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Wrong guy. I am not a socialist either. And I don't believe in the efficient market hypothesis.

Good point and like I said I was simply posting an opposing viewpoint to current opinion. I believe I am right and you can believe what you will. Of course things have to happen for my prediction to come true thats why it is just a prediction...

There is a battle raging in economics about classical rationality (perfect knowledge, i.e. you have read and remember every book in the library of congress, are telepathic, and psychic) versus bounded rationality (you know what you know and thats all). Economics has moved toward bounded...

You are wrong wrong wrong WRONG. Yes, money to a prostitute is a cash transaction that is almost a barter transaction, but most money (a very very large percentage of transactions) changes hands through financial intermediaries which in turn create money through lending practices. THAT IS...

A correction to the final equation is S-I + T-G = X-M I apologize I should have checked my work...!

I AGREE. Plus, in his argument he is always assuming that the investment in capital has a positive return on investment, which we know better in the real world. Consumption (demand) spurs investment. And BTW, the graphs the author used in the article are wholly inadequate because until...

In the spring and then I want to start my PhD next fall.

I take back what I said about liking any points in this article... I just reread this garbage of an article and it is the most backwards attempt to diagnose the current state of affairs in the economy. This guy is full of shizzzz. He talks about protectionism in that we shouldn't buy...

I didn't want to have to do it, but I quess I will have to write my own article and analysis. But what happened to all of the analysis before the last stock market bubble? How many people predicted the subsequent housing bubble because of the fed trying to ease...? I bet only a handful...

I hope your boss tells you that next time you ask for a raise and you quote either inflation or some other economic reason!

I was in Barnes and Noble the other day and stumbled across a book in their business/economic section titled (not sure of the exact title) "The way the economy works." It seemed okay for explaining most macro principles. Basically you want to look for a book that thoroughly explains the...

I will agree to disagree with your assessment of the housing market because the dynamics of home ownership are different from the office space market where I have seen and experienced bubbles. BUT... AT LEAST WE HAVE ANOTHER ECONOMIST AMONG THE BUNCH OR SOMEONE THAT DIDN'T FALL ASLEEP IN...

Did you read what I said? I was speaking specifically of the DISCOUNT RATE, which is for simplistic purposes the public face of the Fed. I WAS NOT TALKING ABOUT OMO (open market ops)! I know what I am talking about. Do you want me to draw the IS-LM-BP curves for you? Of the competing...

OK chihuahua boy (an annoying dog that wont stop barking or learn). You are wrong on so many points in this reply that it would take me all night to rebutt your point, but I will be brief. I can understand your dismay with the chain weighted deflator index used to count the CPI because...

Well forgive my board etiquette. And maybe, just maybe, I might have been baiting a little???

I was attempting to give a different viewpoint of market dynamics, not the infinite regress problem of developing generative and auxiliary assumptions for the model building process. You are correct I shot from the hip with my model and made assumptions that are known to be false, "a priori"...

DING DING DING, YOU WIN THE SHOWCASE SHOWDOWN. That is exactly right, I had to chime in because after 8 pages of posts I was getting discouraged. If the naysayers had any arrows in their quiver they would classify savings as deferred consumption but I would be able to expand upon that too...

I love all of you naysayers on this site. You heckle then, almost never give an alternative viewpoint, misquote current economic theory, then regurgitate the thoughts of someone else. First, I have a hard time believing any type of analysis that comes out a major brokerage house due to...

Yeah I guess you are right. I should have read the same comic books as you so that I would have the same level of education. I guess that Ebay, Qualcomm, and every other hot stock should be counted in the CPI. Some may call that inflation but who is then wet behind the ears and in their...

This is great stuff and along the lines of what my thesis will be about. I plan to start my PHd next fall and I am interested in the movements of underground capital. I may write my dissertation about that...