collapse of the 'rational market'
 

"bpuharic" wrote in message
...
On Sun, 24 Jan 2010 13:15:23 -0800, "nom=de=plume"
wrote:




exactly. he seems to think a 'correction' is fine if the middle class
has 25% unemployment, as long as the rich come out intact

typical right wing nut


It's a well-known economic, capitalism model that's been around since the
mid-50s (and perhaps earlier). Milton Friedman was part of the movement
that
promoted that sort of laissez-faire model, wherein all restrictions are
removed. It has never worked and will never work.

it was a fundamentalist view of economics that served the rich with
its mythology.

now it's turned out like a water balloon against a chain saw


Correct. It was a philosophical belief that doesn't work in the real world.
Even dictators wouldn't implement it fully.

--
Nom=de=Plume

collapse of the 'rational market'
 

"Canuck57" wrote in message
...

One thing all these economists seem to have in common .....


..... is they are constantly in disagreement.

Economists are second only to weather forecasters, IMO. Half call for
rain, the other half
for sunshine.

Only when there's a foot of it, do they all agree it's probably snowing.

Eisboch

collapse of the 'rational market'
 

"thunder" wrote in message
t...
On Sun, 24 Jan 2010 19:15:13 -0500, Eisboch wrote:


.... is they are constantly in disagreement.

Economists are second only to weather forecasters, IMO. Half call for
rain, the other half
for sunshine.

Only when there's a foot of it, do they all agree it's probably snowing.

Weather forecasters? I can't think of any field where you get paid so
much, to be wrong so often. Granted, it's very difficult under the best
of circumstances, but... True story, years ago I did some work for the
weather forecaster for a national morning show. He wasn't the talking
head, but the behind the scenes forecaster. Anyway, I told him I had a
bone to pick with his accuracy. He explained to me, the powers that be,
sometimes told him to shade his forecasts.

Since then, I've noticed the first snowfall of the season is generally
talked up into more than it is. Later, when we are all sick of snow,
they are talked down. And for the morning shows, especially, they like
to send you off with a cheery mood. The scary part, if they are willing
to shade something as simple as weather, what do you think they are
willing to do with the news? I've since stopped watching television for
anything more important than a football game.


Oh, so true. And re-runs of the Andy Griffith show. Helen Crump was hot.

Eisboch

collapse of the 'rational market'
 

On Sun, 24 Jan 2010 19:15:13 -0500, "Eisboch" wrote:


"Canuck57" wrote in message
...

One thing all these economists seem to have in common .....


.... is they are constantly in disagreement.

if only they were THAT consistent.


Economists are second only to weather forecasters, IMO.

methinks thou doest a disservice to weather forecasters. at least they
know when a hurricane is coming. a weather forecaster, operating as an
economist, would see 150 mph winds and 20" of rain and call it a small
market correction

collapse of the 'rational market'
 

On 24/01/2010 5:15 PM, Eisboch wrote:
wrote in message
...

One thing all these economists seem to have in common .....


.... is they are constantly in disagreement.

Economists are second only to weather forecasters, IMO. Half call for
rain, the other half
for sunshine.

Only when there's a foot of it, do they all agree it's probably snowing.

Eisboch

Quite true. And by the time they agree it is snowing, it has melted.
Debt markets are the same, buy rhe time it goes from AAA to AA- it
probably is a BB-. That is, if it was ever a AAA to begin with, as in
ABCP paper.

Best not to really formulate a prediction, but rather to be prepared for
either up or down.

Big issue though is debt is such a huge problem now in US, Japan, Canada
and Germany... and China tightening up is worrysome. A game of ecomonic
MAD - mutual assured destruction by governments and banks for the rights
to rape peoples wealth.

collapse of the 'rational market'
 

"Eisboch" wrote in message
...

"thunder" wrote in message
t...
On Sun, 24 Jan 2010 19:15:13 -0500, Eisboch wrote:


.... is they are constantly in disagreement.

Economists are second only to weather forecasters, IMO. Half call for
rain, the other half
for sunshine.

Only when there's a foot of it, do they all agree it's probably snowing.

Weather forecasters? I can't think of any field where you get paid so
much, to be wrong so often. Granted, it's very difficult under the best
of circumstances, but... True story, years ago I did some work for the
weather forecaster for a national morning show. He wasn't the talking
head, but the behind the scenes forecaster. Anyway, I told him I had a
bone to pick with his accuracy. He explained to me, the powers that be,
sometimes told him to shade his forecasts.

Since then, I've noticed the first snowfall of the season is generally
talked up into more than it is. Later, when we are all sick of snow,
they are talked down. And for the morning shows, especially, they like
to send you off with a cheery mood. The scary part, if they are willing
to shade something as simple as weather, what do you think they are
willing to do with the news? I've since stopped watching television for
anything more important than a football game.


Oh, so true. And re-runs of the Andy Griffith show. Helen Crump was hot.

Eisboch

Have Gun, will travel was on tonight.