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"World-Leading Economist" And Advisor To Chancellor Osborne Busted For Smoking Crack
All those times when the general population asks if panglossian, clueless economists are smoking crack... apparently there was a reason for that.
When the UK and the rest of Europe proposed and implemented a change to the way GDP is calculated last year (a change which single-handedly pushed Britain above France as the world's 5th largest economy) one which "estimated" the contribution of prostitution and illegal drugs to national economic output, little did we know that such "estimates" would be based on personal experience (also see "How Britain Calculates Its Hooker "GDP Boost": 60,879 Prostitutes x 25 Clients Per Week x £67.16 Per Visit").
Enter professor Douglas McWilliams, 63, head of the well-known Centre for Economic and Business Research (CEBR) think tank and one of the most prominent modern economists, in fact in his own words "one of the world’s leading economists...best known for his work in forecasting" as well as advisor (and cheerleader) to none other than UK Chancellor George Osborne.
First, a little background. From his CEBR background:
Douglas is one of the world’s leading economists and was chosen in 2012 from over 300 applicants to become the Gresham Professor of Commerce.
His Gresham lecture series ‘The world’s greatest ever economic event’ looking at the impact of globalisation on the Western economies has attracted widespread attention and large audiences. He covers all aspects of economics but is best known for his work in forecasting, the economics of the IT and telecoms sectors and transport economics and for his knowledge of the Far East economies. He works with clients who are particularly looking for an economist with a public presence to help make their case.
After setting up Cebr, he was our Chief Executive for 20 years. Previously he was Chief Economic Adviser to the Confederation of British Industry and Chief Economist for IBM UK. Douglas is famed for his communications skills and is one of the most widely quoted economists.
Yes, a "forecasting" economist. That in itself could have been the joke right there, but the real reason why we bring up Professor McWilliams is not due to his seasonally-adjusted oracular abilities but because as the Mail reports, this "world leading" economist also does whatever he can to boost UK GDP through the use of illegal narcotics, or to avoid the political correctness, crack cocaine.
A leading economist is to step down as executive chairman of an influential City think-tank amid drug abuse allegations.
Professor Douglas McWilliams, 63, revealed last night that he is to leave his role at the Centre for Economic and Business Research after footage emerged of him allegedly smoking crack cocaine in a north London drug den. The think-tank, which he founded in 1992, confirmed he will take a five-month sabbatical.
Professor McWilliams, who has also advised London Mayor Boris Johnson on housing, said last night he was ‘taking time off to deal with issues I have not had the chance to address fully when I have been in full-time work’.
It comes just two weeks before the launch of his book The Flat White Economy which tells how London swapped the City’s champagne and supercars lifestyle for bicycles and trendy flats.
Suddenly, the top echelon of politicians are doing everything they can to distance themselves as much as possible, starting with the UK's own Secretary of the Treasury. "Referring to reports that Professor McWilliams was an adviser to George Osborne, the spokesman added that ‘neither he nor any other member of CEBR staff has spoken to or met George Osborne since he became Chancellor’, but that CEBR has ‘briefed or advised all four major political parties’."
The two seen in happier times:

Douglas McWilliams arrives at his London home
Here is why the "world-famous economist" is suddenly non-grata, from the Sunday Telegraph:
One of Chancellor George Osborne’s senior advisers on economic policy has been captured on video smoking crack cocaine in a drugs den. Prof Douglas McWilliams, who last year estimated we would all be £165 a year better off by the election, is seen inhaling it through a glass tube at a flat in North London.
The executive chairman of influential City think-tank the Centre for Economic and Business Research then slumps dazed on a sofa after repeatedly smoking on the makeshift crack pipe involving a miniature Martell Cognac bottle.
Red-faced and slurring his speech, he later told the dealer he had “too much” and that he had spent the day on a binge.
Two rocks of the deadly drug can clearly been seen on a table beside the dazed professor. The grainy footage, seen by the Sunday Mirror, will heap embarrassment on the Chancellor and raise serious questions about his choice of adviser.
A source said: “Last Sunday McWilliams turned up at the den around 10pm and was there about a hour and a half. There were two rocks of the drugs. He smoked it over a table and then sat there all spaced out.
“He was in a suit and started talking about the economy and all that for about 20 minutes. He kept mentioning someone famous he worked with but didn’t make much sense. He was asked if he wanted any more and said ‘I’ve had too much’.”
Oh the irony: On Christmas Day he tweeted about an Office for National Statistics decision to include earnings from drugs and the sex trade in economy figures. He wrote: “Prostitution and illegal drugs help UK overtake France in global wealth league.”
Prostitution and illegal drugs help UK overtake France in global wealth league http://t.co/oSeKRvJ55E
— Douglas McWilliams (@DMcWilliams_UK) December 26, 2014
Little did the world know then that a small portion of the contribution was due to the "economist" himself.
Of course, none of this would actually be a problem and certainly worth the mention if only the CBER wasn't actually taken seriously. As the Mail reminds us, "the think-tank's website states: 'CEBR's clients are mainly public, private, government, professional bodies and third sector organisations. Most are UK based although several have a global reach. We advise 25 of the FTSE 100 companies.' It adds: 'We advise a number of UK government departments and independent government bodies. Recent projects include the Department for Business Innovation and Skills (BIS) and Arts Council England.'"
In December the CEBR claimed Britain's economy would be larger than Germany's by 2030, and suggested that the UK overtook France in 2014 to become the world's fifth largest economy. That would mean smoking a whole lot of crack in the next 15 years...
* * *
The worst news is that now that the entire world has become one massive, and terminal, experimental playground for precisely these Keynesian fanatic world-leading economists, crack cocaine addicted "central planners" is just one more reason why 7 years after QE was started, everyone - except for the 0.01% of course - is wondering: why has nothing been fixed yet? For the answer, please check your local opium den: chance are you will run into at least one "world-respected" economist.
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Douglas is one of the world’s leading economists and was chosen in 2012 from over 300 applicants to become the Gresham Professor of Commerce.
I mean, this isn't a shock.
Anyone who calls this a "recovery", especially in the UK, *has* to be smoking something.
I would have expected him to be snorting it instead of sucking the glass dick though. The upshot is he has a bright political future in canada.
Is he BFF with Mayor Ford. Just asking.
"Mr McWilliams could not be reached for comment."
"Ay yo, Whitey's at the do'. Muthafucka be tremblin' an' shi'."
Too bad the camera didn't pan over a bit, it would have shown his buddy Krugman with 5 rocks!!
Was it:
"The bitch set me up"
or
"Bangin seven gram rocks."
Either way, Winning.
pods
This dude has to go to a crack house? He couldn't have gotten it delivered to a place of his choosing? Shit even I could get it delivered, if I wanteed it, and I've been out of circulation for almost 2 decades.
That's nuts. There's more going on here than just a drug addiction. This dude has some other kind of issues. I mean other than being an economist, poor wretch.
Democracies elite.
So what's worse?
Being a political elitist pedophile?
Or a "forecasting" crack head economist?
What makes you think he isn't both?
Lying is hard for honest people
He did some of his best work in that crack den
"Hey white boy, what you doin' uptown?
Hey white boy, you chasin' our women around?"
(Lou Reed)
But in any case, after making hedonic adjustments and seasonal adjustments, I discover that he wasn't actually smoking anything at all.
That's economics in action.
Well, Yeah! How else could you explain Keynesianism?
exactly
nothing 28 days in the marian barry rehab center cant fix....
Just saved 15 pounds by switching to crack!
Hedonic adjustment!
Sucking the Glass Dick.
Ooooh...But that orgiastic feeling is just sooooooo goooooood.
Crackhead does the shmoney dance while hitting crackpipe in public..
https://www.google.com/search?q=crackhead+does+shmoney+dance&ie=utf-8&oe...
Actually it does make sense that these guys are smoking Crack Cocaine.
How can you have unbridled entushiasm about how well things are going when it is apparent that the nonsense that you spout off has no basis in reality?
Irrational exuberance is just a polite way of saying that someone has been Sucking upon the Glass Penis and is suffering from the Manic Psychosis of the Crack Cocaine experience.
I recall reading that back in the day Keynes and other men of reknown used to get together and get squirreled out on whatever they could get their hands on then have bum dart tournaments.
Some things never change I guess. Every one of those fuckers is compromised and is in to SOMETHING.
How do you get into 'The Club'? Simple. Start w/ a perverse hobby, allow them to take pictures of you engaged in said hobby, and voila, you will now be offered whatever it is your heart desires. You are now easily compromised, so they have no qualms 'making you', because what they 'make', they can 'break'.
This is why sociopaths find entry to the club so easy.
Blows my mind how this isn't obvious to everyone. Ritual initiations exist for a damn good reason.
we are ruled by crackheads, homicidal maniacs and pedophiles. Pick your perversion. The worst humanity has to offer.
This is why no one should expect a good result going forward and why we aren't having a good result now.
Ain't democracy great?
Let Freedum ring in Rahm Emanuel's Chicago Torture Center
Want to come over, splut a bottle of nyquil and watch some movies?
cocaine and opium were all the rage during keynes' time. now it's crack and heroin. it seems hedonic adjustments are not without a sense of irony.
find a copy of Uber Coca by Freud. a good read.
Comedy gold...!
"I would have expected him to be snorting it instead of sucking the glass dick though."
@ Canadian,
Funny you should mention that. One Criminal Psychopath smokes from a Glass dick & the other (Obama) just smokes Reggie's Cock.
Not a big deal. He's on the Chancellor's team of crack economists.
Finally, Larry Kudlow has a fellow economist with whom he can party.
Keynsian crack-heads, FTMFW!
Monetary crank, indeed.
It makes perfect sense actually. It all adds up now. Crack, whores and mirrors.
Damn he looks like Philip Seymour Hoffman.
all junkies look the same, hopium comes in many forms, the last one comes with a toe tag.
Looks more like Brian Cox.
I'm thinking Dr. Rockso.
It's all smoke and mirrors, and, uh, razorblades..
...and minors
Anyone who calls this a "recovery", especially in the UK, *has* to be smoking something.
Hear Hear! +100 They have a thing here called "Zero Hours Contract" (think "On the Water Front" - waiting by the dock for that tap on the shoulder for a day's pay). This is usedto lower the unemployment count (just like the US fiddles with the Employment data to hide participation rates, the UK also tries to be, how does one put it? "Creative") The afflicted would be angry, feeling shame perhaps? No! They've got facebook, and mobile phones and "insert-your-country-here-got-talent"yes and it works. now crawl back under your muslamic rock isil lapdog.
WTF is your malfunction pendragon???
what's a "muslamic" anyway? Is it a Jewish Sect I've not heard of.
Wishing you good mental health - but that really is wishful thinking!
Signed,
The Harmless Jew.
Another conspiracy theory becomes conspiracy fact.
He was just helping boost the GDP.
Now I am finally beginning to understand economists.
As well as their visions of manipulating aggregates.
He picked the wrong week to quit sniffing glue.
Just doing his part to keep the underground economy cracking.
Ohhhh Lawdy Lawdy.....the glass dick of the damn DEBIL done got him!!
If doing cocaine is really a sin - which I very much doubt despite the shrieking opprobrium of the moralist busybodies - it's certainly the least of all sins attributable to the bankers.
Yes, because crack has no effect on judgement. /s
Of course crack has an effect on judgement. Why is that prima facie evidence it should be banned? Caffeine has an effect on judgment. So does highly refined sugar, or television. You're blaming a plant where the problem is the person.
I'm not blaming anything, Mr. Deceptive Presumer.
You're blaming a plant where the problem is the person.
The Plant is okay. Hell he could have enjoyed a Coca Cola in the original formulation. That is not a problem.
But the refined product overloads the Neural System. It is thousands upon thousands of times as strong as the naturally occuring alkaloids found within the plant.
You write about Caffiene? Using Coffee one is not going to overdose or experience psychotic delusions.
But taking too much No Doz will fuck you up as it is the refined product. The beneficial effects of Caffiene in low dosages upon judgment have been proven to outweigh the bad effects. But Caffiene is also highly physically addictive in even low dosages.
But in major doses of Caffiene, overdoses, the consequences of refined Caffiene, as well as refined Cocaine, are fatal.
As for these substances being illegal? I DO NOT SUPPORT THAT.
In fact if you want to use Crack Cocaine then you should have it available to you, cheaply, and in abundance.
You have the right to kill yourself and knock yourself out if that is your desire. I cannot care less.
But just do not DEMAND that I PAY FOR IT.
Understood?
We all pay for the negative effects of the black market for drugs instituted by statute and code.
Overnight, legalizing drugs would eliminate all incentive to traffic.
Err, you will refer to ISSUES and not people. Thank you.
https://www.youtube.com/watch?feature=player_embedded&v=1L-6JBh2mJU
Oh and drugs are BAD! BAD! BAD! BAD! But no people issues kthxbai.
the czar has a point. similar to the one that you are blaming guns, when you should be blaming bullets.
if you don't load the gun, nobody gets killed.
Considering the State sends people to jail under the laws instituded by man and bible's are rarely turned down in prison by people looking for forgivness you are the one shrieking, but nice distraction from the truth, you must work for the government.
While I generally agree with you, hypocracy is as hypocracy does.
'Least of all sins attributable to bankers'?
Who the fuck are you kidding? Wall Street is full of crackheads, junkies, dopers whores...... just like DC is.
Just what was he smoking, anyway?
Ticket to ride a white-line highway
tell all your friends they can go my way
Pay your toll, sell your soul
pound for pound it costs more than gold.
Maybe he picked up the habit partying with Barry?
Which barry? do you mean the infamous-- "fucking bitch set me up, barry? OR.........
I've been doing it wrong all these years, sobering up and putting my nose to the grindstone ... it'd be better put following lines of coke down a hooker's powdered cleavage. Maybe I'd GET that raise.
You'd probably get a raise alright...Flashers like that...
In government work you can't be fired so promotions are a form of sanction. So if you are at the top of the governmental pyramid you are real fuck up. If you are mid level you are too much of a pussy to make waves to get promoted and if you are a low level government employee you are too brain dead to matter. Hope that clears things up for you fuck nuts at NSA.
The Fed fully supports this according to its research on doing blow and risk-taking in the markets.
Sad to be sure, and totally different from how Barry Obama smokes a butt crack!
I sense a crack in the farce.
as if the opinions of hundreds of economists suddenly went up in smoke.
OK, crack usage explains this jack-off's delusional rantings- now what about Krugman's?? Chronic taint-licking??
Crystal meth?
My call on K-Rug is horse tranqs with a side of Nitrous. Look at the hair, the eyes, the cat, the blog, etc.
I say ether.
"There is nothing more helpless and irresponsible than a man in the depths of an ether binge." -- Hunter S. Thompson
I logged in just to up-arrow you for the quote.
DMT...Di-methyl-tryptamine
At times he sounds rational...by declaring the the USA is in a DEPRESSION.
But DMT will cause LUNACY when abused.
The Businessman's Acid.
+1 for K-Rug
The story is spun wrong – at least he has an excuse! What excuse do sober economists have?
Sober economists are Austrians.
"Worlds leading economist"...as much meaning as nobel prize winner it seems
"Far out, man!"
Another conspiracy theory becomes conspiracy fact: They be smokin crack !!!
Positive, but see, they do it boost our GDP.
At least the "GDP" adjusted for hookers and blow.
Musk relieved the Pom didnt smoke all the crack
Gideon Osbourne (the cunts' real name) is a well known cokehead. None of this is a surprise to anyone who understands anything about UK politics.
It is however, hilarious. Hope he has an overdose next time.
I thought they all smoked crack; it's a given. Look at the unicorn feces they pass as sound banking! Crack addicts all, whether cocaine or pushing convoluted banking instruments of unicorn dung.
No doubt Greenspan spent some time in the Strawberry Fields.
How does a 63 year old get involved with crack? Must have been involved with a prostitute, I mean a crack whore.
The street dealers often have crack (they call it "hard" here) I think for convenience and demand on the street but the powder form (called "soft" here) you'd snort sometimes runs out even if only for a day or so.
On a binge his regular dealer shows up and says "small problem I couldn't get the powder but I've got this hard form (crack)", the regular user of cocaine has been jumping through his skin in expectation of getting some cocaine makes a quick decision, either spend the next hour or two trying to corral some dealers with cocaine or give the crack a go.
Addicts/users who are getting anxiety for a fix will usually try the crack no matter the age. I've seen it before...
He watched too many episodes of BB.
This is added to the GDP ...right..so it is a good thing...he needs hookers too...
I'll stick to my reefer ain't messin around with no cocaine
Very economic. Crack is relatively inexpensive, hence its popularity in the 1980s.
Tyrone Biggums: Remember what the Bible says: He who is without sin, cast the first rock. And I shall smoketh it.
Yep,
That's what you call a crack up boom.
These idiots do not even have the decency to smoke weed.
FIAT Currency "Up In Smoke!"
Bring back Cheech and Chong!
HeHe, Up In Smoke.
How 'bout Blackberry Smoke?
https://www.youtube.com/watch?v=IuujxNDydm0
edit:
Seems nobody gives a shit, but Blackberry Smoke owes its' name to Rich Robinson. Rich, and his younger brother Chris, are the founding members of The Black Crowes. Chris married Goldie Hawn's daughter... remember?
Rich and Charlie were schoolmates at Wheeler High, IIRC.
If you're wondering who Charlie is- he's the lead protagonist in Blackberry Smoke.
For some reason, he assumed the name Charlie Starr- when his family name is Gray.
Maybe it's the same reason Richard Starkey became Ringo Starr, but I still don't get it.
I love this story.
"World-Leading Economist" And Advisor To Chancellor Osborne Busted For Smoking CrackThis is a headline?? I had assumed that all world-leading economists were on crack. Must have been wrong......
"economists are smoking crack"
For sure! And doing Heroin.
You just can't make this shit up.
Don't know if WB can improve on this 'news'...
Can't wait for the picture of Krugman smoking crack - then I will have been proven correct.
We need some one armed economists
Maybe he is in the "children fucking/killing business" too, like the rest of the bunch.
Well...
...been saying the bankers were high on crack for years.
What was the crack's name that he was smoking & were they equipped with any silvadine?
So Economist are future druggies.
The elite have such long leashes.
Sounds like he was either trying to recover from his binge to get back to the office or trying to extend the binge.
You cannot make this stuff up they would not believe you.
Must smoke crack with Krugman. It is all starting to make some sense finally.
"Here is why the "world-famous economist" is suddenly non-grata, from the Sunday Telegraph"
That is just the how, for sure there's another reason why.
Throw him in jail for life like any government would do for such an offense.
Finally, some news that makes sense.
HAHAHAHAHAHAHAHAHA. Damn....
Smoking crack is so low. He couldn't afford some good cocaine? Sheesh. How embarrassing. Colombians call the stuff "basura" for a reason.
A 5-month sabbatical with his long time buddy, Rob Ford
I am Jack's complete lack of surprise.
Well, now that we're done uncovering the dope in the UK establishment, we can get on with the pedophilia.
That can be easily found in the US State Dept
http://www.foxnews.com/politics/2015/02/25/senior-state-dept-official-ar...
Wi Tu Hi.
Fuck Big Crack !
KNOCK ME OVER WITH A FEATHER!!! You mean to tell me a guy who was part of the group that supported the "you can spend your way out of debt" idea IS ON CRACK?! i seriously gigglesnorted out loud reading this confirmation of everything anyone needs to know about why QE is a bad thing... at least it all makes sense now, crackheads control world economic ideas.
we're living in a country run by the tory freak brothers.... but it's not funny.
When PM "Sell Gold at the bottom" Brown was caught on video .... sneaking a booger .... then eating it .... in Parliament .... I was a little embarrassed for my race .... later, I realized .... it was the most endearing thing he ever did ! LOL
Chancellor Pinkman Osborne
Breaking Bad
Did someone turn him in because he was bogarting the pipe?
Crackpot economics shows it's core. I sort of wonder what the "war is gonna make us all rich" economists could be deluded with?
But enough of those freaks. I'm down to the cellar with my cup. Prosit !
"Crackpot" economics. +100
And I had thought the central bankers must be figuratively smoking crack!
As her blathers on about economic's, those in the room say Shut the Fuck Up Bro, who gives a shit what a crackhead has to say.
I assumed Krug man did.
well, there you have it-the elite do hard drugs and young children-
Our Paul Krugman has been calling out a George Orson Welles [Alien Invasion] to turn US economy around in eighteen months. Drug abuse is treatable, not mental illness.
How to Fix the Economy (part 1 of 2)-- August 14, 2011
How to Fix the Economy (part 2 of 2) -- August 14, 2011
Yeah, he went to college which means he does drugs, big deal.
What's important is that he needed to do it in what used to be known as an opium den rather than having his friendly dealer deliver it to his house where he could lift off in private.
This speaks of a serious fetish issue that goes way beyond cooking up a few foils. He probably likes being caught and would prefer a spanking, hard please.
Whoa - I thought this news flash was a ' you can't make this shit up' but you're taking this to a new level. Wow - I really don't get out enough
Dutch embassy smokes DC mayor’s office over pot remark
"Officials in Washington, DC say the district’s new lax marijuana rules are a far cry from what’s on the law books in Amsterdam, but the Dutch embassy begs to differ.
As of last week, adults in the United States capital could legally possess up to two ounces of marijuana but are still barred from smoking up in public. In preparing the city for the shift in policy, Mayor Muriel Bowser said last week that DC won’t become “like Amsterdam,” where pot shops aplenty have made the Netherlands a tourist destination for weed enthusiasts.
On Thursday, the Dutch embassy in DC published a blog post where its authors alleged that being “like Amsterdam” is anything but bad."
http://rt.com/usa/236977-amsterdam-washington-dc-marijuana/
An accompanying chart – dubbed a “trolly infographic” by the Washington Post’s Wonk blog – has since made waves on the internet, and not just on the foreign embassy blogosphere: Other sites have since picked it up as well.
Whose idea was it to include hookers and blow in the GDP figures?
With all the rumours doing the rounds - which won't go away - about Cameron and Osborne being partial to Colombian Marching Powder, obviously McWilliams didn't want to be left out and seen by them as an old stick-in-the-mud.
When the UK economy finally cracks up, we'll know what he means.
NEWS FLASH: Another conspiracy theory becomes conspiracy fact - Worlds leading economists are smoking crack.
ColoQ, been saying that virtually every ZH article recently !!!
btw is this economics on the rocks ?
They're all on crack.
A chap who I was in prison with claimed to be a supplier to two future Irish prime ministers. I don't doubt that what he said was the truth.
Tea shop guy Gerry or Martin?
No. Both politicians have already been prime minister. The guy who sold to them did so before they became prime minister.
Sorry - your latest school teacher TeaShop Enda - where is he going? And Noonan being a financial light at the EU - really?
Keep fishing.