When I posted my 5 April 2007 investigative report on the science fraud by the physics estblishment, US economy was not yet cratering. For some reason, I wrote the following:

It (the fraud by physicists) is happening because bad hombres have chosen, unfortunately, physics as the field in which to do their stuff. Some choose Wall Street; some choose politics; these hombres — being the clever intellectuals they are — have chosen physics. If they had come to Wall Street, Ken Lay would not be fit to hold a candle to them. So, thank God for small mercies.

That gratutude to God, it is now clear, was premature. Even as I wrote the above paragraph, the physicists were doing America in. Physicists are the ones who sat in the backrooms of Wall Street, designed esoteric equations with which to design financial instruments with which to rip off the investors. In the end, they managed to bring the whole World down. For these physicists, as with their colleagues who participated in the Great American Science Fraud, their own fun and games and their hubris and their fat salaries were more important to them than the consequences of their actions. Their handiwork is partly responsible for the suffering all around the World today. Hundreds of millions of people are facing terrible consequences of the ecomonic collapse that started in those backrooms, and snowballed.

If this is hard to swallow, look at it another way: If these physicists had not come to Wall Street, things would be different today. Chances are they would be a lot less catastrophic.

But, I should not claim the credit for this observation. It has been already made in a book Physicists on Wall Street and Other Essays on Science and Society, by Jeremy Bernstein, 2008. Here is a small section from the blurb for that book:

Professor Bernstein looks at economic theory and how some physicists who developed interesting economic models based on derivatives and hedge funds almost led to the country into bankruptcy.

Professor Bernstein is of course spot on. However, his word “almost” above no longer applies. This catastrophe is now here.

And it’s gonna get a lot worse!



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