There is data and there is data.

I remember my first contacts with macro-economists in the early 1970s. They have equations for everything but generally they are just guesses. They explain their theories with graphs, showing that if this goes up then that goes down, or with ratios of derivatives, showing pretty much the same. Unlike engineers and other professionals who create models from physical realities and then use the models to expand on those realities, the macro-economist starts some global model and then attempts to justify it after the fact, there is never an underlying reality. The result is that the incoming administration intents to print a trillion dollars of new money with no idea as to what it will do, just pump it in and pray it works. In the old days of monetary theory the Government watched how much it generated since too much led to hyper-inflation of the Carter days, I remember, I was in Washington during that time. The question is, does any one of these brain trusts have a clue as to what they are doing, really doing, or is it really all theory. Also is anyone explaining it to the public, are are we all in for a great surprise.