Thursday, March 17, 2011

Federal Reserve Economist Taunts Me

By the way,  my recent rebuttal of Fed economist Stephen Williamson only came about because of this taunting email he sent me:

from Stephen Williamson

date Wed, Mar 16, 2011 at 7:22 AM

subject intellectual debate

Ron Paul seems to think that you are his representative in the

"intellectual debate." I wrote this

But you don't seem to be holding up your end. Intellect feeling down?

Steve Williamson

Stephen D. Williamson

Department of Economics

Washington University in St. Louis

St. Louis, MO 63130
Williamson apparently wrote the article last week Friday and nobody noticed. Usually, if this type of blog post were noticed by an EPJ reader, they would email me a link to the story. I get links emailed to me everyday and I have thousands of readers daily. Yet, nobody sent me the link. In other words, in another good sign, nobody is reading the propaganda these jokers are putting out.

His reference to my being Dr. Paul's representative most likely comes about because of this, which indicates Fed economists are watching every word Ron Paul utters, real closely. I wasn't aware of Dr. Paul's kind comments until an EPJ reader brought them to my attention. And, while I would like to take the compliment that Dr. Paul considers me "his representative in the intellectual debate," I remind readers that this is simply Fed economists stretching logic far beyond what any logician would stand for. All Dr. Paul says is that I do a thorough job of rebutting the attack on him by Fed economist David Andolfatto. As any of us who have read, End the Fed,  are aware, Dr. Paul is fully capable of advancing the intellectual debate about the Fed. In fact, that's exactly why the Fed economists are watching so closely every word he says about them and are apparently in a new aggressive attack mode.

As LRC's David Kramer wrote to me:
I guess we're at Stage 3 of Gandhi's hypothesis:

1. First they ignore you,

2. then they laugh at you,

3. then they fight you,

4. then you win


  1. Not surprising. EPJ Alexa ranking:

    Alexa Traffic Rank: 88,472 Traffic Rank in US: 28,269

    NewMonetarism ranking:

    Alexa Traffic Rank: 5,958,142 [no US stats]

  2. I don't know about you folks, but any time I see any article or paper written by anyone at the Fed (regardless of location), I skip over it. They're flawed position on the economy is obvious and bears no further repetition.

  3. It has been the growing trend of economists in academia wanting to viewed as members of the natural science department and not the social science department. In which case, this class treats their writings as scientific hypotheses with overwhelming, irrefutable evidence. Therefore it must be scientific law.

    I wouldn't be surprised if the ultimate goal for some would be to write text's that resemble the following:

    Just replace "chemical processes" or "process control" with human action and you could build the modern economic control model.

  4. It is pleasant to imagine the FRS's junkyard dogs regressing to Stage 2 if and when Hayek's "Denationalisation of Money" is repopularized and its main points accepted as good advice to be acted upon in our lifetimes and in the near future.

    From the Preface, by Arthur Seldon:

    "In effect, Professor Hayek is arguing that money is no different from other commodities and that it would be better supplied by competition between private issuers than by a monopoly of government."

    "I wish I could advise that we proceed slowly."


    Of course, the flagwavers, warmongers, socialists and welfarists, cops, crony capitalists, and taxgatherers aren't gonna like denationalization of money one bit.

  5. He probably wants to add you to his list of important acquaintances. Maybe he secretly thinks that the Austrians will win this debate and he wants some credentials for the other side (e.g., "I debated Robert Wenzel").

  6. Sounds more like he was disappointed that his article didn't go viral the minute he posted it, so he choose to bait Wenzel into commenting on it.

    Fact is, no one's bothered to read his comments because there's nothing new there. It's the same line we've been getting from the Fed and its supporters for a hundred years.

  7. RW,

    I visited this egghead's site. The Crown Royal came out early yesterday. I guess I fell off the turnip truck, for alas the thought there is very fuzzy.

    I come to you RW for sanity and clarity.

    Thank you so much.

  8. Hasn't responded to my past email asking him: "Are you a moron?"


  9. Man! A smack-talking Fed economist. I know that they're high on the hubris, arrogance, condescension, egotism meter, but the least he can do is keep it from the childish playground taunting level.

  10. The ultimate sagging mattressMarch 18, 2011 at 4:26 AM

    I don't know much about Ghandi, but I think I would be cautious with that hypothesis: First they ignore you, then they laugh at you, then they fight you, then you what? The right to say I told you so?

    The Fed is hanging on to a fence post in a creek that's 4ft high and rising. Didn't bother to go to the link because I don't want to give the Fed the satisfaction of a web hit. There's that, and there is also the fact I dislike being reminded how dumb I am and how primal my thoughts are for failing to appreciate the nuances of central banking and the vital role the Fed plays in the elite's confiscation of Americans' wealth.

  11. I think you are both childish know-nothing hacks who have Economics educations from the stone age! By the way my Economics education is happily waving at you all the way from the 21t century. Hi, dinosaur Economists! You are becoming more discredited, stupid, and useless by the day!

    I am glad you have time to bicker with this guy, considering there's an economic crisis to clean up and you both can't help but sound like little two girls getting in a bitch-fight. You aren't adults, you're frankly pathetic. Both of you.

  12. Oh by the way, I see all of your slack-jawed readers are just as hair-brained as you. I hope you and your fan club start taking post-crash Economics courses, where we don't just learn the ideological shillery bullshit that you espouse.

  13. A brand new mattressMarch 18, 2011 at 1:25 PM

    You win a better way of life. One free of oppression and leaders who lack any morality. You can say "I told you so" if you want, but I'd rather have my freedom than get to say "I told you so."

    Your comment makes no sense...You think RP has been fighting the fed all this time so he can say I told you so? He can say that already. He's a freedom fighter. That should be blatantly obvious.

  14. @ anonymous (ranter)

    You used two posts and 3 paragraphs to say ABSOLUTELY NOTHING.

    Please elaborate on what "post-crash" economics even means. Is economics some sort of shape shifting apparition that changes day by day?

    Maybe people like you would do better at understanding "post-crash" economics if you understood at all what caused the crash in the first place.