World will avoid a repeat of 'Great Depression' - economist

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maveri's picture
maveri
Status: Silver Member (Offline)
Joined: Nov 20 2008
Posts: 159
World will avoid a repeat of 'Great Depression' - economist

Title Quote: World will avoid a repeat of 'Great Depression' - economist

http://www.news.com.au/business/story/0,27753,24873703-31037,00.html

Why is it economists refuse to consider anything beyond money?

Only recently here in Australia have there been articles linking population/baby boomers and the recession. There blaming the baby boomers now for lengtheing the recession till mid - late 2009.

http://www.news.com.au/business/story/0,27753,24868470-462,00.html

The government here is begging - yes, begging companies not to lay off people!

Still, the general attitude is that things will bounce back and if you have a job then your laughing because with low interest rates and low fuel, your on a winner.

Such is the dribble that economist are saying - at least in Australia.

Others are saying that Gold is a dodgy investment based on where is all the money going to come from to be buying up the gold anyhow?

I'm not advocating these positions by any means - just keeping people informed about what sort of things the media over here are allowing through to the public. Mushrooms - kept in the dark and fed on manure!

Dogs_In_A_Pile's picture
Dogs_In_A_Pile
Status: Martenson Brigade Member (Offline)
Joined: Jan 4 2009
Posts: 2606
Re: World will avoid a repeat of 'Great Depression' - ...

At least you know you are a mushroom - that's half the battle. 

Here in the US 90% of Americans allow the latest infomercial to tell them what they are or what they need or what they lack.  And they seem quite content that the amalgam of idiots in Washington DC (on both sides of the aisle) have hung a "Bailouts R Us" sign on the dome of the Capitol. 

My entire office at work has been through The Crash Course (at my urging) and a day doesn't pass where we don't delve into some aspect of what we have learned and what we think is coming.  It astounds me when someone from another department is listening in and comes up with a gem like:  "Oh, I'm not worried.  The government will do something.  They always do."

The look on their faces when I ask them if they truly think that the people responsible for getting us into the current mess will be the ones to lead us out of it is priceless and would be funny if it didn't reflect such a sorry state we are in.

 

"Everyone knows something you do not.  Learn from them."  Sifu Bruce Lee 

 

mainecooncat's picture
mainecooncat
Status: Gold Member (Offline)
Joined: Sep 7 2008
Posts: 488
Re: World will avoid a repeat of 'Great Depression' - ...

Hey Dogs in a Pile,

I saw your name at the bottom of the screen last night (in the Who's online section) and thought to myself why is that phrase -- Dogs in a Pile -- playing melodically in my head. Then it came to me. I said when they post something I have to ask them. But your symbology has already answered my question. Glad your among us.

Signed,

Cat on a tin roof

mainecooncat's picture
mainecooncat
Status: Gold Member (Offline)
Joined: Sep 7 2008
Posts: 488
Re: World will avoid a repeat of 'Great Depression' - ...

Maveri insightfully asks: "Why is it economists refuse to consider anything beyond money?"

Well to paraphrase Nassim Nicholas Taleb it's because they think that the world is part of something called the economy instead of the economy that is part of something called the world.

By the way, Taleb's most recent book "The Black Swan" is quite a journey. He skewers economists in a way that would make Vlad the Impaler wince for their myopic models and a that-could-never-happen-to-us arrogance.

Dogs_In_A_Pile's picture
Dogs_In_A_Pile
Status: Martenson Brigade Member (Offline)
Joined: Jan 4 2009
Posts: 2606
Re: World will avoid a repeat of 'Great Depression' - ...

Mainecooncat -

 Nothin' left to do but smile, smile, smile.

 

I've actually been here quite awhile vicariously (was that a split infinitive?) through my wife.  She sends me newsletter updates daily and I dole out excerpts to a small group of people at work - all Crash Course veterans - and we are slowly building (that was a split infinitive) a network of informed people.

Hope things are well and that there isn't any snow on your tin roof.  Especially if you live in Bigfoot County.  You know,

"Tumble down shack, in Bigfoot County, Snowed so hard, the roof caved in"

Never mind. 

See you around the forum.

________________________________________________________________ 

"Everyone knows something you do not.  Learn from them."     Sifu Bruce Lee 

mainecooncat's picture
mainecooncat
Status: Gold Member (Offline)
Joined: Sep 7 2008
Posts: 488
Re: World will avoid a repeat of 'Great Depression' - ...

Oh, I know. That's one of my faves.

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