ARmy Rumour SErvice

**bokkatankie** · 21-11-2011, 08:24

Originally Posted by Brotherton Lad

I reckon the teknika of economics remains an art rather than a science. Ask 3 economists how to fix a problem and you'll get 5 different opinions. That's because politics and human psychology are all thrown into the pot.

We are all a part of the problem. LTCM is simply a symptom, not the cause.

LTCM, 1998, the first time the Regulators forced banks to bail out a hedge fund, thus setting the scene for future bail outs demanded by banks. I agree is was a symptom (or the illness itself) of greed and incompetence that had built up in the 80's and 90's.

**nanotm** · 21-11-2011, 09:48

all those companies make money by using economists to decide who they need to bet on.

oddley 90% of economic theories achieve a critical mass and collapse reulting in massive losses for someone, even the theory of economics is utter nonsene its all about how to make massive increases artificially and try not to get caught in the eventual collapse, it always rresults in a collapse though

**alib** · 21-11-2011, 09:52

Originally Posted by Brotherton Lad

I reckon the teknika of economics remains an art rather than a science. Ask 3 economists how to fix a problem and you'll get 5 different opinions. That's because politics and human psychology are all thrown into the pot.

We are all a part of the problem. LTCM is simply a symptom, not the cause.

Economics is a belief system and one sometimes as careless of empirical evidence as Creationism.

**alib** · 21-11-2011, 10:00

Originally Posted by Boldnotold

So time for Britain to take the lead, leave the EU, and start a Trading Bloc?

Maybe we could call it EFTA?

Rustles very old copy of newspaper and says 'Harumph'.

Maybe we could have an HQ in Belgium and another in France? And here's an idea, an elected assembly to make it all nice an democratic unlike other faceless unions.

**Brotherton Lad** · 21-11-2011, 10:05

Originally Posted by alib

Economics is a belief system and one sometimes as careless of empirical evidence as Creationism.

I still prefer to have economists running the shop and Creationists in the temple.

**eodmatt** · 21-11-2011, 11:18

I have a friend who is a Phd economist. About mid term of the last labour government I asked him to describe Mr. Browns running of the economy. He replied "prudent".

I won't be asking him any more questions about the UK economy.

**Koschei** · 21-11-2011, 11:22

Originally Posted by alib

Economics is a belief system and one sometimes as careless of empirical evidence as Creationism.

Wholeheartedly agreed. Mind if I quote you on that?

**JohnSmith** · 21-11-2011, 11:42

Originally Posted by eodmatt

I have a friend who is a Phd economist. About mid term of the last labour government I asked him to describe Mr. Browns running of the economy. He replied "prudent".

I won't be asking him any more questions about the UK economy.

I think that was correct, up to the mid point of the Labour govenment, then Brown spent like a sailor!!!

**Balleh** · 21-11-2011, 16:27

Originally Posted by JohnSmith

I think that was correct, up to the mid point of the Labour govenment, then Brown spent like a sailor!!!

In setting up our equivalent of Freddie Mac/Fannie Mae, is Cameron about to do the same?

**bokkatankie** · 21-11-2011, 16:48

Originally Posted by Balleh

In setting up our equivalent of Freddie Mac/Fannie Mae, is Cameron about to do the same?

Oh come on it took Freddie Mac nearly 70 years to go bust, Fannie Mae was shorter lived, 1970's. He will be long dead or retired before they bite us in the arse, which they will.