Small business owner dismantles CNBC’s article based on the Fed’s conceptually incoherent study

Louis is a small business owner and a big consumer rights advocate. He’s been exposing government corruption and bad practices of many private companies in his videos. He’s generally pretty focused on tech and business related regulatory issues, and I’d say his politics are probably more left leaning than anything else.

However, being in a totally unrelated field, Louis dismantles CNBC’s article (supposedly written by professional journalist trained in economics) based on the Fed’s study related to business investment consumption, making great satirical commentary regarding potentially high IQ individuals behind the study.

To me, this is a great testament to CNBC’s (can be replaced with any other news channel) and the Fed’s incompetence or malice. One doesn’t have to be a professor of economics to understand what the economics is about. To understand economics, one needs to have common sense and a bit of a small business owner experience. This is why AE doesn’t accept the mainstream separation between macro and micro. If something doesn’t make sense on the micro, it will not make more sense on the macro level.

As I’ve stated in one of my posts from a few months ago – most of the studies and statistics produced by the government aren’t made to explain things or to find out reasons behind certain events, but they’re made to justify and to encourage certain actions. And it’s not limited to economics…