http://www.investors.com/politics/editorials/the-shockingly-high-price-of-federal-regulations/
For those of us who used to read The Wall Street Journal religiously we'd discover a repeating editorial that would pop up every few years like clockwork. Although the wording was slightly different each time the underlying theme was the same.
Economists always miss the big picture. Despite decades of research, fancy algorithms, and multiple Ivy League degrees these experts never ever seemed to get it right. "How could this be", the editorial board would ask. Gee, those fancy algorithms used to work pretty well back in the '70s.
The editorial board would then cite possible explanations such as expanding global markets and great advances in technology. The old algorithms might not be factoring these significant changes they would speculate. Plus, economics is an extremely complex subject.
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It's no mystery to me and I'm not very smart. For the tiny fee of a million dollars per Ivy League school (there are 8) I'll be happy to fix their outdated algorithms. But I do have a few conditions in my contract. First, they must pay in a stable currency, I prefer Swiss Francs. Secondly, the Francs must be deposited into an offshore account in the Grand Caymans. Once I can verify the deposit then and only then will the magic secret will be revealed - but it's cash up front. No IOU's.
Don't tell anyone but the chart above holds the key. It won't bother me a bit when the Ivy Leaguers line up for the next Nobel Prize in economics or angle to have a new building named after them, I'll be on the beach with my toes in the sand.
