05-27-2016, 03:44 PM
(05-26-2016, 11:52 AM)pbrower2a Wrote: > Do Keynesian economics well, and you prove the Austrian school
> wrong. Do Keynesian economics badly, and you will get the results
> that prove the Austrian school right. Sponsor a corrupt
> speculative boom (the "Ownership Economy" of George Worthless
> Bush), and get an economic meltdown. The Double-Zero Decade was
> practically a replay of the 1920s, and Sinclair Lewis'
> Babbitt caught the mood of both decades very well as it
> caught the mood of no intervening decades from the 1930s to the
> 1990s.
> I could see the 2007-2009 crash coming when I read a Business
> Week article exposing the ratings scandal on packaged
> mortgages. It's possible to hedge risks on large volumes of
> well-performing risks of fault (or as in insurance, on large-scale
> catastrophes), but the packaging of fecal loans has no such
> value. Those loans should have never been made.
I'd be interested in seeing something where you made such a prediction
in 2006-7. Perhaps you can find something in the tft archive.
http://generationaldynamics.com/tftarchive
If you're going to blame the 2007-9 crash on Bush, then you have to
blame the 2000 Nasdaq crash on Clinton, and you have to blame the
approaching crash on Obama. Actually, if you're going to be
political, then you could blame both the Nasdaq crash and the 2007
crisis on Clinton.
In fact, none of that is true. Keynesian economics is completely
wrong because it doesn't take generational theory into account. The
Austrian school is completely wrong because it doesn't take
generational theory into account. No politician could have either
caused or prevented any of the bubbles or crashes we're seeing. The
1990s bubble occurred because that was exactly the time that the
survivors of the 1929 crash and Great Depression retired. The
mid-2000s credit and real estate bubbles occurred because the
destructive, self-destructive financial engineers of Generation-X
wanted to to screw their fathers, and ended up screwing everyone.
You might find it intesting to know that the real estate bubble
began in 1995.
** The housing bubble began in 1995.
** http://www.generationaldynamics.com/pg/x...tm#e090908