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  1. #21
    ^He pronks, too! Magic Poriferan's Avatar
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    Quote Originally Posted by avolkiteshvara View Post
    Not all economist said this. It was mainly the ones employed by the financial industry.

    I remember hearing some English economist on BBC back in 2005 predicting this. Paul Krugman was talking about this way before it happened. You just have to know where to look girlfriend.
    Some people were bound to get it right. I don't remember the name, but that was at least one person who said what was going to happen almost to the letter. But do you know how many people are employed as economists these days? There are people saying everyhting you can imagine out there. The problem is, I think the field is such that nobody actually knows where to look.
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  2. #22
    Senior Member avolkiteshvara's Avatar
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    Quote Originally Posted by Magic Poriferan View Post
    Some people were bound to get it right. I don't remember the name, but that was at least one person who said what was going to happen almost to the letter. But do you know how many people are employed as economists these days? There are people saying everyhting you can imagine out there. The problem is, I think the field is such that nobody actually knows where to look.
    Mercury mentioned John Stewart. He grilled Jim Cramer on his show. Cramer basically came out and said that everyone should've have known better. That they chose not to see it or even look because no one wanted the good times to stop. Everyone knew it would happen. It was just a question of when. Everyone trying to get their piece before the whole thing blew up.

    Only, the average guy voted in GW Bush, supported the Iraq War, and was dumb as a fucking rock.

    One good thing came out of it though. Bernie Maddoff and other ponzi schemers were exposed.

  3. #23
    Senior Member Lateralus's Avatar
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    Quote Originally Posted by avolkiteshvara View Post
    Do they have a bad track record?
    Yep, economic cycles have become more extreme in the era of the Fed.

    So the Fed doesn't have all the info to predict inflation, but you are going to let us know when hyperinflation hits. Why can't humans have enough knowledge to make decisions on adjustment of interest rates?
    Now you're just putting words in my mouth. I didn't give a definite time frame.

    Have you taken any college courses in Econ?
    I have, but how is that relevant? Is it not possible to learn outside of institutional environments?
    "We grow up thinking that beliefs are something to be proud of, but they're really nothing but opinions one refuses to reconsider. Beliefs are easy. The stronger your beliefs are, the less open you are to growth and wisdom, because "strength of belief" is only the intensity with which you resist questioning yourself. As soon as you are proud of a belief, as soon as you think it adds something to who you are, then you've made it a part of your ego."

  4. #24
    Dreaming the life onemoretime's Avatar
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    Debt situation is still catastrophic. Option ARMs are popping left and right. There are many more of these with a lot more money wrapped up in them than there were in the subprime category.

    September and October should be bloody as hell. We might be able to start talking about recovery in 2012.

    Debt deflation is inevitable and nearly impossible to stop once begun - only ameliorated. Bad debt has to clear the economy.

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