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To: wideawake

There seems to be no end of ignorant idiots on FR and in the larger world of New and Old Media who know absolutely nothing about economics, yet who are simultaneously willing to not only analyze but to predict major macroeconomic developments.
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Alas you are so right and who are UNWILLING to learn the least bit about how economies work. One might think someone interested in this area of prediction would want to at least try to learn how economies work.


8 posted on 07/21/2005 6:26:56 AM PDT by JLS
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To: JLS
One might think someone interested in this area of prediction would want to at least try to learn how economies work.

You would think.

Yet I have been informed on this forum that:

(1) A dollar-pegged currency is the same thing as a floating currency.

(2) An optimal use of financial resources is to have zero national debt.

(3) The budget deficit and the current account deficit are the same thing.

(4) Only Americans should invest in treasury securities - foreign investment of any kind in America is dangerous, but credit investment is deadly.

(5) Foreign creditors can "bankrupt" Ameerica at a moment's notice if they choose to.

(6) Anywhere from 30-50 American states have "declared bankruptcy".

The list of idiocies goes on and on.

12 posted on 07/21/2005 6:35:06 AM PDT by wideawake (God bless our brave troops and their Commander in Chief)
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