I try and be Agnostic in all things... and by this I try to hide my motives in passive aggressive behavior..... I kid.
There are a Few MEME's going around that I have to dispute...
In the environment of All you fuckers are crazy... and I'm just a step away...
- First: FDR extended the Great depression. The case here is that in 37 we again were in recession, unemployment was at 10+ Percent. Of course it had moved from 20%. But... THE MARKET RECOVERD JUST AFTER FDR was ellected.... and Who gives a shit about the economy.... it's the market we all care about. As an arguemnt that somehow the market is inefficient as a metric of the economy.... Shut the fuck up!
- Second: The lost Decade... have you seen the chart of the Dow.... WHAT ABOUT THE DECADE WE ALREADY LOST. As much as... I don't care, I want the economy to recover... but whatever we have been doing for the past 10 years hasn't worked. I don't want to argue about if it was tax cuts, or 9/11... or Peak America, peak Oil, maturation of an economy..... baby boomers.... I DON'T CARE WHAT WE DO, i WANT THE MARKET TO GO UP. What we have been doing for 10 years hasn't worked.. I SAY we keep trying new things Until it does work.
3 comments:
Regarding the second item, the argument is that sometimes tincture of time is in order and doing something just for the sake of doing something can often be counter-productive.
This isn't rocket science where the endpoint is visible and quantifiable... the rocket goes up or it doesn't. With economics, as you have alluded to in the past, the science is lacking because there is no proof that intervention or lack thereof has any profound effect on the outcome.
People will always disagree, even when the facts appear to be crystal clear as is pointed out in the FDR case. FDR takes office in March 1933 and industrial production turns positive immediately, unemployment goes from 25% to 10% within 36 months, yet people will say that FDR had nothing to do with it. The counterfactual cannot be disproved so we are stuck at this impasse.
I guess I'm not only an agnostic, but I'm also a zen agnostic: I care little about what policy they institute or whether the market goes up or down. This is what makes the game fun-- feeling the rhythm and sentiment of the market-- is what makes life interesting.
One could call that Taoisum. Economic expansion is in the interest of the people.
It's better for the starving babies if the market goes up.
Not to get too philosophical, but I guess it also depends on what you mean by "economic expansion."
While starving people cannot study the Dharma, you do not need a flat screen TV and a cottage in the Poconos to study the Dharma either.
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