The video is here. It is another way of saying that almost all econometricians spend most of their time on absurd incorrect analytical method.
As Ludwig von Mises put it:
As a method of economic analysis econometrics is childish play with figures that does not contribute anything to the elucidation of the problems of economic reality. -The Ultimate Foundation of Economic Science: An Essay on Method
Jeez, Mom, I'm just tryin' to make a living!
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