Austrian theory is a theory, and with the character of Mises (very one sided, considering he was the only one to be right) it sure has to be adapted.
Then we have to make classes of problem to be able to think:
- What I appreciate on this blog is, apart form the fact that it is open-minded and give argument for thinking the world where we live, is that John have very strong argument on politics
++ "Generational Theory" gave me a clear answer on one of the question I had : "Why, by the hell, did US population aggreed with Reagan, the man who killes the economical system we had all over the world?"
++ Higgenbotham, each time I read your post, I have to think a little bit more (+others too)
I use this site for trying to think better my little problems and for trying to make classes of problems (see below: first classes, then problems, then interactions ... I'd be happy of your thoughts on that)
- But John was completly wrong on the stock market and his ONLY argumentation on the RER is quite poor +each time the stock market has a "small clash" he panics and predicts the end of the world, why?
Then the classes:
- The debate "inflation-deflation", for me it has to be sudbivided into classes of assets : Food, Financial(Stock Market, Bonds and derivatives), Debt (public and private), Houses.
It is not very productive on the individual level, because it doesn't give any clue on what to do (specially if the writer stays too general)
I believe that Gordon TLONG is write "Inflation on what you need, Deflation on what you get", and so it means that live will become harder for the average people, but for me?
- The Central bankers problem (as they are linked to banks, even if they were not corrupted with the link to their "brothers" the bankster, they would have a problem: How to generate Credit and Productivity and Inflation at a desired rate on EACH asset and... they have so many constrains and political constrains (it would be very "non-political acceptable"(sorry for the expression) to say that Expanding Credit is NOT the way to make Economy better, so even if they know what to do, they cannot, on one side, and on the other one, they have only access to the way "Money" in general is generated, not the way it is allocated.
- The different type of Credit (House, Private versus Commercial, Investment, Spending, Speculating) and how they evoluate
- MY little private life, how to survive in this crazy world
- The stock market in itself
I'm NOT a Central Banker, I'm NOT a bankster, I'm NOT in charge of making the general Economy better for people, so I leave them with their problems, I'm just looking on how to survive...
As Prechter first wrote (for me), and a long time ago, it is Wrong to link Stock Market and Politics and Economy, for him it belongs to a "social mood process", I like the Idea, but Prechter is mostly wrong on the Stock Market and has an obsessionnal Bear view (almost as obsessionnal as John).
I'm certain that we have a hard financial problem, BUT it can be hidden for a very long period of time.
Now just an article of Nadeem WALAYAT (just to give anther different view to this site), I follow this guy for some years, and he is right for a long time now, and people who are right have my preference...http://www.marketoracle.co.uk/Article25805.html
Regards to all