Why do people argue about economics when the economists don't even know how the economy works?
Not A Fool
2012/02/17 07:02:18
People get on soda head and argue with each other about economic solutions when the actual "economists" can't even agree and give contradictory advice to the elected officials, and the businesses do stupid things like bundle loans together and resell them and bankrupt the country. Alan Greenspan, the person who EVERYONE has turned to for economic advice for the last 20+ years said, after the 2007-2008 collapse, "I didn't see it coming." And yet we get on forums and argue with each other about what will work and which elected official or which political party is best qualified to "turn it around", like we're all in the know somehow.
Everybody seems to think that at certain times when the economy seemed to be going okay for a few years that the current administration had something to do with it. But at ANY time when one business sector was booming there was still too much poverty and unemployment and some other sector was hurting and people were complaining that something needed to be done.
The reason that people, economists and politicians don't know how to really run or control the economic system is because the system itself is completely unstable. Since 1929 there has been 2 major depressions and another 10 crises where the government had to "take severe measures" to avoid a collapse. That's 12 major problems in 80 years; that's one every 7 years. That's NOT a good system. Boom, bust, boom, bust. The best time, really, was during and immediately following the Second World War. So it's a great system during war. Other than that they've experimented with regulations and deregulations, outsourcing, unionizing, union busting, benefits, cutting benefits. They don't know what they're doing.
So why do we argue with one another as if we've got some insight they don't? Why do we think that Reagan or Gingrich, Clinton or Obama have any better grasp on this roller coaster than the next guy?
Everybody seems to think that at certain times when the economy seemed to be going okay for a few years that the current administration had something to do with it. But at ANY time when one business sector was booming there was still too much poverty and unemployment and some other sector was hurting and people were complaining that something needed to be done.
The reason that people, economists and politicians don't know how to really run or control the economic system is because the system itself is completely unstable. Since 1929 there has been 2 major depressions and another 10 crises where the government had to "take severe measures" to avoid a collapse. That's 12 major problems in 80 years; that's one every 7 years. That's NOT a good system. Boom, bust, boom, bust. The best time, really, was during and immediately following the Second World War. So it's a great system during war. Other than that they've experimented with regulations and deregulations, outsourcing, unionizing, union busting, benefits, cutting benefits. They don't know what they're doing.
So why do we argue with one another as if we've got some insight they don't? Why do we think that Reagan or Gingrich, Clinton or Obama have any better grasp on this roller coaster than the next guy?
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- S. Gompers 2012/02/17 09:26:04
Everybody is an expert, what are you talking about, LOL...reply
