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To: danielmryan

Printing money, debt ceiling about to be surpassed yet again, a credit rating decrease. Yeah...sure. The gold bubble is about to pop. All bets are off when it comes to “charts”. These “charts” never had to deal with the insanity we’re dealing with right now.


2 posted on 01/12/2011 8:23:03 AM PST by albie
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To: albie

Your point about the current situation is well taken. Looking back at times like the Weimar hyperinflation is instructive, but our times are different.

When I was an economist I used to explain to people that economics was indeed a science. However, imagine how hard it would be for physicists if, for example, the boiling point of water changed often in unpredictable ways. The economy is driven by changes in technology, laws, regulation, consumption patterns, etc. It is a science in which the variables and factors change rapidly.

When I did forecasts for the corporation that I worked for I would show trendlines with diverging upper and lower boundaries. I would explain that trying to forecast just a few years into the future was nearly impossible.


8 posted on 01/12/2011 4:22:26 PM PST by darth
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