Friday, May 30, 2014

John Hinderaker: Once Again Proving His Economic Stupidity

I've gotta hand it to John Hinderaker; never has someone with such a horrible record of economic analysis consistently proven his incompetence.  It's almost as though he has a pathological need to publicly demonstrate on a regular basis that he has no clue how to perform economic analysis. 

Now he's talking about the labor force participation rate, claiming,

Apologists for the Obama administration sometimes argue that the nation’s declining rate of labor force participation is largely a function of baby boomers retiring from the labor force. Unfortunately, this is not the case

Unfortunately, John, there has been a ton of research on this.  Several Federal Reserve branches have looked at along with a lot of economists. 

Invictus, over that the Big Picture blog, has a really good summary at this link.  That link as a series of links at the bottom that show a lot of the research on the topic.  You'd think Hinderaker would have looked at some of these before he put his foot in this mouth ... again.