The best economic article EVER...

The best economic article EVER... (Full Version)

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gift4mistress -> The best economic article EVER... (11/29/2009 11:20:36 AM)
For those of you who don't understand economics, this article is the best read for you. It explains the correlation between interests rates and the consumer; also, why the federal reserve almost always gets the interests rates wrong. In addition, it shines light on how America got out of its Depression that happened in the 1920s and 1930s. Then, he explains what they did differently between those two eras. http://mises.org/daily/3788 At first, this article may seem complicated but if you take your time reading it; you'll understand it.

willbeurdaddy -> RE: The best economic article EVER... (11/29/2009 11:28:14 AM)
quote: ORIGINAL: gift4mistress For those of you who don't understand economics, this article is the best read for you. It explains the correlation between interests rates and the consumer; also, why the federal reserve almost always gets the interests rates wrong. Also, it shines light on how America got out of its Depression that happened in the 1920s. And, how the depression occurred in the 1930s. Then, he explains what they did differently between those two eras. http://mises.org/daily/3788 Be sure when you read this to take your time. It may seem complicated but if you take your time reading it; you will understand it. And if you take your time reading the background of mises.org, you should also take the time to understand that these are just one set of economic theories, and in fact makes some assumptions that range from flat out wrong to questionable. The problems with Austrian economics

gift4mistress -> RE: The best economic article EVER... (11/29/2009 11:56:40 AM)
I understand that their are various types of economics that exist. As such, it is important to learn as much as possible about all of them. However, I found that particular article to articulate some aspects of the economy in a way that is easily understandable. Also, some of what is explained in the article does make sense even though much of it may be perceived as extreme. If you don't mind me asking: what form of type of economic theory do you support the most?

Lorr47 -> RE: The best economic article EVER... (11/29/2009 12:09:15 PM)
quote: , and in fact makes some assumptions that range from flat out wrong to questionable. /quote] Might be nice if you used such a disclaimer.

mnottertail -> RE: The best economic article EVER... (11/29/2009 12:13:44 PM)
no, you dont have to waltz around with phantasmagorical theories, here is how it works, money is a placekeeper for goods and services.....you need goods and services, and everyone wants to own a caddy, and most cant afford to own the caddy. You promise, you keep it, you get another shot, you don't you won't. That is all there is to it, anything else is putting sparkly feather boas on your cock. They suck, because, they don't suck, because......... Got it? Get it? Good!!!! Ron

willbeurdaddy -> RE: The best economic article EVER... (11/29/2009 12:28:36 PM)
quote: ORIGINAL: gift4mistress I understand that their are various types of economics that exist. As such, it is important to learn as much as possible about all of them. However, I found that particular article to articulate some aspects of the economy in a way that is easily understandable. Also, some of what is explained in the article does make sense even though much of it may be perceived as extreme. If you don't mind me asking: what form of type of economic theory do you support the most? behavioral economics/behavioral operations research (the antithesis of Austrian economics in one important way...Austrians eschew empirical results, content to be "theoretically correct" even if real world results differ)

Fellow -> RE: The best economic article EVER... (11/29/2009 7:38:30 PM)
It seems to me, in analyzing the economy situation too much emphasis is put on financial policies. At the same time we have excessive inventories of real estate, cars and pretty much everything else (Chinese can delver in short notice). The crisis could be viewed as overproduction crisis where people do not need more capacity for goods and services. There is simply nothing that would drive the growth of the economy. WW ii in the past generated huge demand for consumer goods and this demand with US strong industrial base created jobs, income and everything else.

willbeurdaddy -> RE: The best economic article EVER... (11/29/2009 8:12:06 PM)
quote: ORIGINAL: Fellow It seems to me, in analyzing the economy situation too much emphasis is put on financial policies. At the same time we have excessive inventories of real estate, cars and pretty much everything else (Chinese can delver in short notice). The crisis could be viewed as overproduction crisis where people do not need more capacity for goods and services. There is simply nothing that would drive the growth of the economy. WW ii in the past generated huge demand for consumer goods and this demand with US strong industrial base created jobs, income and everything else. Its a chicken and egg question. Excess inventories and overproduction generally aren't an initial cause of economic problems, but they are a symptom and make recovery more difficult. Demand has to be jumpstarted to first deplete the inventories and then expanded into need for production. Massive government spending is the approach being taken to jumpstarting the economy, both through direct nssubsidies and hiring for pork projects. There is no question that an initial jolt can be provided by those policies. It is the gamble Obama is taking for the 2010 and 2012 elections, and if the timing is right the gamble is a good one. The problem is that evenutally that MUST dampen any possible natural recovery to the point where it takes war or discovery/innovation to even get back to slow employment growth.

tazzygirl -> RE: The best economic article EVER... (11/29/2009 9:35:22 PM)
Very true, willbe (god, im actually agreeing with you.. lol). War created jobs and production. At the same time, industries were busting with new technology. Men went to war, making money. Women stayed at home... and went to work... again making money. Money to spend on the latest luxuries and fads. This time, whats the new "industry"? What hasnt been created/developed? Everything at this point is being tweaked, improved upon, made "faster, stronger, better "... but what frontier is left to explore and exploit?

NewOCDaddy -> RE: The best economic article EVER... (11/29/2009 10:32:08 PM)
quote: ORIGINAL: tazzygirl Very true, willbe (god, im actually agreeing with you.. lol). War created jobs and production. At the same time, industries were busting with new technology. Men went to war, making money. Women stayed at home... and went to work... again making money. Money to spend on the latest luxuries and fads. This time, whats the new "industry"? What hasnt been created/developed? Everything at this point is being tweaked, improved upon, made "faster, stronger, better "... but what frontier is left to explore and exploit? The two big topics of the day will probably be the areas of greatest economic growth...energy and medical/pharma. And the greatest danger in Cap and trade/green policy and health care "reform" is that it will impede research in those areas.

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