by TheDoctor » Thu 28 Feb 2008, 20:35:48
$this->bbcode_second_pass_quote('mark', 'E')conomist will overwhelm themselves with data and call it information. They will complicate the so-called science of economics with Keynesian doublespeak. Then pronounce that only the anointed, like them, are capable of understanding the tea leaves. If you, like them, believe that, then no, I don't have all the information.
On the otherhand, you could avail yourself of another school of thought, the Austrian model. You'll find things clear up right away.
Amen! I first got introduced to the Austrian model in 2003 when I tried to convince a friend about peak oil. He told me I was nuts and that the US economy was a bigger issue to worry about. Looks like we were both right! Peak Oil vs. Peak Debt - which will destroy us first? I've hedged my finances about equally both ways. I won't get rich, but I won't be destroyed by choosing the wrong side either.
Isn't "doctor of economics" an oxymoron? Why they ever started handing out Nobel prizes to these pseudo-science financial astrologers is beyond me. Bernake spent way too much time in Ivy-League acedamia. He has no clue how the "real world" works let alone what is required to minimize the pain soon to be inflicted upon us. I.e., a short duration of extreme pain - allowing insolvent banks and businesses and homeowners to go under along with their debt - would be better than fighting the inevitable through further debt creation and monetary debasement - which is what they will unfortunately do, just as Japan did for over a decade and continues to do.