrote, we should “allow every man to pursue his own interest his own way, upon the liberal plan of equality, liberty and justice.” (Adam Smith, quoted by Foundations for Economic Education)

This may be true or false… pic.twitter.com/7S4foAMl5U

— AXEC (@EgmontHandtke) July 17, 2026

Occasional X: The foul spirit of political economics (CCCXIV)

 

“Keynes was so convinced that he was more clever than all the other people that he thought his instinct told him what ought to be done, and he would invent a theory to convince people to do it.” (Friedrich Hayek)

Hayek never got it: “Economics is the study of the economy, not… pic.twitter.com/RitYaA9Xnf

— AXEC (@EgmontHandtke) July 17, 2026

Occasional X: The foul spirit of political economics (CCCXIII)

“When leftists run out of arguments, which usually happens quite fast, they simply call their opponents 'far-right.' If freedom, reducing poverty, fighting bureaucracy, driving growth and prosperity for all are far-right, please call me far-right as well. Who else is with me?”… pic.twitter.com/lUJdSiauyc

— AXEC (@EgmontHandtke) July 16, 2026

Occasional X: Clueless economists / Inflation / Deflation / Stagflation (XLXXII)

“Does the free market naturally push prices down?” (Mises Media)

The axiomatically correct macroeconomic Law of Supply and Demand ⇓ tells one how ― in the elementary case ― the avg price P moves under the condition of market clearing as a function of avg wage rate W, inverse… pic.twitter.com/1MZKRrfSQj

— AXEC (@EgmontHandtke) July 16, 2026

Occasional X: The foul spirit of political economics (CCCXII)

“Argentina as the ambivalence of the multipolar world. It (unjustifiably) defeats Egypt and thus the Global South. But then it defeats England and makes a point for the Global South.” (Branko Milanovic)

Whatever this is, it is not economics.

Economics has defined itself as a… pic.twitter.com/ErdM5EBwvR

— AXEC (@EgmontHandtke) July 16, 2026

Related 'From PsySoc to SysHum'

Occasional X: The foul spirit of political economics (CCCXI)

“In 1969, as America debated whether to end the military draft, a US Army general told a presidential commission he did not want to command an army of mercenaries. Milton Friedman answered him: 'General, would you rather command an army of slaves?'” (Milton Friedman, quoted by…

— AXEC (@EgmontHandtke) July 16, 2026

Occasional X: Clueless economists / Science (CCCLVIII)

 

“How is order produced from freedom of choice? That is a scientific mystery, and prices are the biggest clue to the solution.” (Tyler Cowen and Alex Tabarrok, quoting Vernon Smith)

Tyler Cowen and Alex Tabarrok never understood profit and, as a consequence, how the economic… pic.twitter.com/6UfXD9o0fj

— AXEC (@EgmontHandtke) July 15, 2026

 

Related 'Profit and the collective failure of economists' 

 

Occasional X: Clueless economists / Tax (X)

“Higher spending means that government will command a larger fraction of the nation’s resources, private individuals a smaller fraction.” (Milton Friedman)

This is the usual taxes-are-theft meme.

Taxes as such are not theft. Of course, they can become a kind of theft if, for… pic.twitter.com/JJRFv5P1Tg

— AXEC (@EgmontHandtke) July 15, 2026

Occasional X: Clueless economists / Money (CXLVII)

“You've always been told that the German hyperinflation of 1923 was a tragic economic accident. A natural catastrophe that befell the Weimar Republic. It's a lie.” (Auguste Bardamu)

Hyperinflation is not a 'natural catastrophe' but provably false theoretical economics.

The… pic.twitter.com/hKoaxYXns2

— AXEC (@EgmontHandtke) July 15, 2026

Occasional X: Clueless economists / Science (CCCLVII)

“Harvard anthropologist Joseph Henrich: 'The first problem is that many behavioral economists haven’t fully confronted what I call the WEIRD People problem. (Western, Educated, Industrialized, Rich and Democratic) Researchers often think they’re studying 'Homo sapiens', but… pic.twitter.com/HQmdecBNbr

— AXEC (@EgmontHandtke) July 15, 2026

Occasional X: Clueless economists / Profit (CLIV)

“It is a common complaint that many years ago Marx identified: all capitalists want that workers of other capitalists be paid higher wages so that they can become their customers, but they want their own workers to be paid as little as possible. This is exactly what the West is… pic.twitter.com/oh2xX3JcTp

— AXEC (@EgmontHandtke) July 14, 2026

Occasional X: The foul spirit of political economics (CCCX)

“The essence of a capitalist system in its pure form is that it’s a system of cooperation without compulsion, of voluntary exchange, of free enterprise.” (Milton Friedman, quoted by Thomas Sowell Quotes)

Milton Friedman never understood profit and, as a consequence, how the…

— AXEC (@EgmontHandtke) July 13, 2026

Occasional X: The foul spirit of political economics (CCCIX)

“Economics is haunted by more fallacies than any other study known to man.” (Henry Hazlitt, quoted by Foundation for Economic Education)

The major approaches (Walrasianism, Keynesianism, Marxianism, Austrianism, and their derivatives) are mutually contradictory, axiomatically…

— AXEC (@EgmontHandtke) July 13, 2026

Occasional X: Clueless economists / Science (CCCLVI)

“The private sector has become the largest funder of American R&D, by far. It funds over 1/3 of basic research, too.” (Russ Greene)

That scientists work for firms is a historical accident and in NO way intrinsic to science. Genuine scientists are fed up with working under the…

— AXEC (@EgmontHandtke) July 13, 2026

Occasional X: The foul spirit of political economics (CCCVIII)

 

“Mamdani attacks Hayek and Vance attacks Friedman a few days apart.” (Phil Magness)

The major approaches (Walrasianism, Keynesianism, Marxianism, Austrianism, and their derivatives) are mutually contradictory, axiomatically false, and materially/formally inconsistent. They all… pic.twitter.com/gJfduCOMKs

— AXEC (@EgmontHandtke) July 12, 2026

Occasional X: The foul spirit of political economics (CCCVII)

“Socialists not only understand economics just as well as capitalists ... but can solve their years of mismanagement through an embrace of our principles.” (Zohran Mamdani)

There aren't many topics that are more ridiculous than Capitalism vs Socialism.

The major approaches… pic.twitter.com/XnUKlBwpQY

— AXEC (@EgmontHandtke) July 12, 2026

Occasional X: Clueless economists / Science (CCCLV)

“Former. US intelligence official: 'Every doctoral degree in this world, whether in medicine or science, has received false information about the last 1000 years about the universe, no matter what. The information (curriculum) all comes from the Draco reptiles and other entities.…

— AXEC (@EgmontHandtke) July 12, 2026

Occasional X: Clueless economists / Money (CXLVI)

 

“THE INFLATION STORY = A MONEY SUPPLY STORY.” (Steve Hanke)

Your monetary theory is provably false. ⇓

For the axiomatically correct approach, see the working paper ⇒
The Dark-Matter Theory of Fiat Moneyhttps://t.co/x4NOcsCBMS pic.twitter.com/vVrG2tkDsX

— AXEC (@EgmontHandtke) July 12, 2026

Occasional X: The foul spirit of political economics (CCCVI)

Zillionaire Nick Hanauer presents himself as a 'proud class traitor': “you show me a highly unequal society and I will show you a police state or an uprising.”

And

“I warned my fellow zillionaires: fix this rigged economy, or the pitchforks are coming. The pitchforks are…

— AXEC (@EgmontHandtke) July 11, 2026

Occasional X: The foul spirit of political economics (CCCV)

“I still find it shocking that there's a strain of thought that considers working as an economist at an elite university or working at one of the biggest anti-poverty institutions in the world to be bad thing. ” (Ben Krauss, quoted by Vincent Geloso)

The major approaches… pic.twitter.com/q3DcfpapRv

— AXEC (@EgmontHandtke) July 11, 2026

Occasional X: The foul spirit of political economics (CCCIV)

Chris Freiman presents himself as 'Professor, John Chambers College of Business and Economics at WVU | Libertarianism, neoliberalism, effective altruism'.

Note that his economics argumentation has degenerated to a low-IQ meme.

Economics claims to be science but is NOT. The…

— AXEC (@EgmontHandtke) July 11, 2026

Related 'Economics is a disgrace ― now more than ever' 

Occasional X: The foul spirit of political economics (CCCIII)

 

“That even countries or groups which do not possess freedom can profit from many of its fruits is one of the reasons why the importance of freedom is not better understood.” (Hayek Quotes)

Hayek may have solved a pivotal question of epistemology, but he never understood how the…

— AXEC (@EgmontHandtke) July 10, 2026

Occasional X: The foul spirit of political economics (CCCII)

“The market is the most efficient allocator of resources we have.” (Milton Friedman)

Milton Friedman never understood profit and, as a logical consequence, how the economic system works. That's self-disqualifying and a shame for academia.

As a result, economic policy guidance…

— AXEC (@EgmontHandtke) July 9, 2026

Occasional X: Clueless economists / Science (CCCLIV)

Prizes are often not based on true merit. Like the Oscar, they are mainly a marketing/PR instrument. Honoring the look-alike happens in all walks of life. Most economics prizes are a reward for political disinfotainment.

Although it claims to be a science, economics is not one.… pic.twitter.com/TNBlOOHmvJ

— AXEC (@EgmontHandtke) July 9, 2026

Occasional X: How it works (CDLXXXIX)

 

“There are only two options for France, Italy and Belgium: 1. They cut spending and implement business friendly pro-growth policies 2. They will face a debt crisis. The first Euro crisis was about hundreds of billions, the next one will be about trillions. Which one will it be?”…

— AXEC (@EgmontHandtke) July 9, 2026

Occasional X: The foul spirit of political economics (CCCI)

“Contrary to a common—and incorrect—critique of Rothbard, he was not a fanciful purist who refused to support any political movement that failed to be perfectly libertarian in every way.” (Mises Institute)

As a scientist, the economist has no mandate for political… pic.twitter.com/kmfLmlqrX4

— AXEC (@EgmontHandtke) July 8, 2026

Occasional X: Clueless economists / Science (CCCLIII)

“GDP answers the question posed to it, as well as we know how: What is the total value of goods and services produced in the market economy, and what is the value of income earned by such production in the market economy? It is a terrible measure of things it wasn't designed to…

— AXEC (@EgmontHandtke) July 8, 2026

Occasional X: The foul spirit of political economics (CCC)

“Debates on what monies to include or not to include in GDP have been going on forever, some examples are about profits or interest/fees on usury(debt).” (Stefan Demetz)

Yes, economic debates go on endlessly without reaching a definite conclusion because economics is failed… pic.twitter.com/e7UcGTlYNN

— AXEC (@EgmontHandtke) July 8, 2026

Occasional X: Economics and math ― they just can't get it together (XIII)

“GDP(GNI/GNP) accounting is just a necessary evil, as other baseline measurement methods are worse.” (Stefan Demetz)

I do NOT say that GDP accounting is unnecessary; I say that it is done wrong because the representative economist is too stupid for elementary algebra. It is not…

— AXEC (@EgmontHandtke) July 8, 2026

Occasional X: Clueless economists / Science (CCCLII)

“Actually, GDP sucks. I say that as an expert on reconstructions of national accounting. But it sucks in the way that all critics never say: it understates the massive gains in wellbeing that humanity got.” (Vincent Geloso)

Yes, GDP sucks, because the 'expert on reconstructions… pic.twitter.com/vCGuuWx4Tr

— AXEC (@EgmontHandtke) July 8, 2026

Occasional X: The foul spirit of political economics (CCXCIX)

“Ayn Rand saw capitalism as the social system of reason, production, and voluntary exchange.” (Foundations of Economic Education)

Ayn Rand has been a member of the intellectual current that says, with many words and thousands of examples, nothing more than 'All good things in…

— AXEC (@EgmontHandtke) July 8, 2026

Occasional X: How it works (CDLXXXVIII)

 

“Because the US government relied on neoliberal economists, who (in service of Wall Street) insisted that all of that cheap money should flow to the most profitable sectors, following the dogma of the 'free market'.” (Norton)

This is true from the practical standpoint. From the…

— AXEC (@EgmontHandtke) July 8, 2026

Occasional X: The foul spirit of political economics (CCXCXIII)

“Social justice does not belong to the category of error but to that of nonsense, like the term ‘a moral stone.'” (quoted by Hayek Quotes)

'Austrianism does not belong to the category of science but to that of mental deficiency, like the term 'moralizing scientist'.' (AXEC)… pic.twitter.com/JuzzT3DKAg

— AXEC (@EgmontHandtke) July 8, 2026

Occasional X: The foul spirit of political economics (CCXCXII)

“Economics is a living thing, and to live implies both imperfection and change.” (Ludwig von Mises)

Another platitude from von Mises.

Austrians in general, and von Mises in particular, never understood the profit mechanism, which is the pivotal feature of the market economy.…

— AXEC (@EgmontHandtke) July 7, 2026

You contradict me, but what is needed is a refutation. This is the difference between politics and science. Austrianism is the senseless repetition of methodological garbage, i.e., confused storytelling instead of consistent science.

Come back if you can refute the macroeconomic…

— AXEC (@EgmontHandtke) July 8, 2026

Occasional X: How it works (CDLXXXVII)

“The greenback is no longer a reserve currency — it has become a vehicle for unfettered capital accumulation.” (Adam Tooze)

The U.S. economy runs on profit. Macroeconomic profit is given by the axiomatically correct Profit Law / Balances Equation…

— AXEC (@EgmontHandtke) July 7, 2026

Occasional X: Clueless economists / Science (CCCLI)

 

“The biggest mistake economists make is treating people like particles. People don't obey equations. They learn, adapt and change their minds. That's why Ludwig von Mises believed economics requires a fundamentally different method.” (Creative Deduction)

Since J. S. Mill,…

— AXEC (@EgmontHandtke) July 6, 2026

For more about inexact and separate science, see AXECquery.

Occasional X: The foul spirit of political economics (CCXCXI)

“Ayn Rand's most important lesson: Production comes before distribution. You cannot divide a pie nobody baked.” (Handre)

True. Tautology has been Ayn Rand's main figure of speech. This makes it sound convincing.

Ayn Rand's main defect has been that she did not know how the…

— AXEC (@EgmontHandtke) July 5, 2026

Occasional X: The foul spirit of political economics (CCXCX)

“Seeing villagers taking part in a contest to guess the weight of a slaughtered ox, he decided to analyse the results. While individual guesses varied wildly, Galton realised that the mean of the guesses were remarkably close to the true weight of 1,198 pounds. In fact, the…

— AXEC (@EgmontHandtke) July 5, 2026

Occasional X: Clueless economists / Money (CXLV)

“God I love Hoppe. It’s such a simple yet obvious question. How can pieces of paper make a society richer? It can’t.” (Michael)

Hoppe never understood economics in general, and the Theory of Money in particular. He's the go-to guy for low-IQ philosophers.

For the axiomatically…

— AXEC (@EgmontHandtke) July 5, 2026

Related 'The objective value of money' 

Occasional X: The foul spirit of political economics (CCXCIX)

“The OG neoliberals had great wisdom.” (Joshi)

No!

Economics has defined itself as a social science and accordingly has been based on subjective/behavioral assumptions/axioms. This is the ur-mistake. Economics is about how the economy works. It is a systems science, not a… pic.twitter.com/MS8WA5j8vp

— AXEC (@EgmontHandtke) July 5, 2026

Occasional X: The futile attempt to recycle Austrianism (CXIV)

“The desirability of a particular object is not sufficient justification for the use of coercion.” (Friedrich Hayek)

Whatever this is, it is not economics.

Friedrich Hayek never understood the difference between science and politics. Worst of all, he never understood profit… pic.twitter.com/yJIYOP3p2Y

— AXEC (@EgmontHandtke) July 5, 2026

Occasional X: Scrap the EconNobel (XLXVII)

Prizes are often not based on true merit. Like the Oscar, they are mainly a marketing/PR instrument. Honoring the look-alike happens in all walks of life. Most economics prizes are a reward for political disinfotainment.

Although it claims to be a science, economics is not one.… pic.twitter.com/hhXBbAmG6w

— AXEC (@EgmontHandtke) July 4, 2026

Occasional X: The foul spirit of political economics (CCXCVIII)

“Pretty much the entire academic literature on 'neoliberalism' is a dumpster fire of bad history and even worse economics that should be jettisoned in its entirety for being built on an edifice of ideologically-motivated errors.” (Phil Magness)

Economics has defined itself as a… pic.twitter.com/eBsF7PBVgJ

— AXEC (@EgmontHandtke) July 3, 2026

Occasional X: Clueless economists / Science (CCCL)

“But there's a problem with economics, even first-year economics. Economics isn't settled. That's not all bad, or a disgraceful scandal in the science. Obviously, for one thing, economics involves issues of ethics about which humans disagree. For another, the disagreeing,… pic.twitter.com/I4MBm49Aky

— AXEC (@EgmontHandtke) July 3, 2026

Occasional X: The futile attempt to recycle Austrianism (CXIII)

“Readers interested in the complex relationship between state and market would be better served by the literatures in public choice and Law and Economics, where analytical clarity, empirical depth, and institutional realism offer a more accurate account of how government actually…

— AXEC (@EgmontHandtke) July 3, 2026

Occasional X: The futile attempt to recycle Austrianism (CXII)

“In The Theory of Money and Credit, Mises argued that money originates in indirect exchange, emerging from the marketability of particular commodities. Money does not begin as an abstract accounting unit imposed from above.” (Mises Institute)

The History of Money is interesting,… pic.twitter.com/MWIkziv2EC

— AXEC (@EgmontHandtke) July 2, 2026

Occasional X: The foul spirit of political economics (CCXCVII)

 

“Krugman boards the Trump train. Who could have predicted this?” (Mike, quoted by Albert Pinto)

Paul Krugman has always been at the lower bound of low-IQ economics. For details, see

Trump and the weaponizing of economicshttps://t.co/sPgTb0Jqmg

— AXEC (@EgmontHandtke) July 1, 2026

Occasional X: The foul spirit of political economics (CCXCVI)

“Most anti-immigration arguments about crime can be answered by having the state do the one job almost everyone agrees it should do: deter crime.” (Vincent Geloso)

Whatever this is, it's not economics.

For 200+ years, economics has claimed to be Science but still is not. The… pic.twitter.com/QwsqyS43Pz

— AXEC (@EgmontHandtke) July 1, 2026

Occasional X: Clueless economists / Breakdown (XXVII)

“Elon is a Hayekian, a cousin of Marxism, sharing its Anglo faith in Destiny — 'scientific history,' 'Whig history,' 'Divine Providence,' etc. Hayekian destiny is 'spontaneous order.'” (Curtis Yarvin)

Whatever this destiny blubber is, it is not economics.

Hayek never understood…

— AXEC (@EgmontHandtke) July 1, 2026