Mise
isle of lucy
Inno... what are you trying to prove with all this? What's your hypothesis?
Ask an Economist (Post #1005 and counting)
- Thread starter JerichoHill
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JerichoHill
Bedrock of Knowledge
The investor cannot control for inflation. That's asking you to control the weather. Impossible. We can only manage what we can actually manage. That you're asking for more is the impossibility.
The graph I posted is indeed correct.
The graph I posted is indeed correct.
Veritass
Emperor
What happens when a government declares bankruptcy? It looks to me like all levels of government in this country have created a system where they cannot or will not create a budget and work within it. I cannot do anything to change this, but I am trying to understand better what happens when push finally comes to shove.
City
We have the city of Vallejo, California declaring bankruptcy due to overextending retirement benefits to the government employees' unions, which looks like it will be repeated throughout many cities throughout the state if not throughout the country.
County
Several years ago, Orange County, California declared bankruptcy. I live in Orange County, but I never saw any actual effects of this happening. They said it had effects on the ability of the county to borrow, but what effect does that really have on anyone? Who does it hurt, and how does it hurt them?
State
Now that we finally have a state budge proposal, it sure looks to me like the budget workarounds that California keeps putting into place instead of actually controlling spending are going to bankrupt the state at some point. So who ends up getting screwed? Are those retirement accounts suddenly part of a bankruptcy allocation of funds? Are they gone? Are they reduced?
Federal
Is there any point at which the U.S. goes bankrupt, or do we just print more money and deal with the devaluation at some point?
City
We have the city of Vallejo, California declaring bankruptcy due to overextending retirement benefits to the government employees' unions, which looks like it will be repeated throughout many cities throughout the state if not throughout the country.
County
Several years ago, Orange County, California declared bankruptcy. I live in Orange County, but I never saw any actual effects of this happening. They said it had effects on the ability of the county to borrow, but what effect does that really have on anyone? Who does it hurt, and how does it hurt them?
State
Now that we finally have a state budge proposal, it sure looks to me like the budget workarounds that California keeps putting into place instead of actually controlling spending are going to bankrupt the state at some point. So who ends up getting screwed? Are those retirement accounts suddenly part of a bankruptcy allocation of funds? Are they gone? Are they reduced?
Federal
Is there any point at which the U.S. goes bankrupt, or do we just print more money and deal with the devaluation at some point?
Why do you think Economists lean Democrat?
innonimatu
the resident Cassandra
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That we can't really understand or control the economic system we live in. Lots of theories around, and they all fail. Economics is not a science, in fact it isn't at all separate from all other social issues, and that's why we can't tame "the economy". We can only work on issues one by one, and must always do so taking into account those "non-economic factors" that so many economists would rather ignore. What people wish, which is different from what they can do, and different from what they are doing. Who holds power and what are the goals of each main actor on our daily drama. Ultimately, what are our goals and what world we want to live in. What does "efficiency", "wealth", "justice", etc. mean to us, because they can mean many different things.
The "simple truths about economics" are one of the most powerful forms of propaganda in use. I dislike propaganda, of all kinds. Call me a militant skeptic.
And despite my frequent arguments with JH, he at least has not claimed to be one of those mathematical economists who believe they can control the economy. Still, he has too much faith in his profession.
Bigfoot3814
Deity
Are we screwed?
JerichoHill
Bedrock of Knowledge
Were you planning on retiring soon? If not, no.
Bigfoot3814
Deity
Nah, I just wanted to know whether or not to invest in a bindle.
JerichoHill
Bedrock of Knowledge
And despite my frequent arguments with JH, he at least has not claimed to be one of those mathematical economists who believe they can control the economy. Still, he has too much faith in his profession.
Inno,
I'm an Austrian economist. We abhor mathematical zealots. I disagree though that we can't understand a good bit about how we interact and trade. All it takes is alot of good observational learning and studying.
And it's not that I have faith in my profession per se. I have faith in humanity, in general.
Perfection
The Great Head.
Is home economics a real field of economics?
Fifty
!!!!!!!!!!!!!!!!!!!!!!!!!
I've noticed that your most common argument, at least here, for the assertions you make is "I'm an economist". So when two economists have a disagreement, and they each back up their position with "I'm an economist", what happens then?
MagisterCultuum
Great Sage
All of them I know seem to lean Republican. Granted, I don't know a lot of them, but both my High School Econ teacher and my College Econ Professor were big Bush fans.
JerichoHill
Bedrock of Knowledge
I think a more realistic answer is that worldwide demand for those products has increased. More buyers after a product means the price gets bid up.
JerichoHill
Bedrock of Knowledge
Nope
Sigh. You know Fifty...I'm an economist.
In all seriousness, I make alot more arguments that that trite saying, and you know that Fifty. I'm disappointed. That this thread was the first of the Ask a ... and still is going on, says that I say more than "Im an economist!"
A majority of economists are democrats. Suprising, yes?
innonimatu
the resident Cassandra
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I'd expect that to happen, slowly, as China and India develop. But that can't alone explain the sudden rise in prices seen during the last few years. I'm not a "monetarist", but I get the impression that a lot of money was thrown at commodities in typical bubble fashion. With food and metals, at least, of which there is no shortage. Oil should be a different matter.
Yes. Do you know anything as to why that is?
Is there like a link to the study? My hardcore libertarian friend in economics doesn't believe me.
I dunno! Before I took economics, I was like +2 on the economic scale. After, I'm -2.
BIZARRE!
What classes did you take?
Bigfoot3814
Deity
What do you say when Lewis Black says: "The economy goes up, it goes down, it goes up, it goes down, it goes up, it goes down, it goes up, it goes down, NOBODY KNOWS WHY THE #&%* IT HAPPENS!!"
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