Wow.. I kind've wish this thread would disappear.
Although I still feel very bad about the economy
Memo to avoid creating any similar threads
I would just post this for any similar Austrian economists, who haven't already heard it before. Or anybody who's just reading this from top to bottom. It gives you something to think about.
The owner of a ship noticed that his ship was filling with water. Being an educated man (if not nautically trained) he knew there were many possible causes for water in a ship: leaks in the hull, the bilge pump being broken, waves washing over, condensation, and even the crew urinating in the hold. He heard the bilge pump running, he saw water from waves pouring in the open hatches, but worst of all he smelled urine in the hold! Being sensible, he ordered the crew to shut the hatches and then gave them a lengthy, stern harangue on hygienic use of the head. While he was lecturing the crew, his ship sank due to a combination of causes: large, unobserved leaks in the hull, a bilge pump that was running but not pumping correctly, and condensation that had shorted out warning circuitry. http://critiquesoflibertarianism.blogspot.co.uk/2009/05/parable-of-ship-why-austrian-economics.htmlPersonally I reject this in the current economic situation..... but, things may just be more complicated than we all realize.
You need to be aware of the people around you. Assassins can be kind, stupid can appear smart, honest can appear to be lying and friends could be foes. It is always an mistake to assume you know the people around you without ever having questioned them. But honestly when you open up with "perhaps I am preaching to the choir" you set yourself up for a rude awakening.
Sorry, Im not sure I understand what you're saying.
To be clear, I still believe things are in a very very big mess. I reject this situation above.
I didn't assume knowing anybody? Infact, I posted because I wanted to see if anybody held the same views.
I believe we could be , as Peter Schiff says, in the "eye of the storm". Things are not getting better in the economy, it seems to be the opposite. It's just a matter of time before people realize.
Having said that, the disclaimer above sort of says that I am not a professional economist, I do not spend hours looking at all the different facts and statistics. I am not qualified in economics and I have not experience working at a hedge fund or government department, although I do follow the news closely. I have worked in investment banking for a while, but I currently do not work as a market professional. Therefore I would be classed as an amateur speculator. Despite this, I believe that sometimes one can just use intuition and boldness to be right when other people are wrong. Technical analysis isn't everything. Sometimes the facts really are obvious. I believe now is one of those situations..