Yea, I don't discuss economics with RH because he doesn't understand it, it was more for other people's general knowledge. It also had nothing to do with "propaganda", it was just a chart I was viewing today after the Unemployment numbers came in and the market tanked 300 points. What did they expect? 95% of the increase came in the form of public sector/consensus jobs, and this isn't a sign that not only is REAL unemployment going to continue to go up, but Obama has increased government jobs/public sector to scary levels. I mean the last thing I want is more government expansion...
I'm not sure why you feel the need to butt into discussions that don't concern you, and defend people that are more than capable of defending themselves(I think). Stupid women.
You know, out of curiosity, I wonder how many people know that the Fed doesn't actually set interest rates and that they just lower their own and all the other banks follow suite.
Or does it work differently? I took Economics 101 last year and its starting to fade (too much crammed into 11 weeks.)
Not sure why that's funny. Yes, there are many different schools. The first one was Classical, I happen to follow the most logically sound one (Austrian), and Keynesian is a joke.
For instance, Keynesians think increased government spending will stimulate a depressed or stagnated economy. Keynesians also focus on the demand side of economics rather than the supply side. Bernanke thinks that at zero interest rates, people will borrow money like crazy and spend that money to "stimulate the economy". What Bernanke still fails to realize is that we're in this mess in the first place(mostly), because people are spending beyond their means, yet giving them even more opportunity now. However, people are slowly saving again, and unemployment is increasing, so the only thing Bernanke's plan is doing is debasing the value of the dollar and leading it to eventual collapse. The only reason it's gone up is because the Euro has plummeted. Give it a month and the Euro will be back up.
It wasn't a dig at you, I just thought it was funny since given how often we argue over philosophy, I found it amusing that there was an entire subset of Social Philosophy devoted to economics.
Jun 4th, 2010 06:31 PM
FER TEA!!
