Re: Why does anyone pay attention to people that study "economics"?
Quote
"It is difficult to get a man to understand something, when his salary depends upon his not understanding it!"
Upton Sinclair"Economic history is a never-ending series of episodes based on falsehoods and lies, not truths. It represents the path to big money. The object is to recognize the trend whose premise is false, ride that trend and step off before it is discredited." ~ George Soros
Two quotes I have fallen in love with
Hadn't seen the second before, anyone trading on markets and following that would have a very good chance of success.
Quick point of the ownership of money question, ultimately the populace owns the created money and that money is debt, something like a loan has a debtor but something like QE is a debt on everyone.
If you create more money, the real value of the existing money should go down. There is the question of who will enjoy this new money. In the case of QE it seems to be the governement, stocks holders, banks and maybe some people who have debt so a minority of the population.