# Economics is not a science (Part 2 of 2)
Date: 2026-06-13
Previous Part: https://disrael.github.io/blogs/raw/economics-is-not-a-science.part1.md

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[Primary Dealers](https://www.newyorkfed.org/markets/primarydealers)

ASL Capital Markets Inc.   
Bank of Montreal, Chicago Branch  
Bank of Nova Scotia, New York Agency  
BNP Paribas Securities Corp.  
Barclays Capital Inc.  
BofA Securities, Inc.  
Cantor Fitzgerald & Co.  
Citigroup Global Markets Inc.  
Daiwa Capital Markets America Inc.  
Deutsche Bank Securities Inc.  
Goldman Sachs & Co. LLC  
HSBC Securities (USA) Inc.  
Jefferies LLC  
J.P. Morgan Securities LLC  
Mizuho Securities USA LLC  
Morgan Stanley & Co. LLC  
MUFG Securities Americas Inc.  
NatWest Markets Securities Inc.  
Nomura Securities International, Inc.  
RBC Capital Markets, LLC  
Santander US Capital Markets LLC  
SMBC Nikko Securities America, Inc.  
Societe Generale, New York Branch  
TD Securities (USA) LLC  
UBS Securities LLC.  
Wells Fargo Securities, LLC

In order to govern you ask banks [questions about economic numbers](https://www.newyorkfed.org/medialibrary/media/markets/survey/2026/jun-survey-sme.pdf) and then make decisions about economic numbers! What could be cleaner and more efficient than that?

One important economic number the Federal Reserve follows is explained by another Biden appointee Adriana Kugler

> The quits rate, an indicator of the confidence workers feel in terms of finding another job, has been in the narrow range of 1.9 to 2.2% since December of 23 and just a little bit below the average level in 2019.

And what do you do if the quits rate gets too high as it did in 2022?

![From here . Sure enough we can control the pesky “quits” rate through science!](https://disrael.github.io/blogs/assets/economics-is-not-a-science-e01c81a595.png)
*From here . Sure enough we can control the pesky “quits” rate through science!*

Why start the steepest rise in interest rates seen in modern times of course!

![Image](https://disrael.github.io/blogs/assets/economics-is-not-a-science-7ff19aa731.jpeg)

Squash the “Great Resignation” I previously wrote about [here](https://medium.com/@disrael/i-lost-my-hat-and-sunglasses-why-the-rich-should-call-off-jerome-powell-d00ce4365c16), because you aren’t squashing people — just numbers! You didn’t make a political decision that led to the misery of millions and potentially a swing into fascism — no you just did what the numbers and banks told you to.

> As inflation has declined over the past two years due in part to tighter monetary policy, the US economy has remained resilient with a stable labor markets and employment near its maximum sustainable level.

The data as defined by deliberately unaccountable, unelected officials says that we did a great job and since economics is a science there can be no debate over the decisions we took that led in no small part to the destruction of American society in favor of an insanely financialized economy serving only banks and an out of control tech sector.

For where traditional science is responsible for predicting the natural world in ways that can be challenged and proven wrong, our economic science is beyond such possible embarrassment. If society implodes as a result of economic decisions, that’s on society.