Video of my interests: stock markets, politics, alternate energy (uranium and solar). Things I think are amusing or educational. Think big doods.
Thursday 11 December 2008
How the 'Experts' Missed the Crash: Philosophical Flaws, No Sense of History
Unfortunately, Galbraith doesn't hold much hope that this crisis will change much the outlook for economists, noting they don't study history and many are "still in denial" about what's transpired.
After the dot.com crash markets attracted my curiosity. Fairly scary aspects of reality were invisible to the mainstream but inevitable, I saw. Primarily, that a major secular shift away from financial assets to commodities and precious metals is underway disguised by what I call "classic late empire credit bubble dynamics"; enabled by financial engineering, marketing and electronic networks. As far as can still see, peak everything is the real deal and resources and alternate energy the stuff from which futures and fortunes will be built, but only after a massive crash and recession.
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