PhD in Economics

Quote from shorty_mcshort:

I think that we simply have different views on government. You seem to trust them because they have educations and are elected (which no FED president is elected by the public nor Treasury Secretary) These two paragrpaghs pretty much sum up my views.

So the FED president is selected by the president and CONFIRMED by your congressman. What are you complaining about? You have a clear choice: either have a QUALIFIED official choose or have millions of people you have NO reason to trust pick. YOU can't choose alone, even though because of your sore-loser tone, I can tell that's the way you would love to do it. Just let mcshort choose the the next chairman of the federal reserve or better yet, dilute the whole establisment. Anarchist. I might snatch your jesus sandals.



The idea behind a gold standard is to remove from the hands of politicians or their political appointees the discretion of determining a nation's supply of money. The opposite of a gold standard would be a fiat paper standard, whereby the monetary authorities of government have complete discretion: They can inflate or contract the money supply at will.


In the event that the supply of goods or labor decreases, the gold standard fails to address the need to be able to control money supply to control price fluctuations. Therefore they're are alot of problems with price fluctuations etc. that I summarized in my last post. You don't anything about the way the economy works compared to the PHDs that run washington.


Historically, because such situations grant enormous power to government without restricting the potential for abuse, vastly destructive abuses have, in fact, occurred. History is littered with many examples of governments printing their paper money—to pay for everything from elections to foreign military adventures to welfare programs—until it becomes utterly worthless, destroying people's savings and confidence in the economy.


You're clinically paranoid. This isn't Germany. The ability to insure your (a country's) own debt is a valuable tool. At times expenditures like welfare or military allows for future productivity when you can pay back the debt (see Reagan).



Anyone with the power can inflate and basically destroy earnings and savings of millions of people just to suit their will. Don't think it can't happen because it has happened in the past and it will happen in the future. In the 1920's Germany inflated their currency (for many reasons) that lead to insane inflation rates.

ANytime there is a war i.e. tradgedy there can be inflation. Germany's superinflation had nothing to do with a "fiat" currency. They may have even had a currency pegged to gold. I'm not a histiorian and the currency had nothing to do with the collapse of the country. It was rooted in agriculuture as are still all economies. Fool
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I dont want to pour cold water on such clever people as Phds. But spare a thought for most of the billionaires - they haven't even got basic degrees, mainly honary ones if any.
Richard Branson for instance has 1 Ordinary level, a qualification of a thick 15 year old. The average office worker has about 10 and many have higher education on top.
Yet Branson and company employ Phds and other qualified people by the thousand. Yes thousand.
There IS something to making a succes of life and its hard to quantify but employ clever people and be cleverer
 
You picked the wrong handle it should be "sunshine" because you are just so sweet! :eek: You are calling me names simply because we have different views on economics. Nice.

I really should know better to discus economics with someone who has to come on a message board to ask what natural gas did in a particular day. If you can get online you can't find a site that has a chart of natural gas? However, I am sure you are not intellectually lazy though even though you can't put in the effort yourself to find natural gas markets. Good luck to you in the future. :cool:

Eric
 
Quote from shorty_mcshort:

You picked the wrong handle it should be "sunshine" because you are just so sweet! :eek: You are calling me names simply because we have different views on economics. Nice.

I really should know better to discus economics with someone who has to come on a message board to ask what natural gas did in a particular day. If you can get online you can't find a site that has a chart of natural gas? However, I am sure you are not intellectually lazy though even though you can't put in the effort yourself to find natural gas markets. Good luck to you in the future. :cool:

Eric
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The post you're referring to . . . I got the wrong month up on my screen. I had an excel file up for the November contract and I was looking at October. It has nothing to do with my intellect. I did not make a post blaming George Bush for my mistake.

If you wanted to make a difference in the economic system you should have went to school and actually studied it.

I get up and go to work everyday (an actual trading job) and don't want a butterfly-chasing utopian running around telling me our economy would be perfect if we just used the gold standard.

I think you're a freak because you use those little smilie things in your post and you think the people we as nation elect shouldn't be able to their job.

Good luck to you in the future.
 
Quote from CaptainObvious:

Switch your major to metorology. Like Economists, weathermen haven't a clue about forecasting future events, but as a weatherman nobody will ever expect you to be right. The pay will be comparable as well. All said tongue in cheek my friend. Good luck with your career.
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Haha, no way. My father was a meteorologist (NYU PhD) I grew up with that stuff, and don't find it interesting at all.


"The three best jobs in the world are:
1. Designated hitter for a major league baseball team.
2. Meteorologist for a television affiliate station.
3. Economist.
What other jobs can you fail 70% of the time and still be considered good at your job?"
 
Quote from ImamicPH:

The post you're referring to . . . I got the wrong month up on my screen. I had an excel file up for the November contract and I was looking at October. It has nothing to do with my intellect. I did not make a post blaming George Bush for my mistake.

If you wanted to make a difference in the economic system you should have went to school and actually studied it.

I get up and go to work everyday (an actual trading job) and don't want a butterfly-chasing utopian running around telling me our economy would be perfect if we just used the gold standard.

I think you're a freak because you use those little smilie things in your post and you think the people we as nation elect shouldn't be able to their job.

Good luck to you in the future.
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"should have went to school". There is some "intellect" for you.

Hey Islamafreak, why dont you cut out the "holier than thou" bullshit, after all you readily admit the following:

ImamicPH


Registered: Dec 2005
Posts: 341


12-01-05 09:22 AM

Possession of Narcotics -

The charges got dropped too.
 
Quote from der_kommissar:

"should have went to school". There is some "intellect" for you.

Hey Islamafreak, why dont you cut out the "holier than thou" bullshit, after all you readily admit the following:

ImamicPH


Registered: Dec 2005
Posts: 341


12-01-05 09:22 AM

Possession of Narcotics -

The charges got dropped too.
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first the username has nothing to do with islam. I see you know how to search the web though.

Nothing I posted has to do with being "holy". I never complained about drug enforcement. I have no problem with the way laws are enforced.

If I make the decision to use drugs, then that's my choice. I know I may have to face the consequences.

The case just serves as another example of the DA getting it right. They didn't have a case. At least I don't live in Iraq, I would be dead right now.
 
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