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What if economists were personally liable for their advice
Comments
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brokenarrow wrote: »All currencies are in free fall together its a race to the bottom.
Well that's OK then. :T
If it was just one or two currencies in free fall, then the users of those currencies, and those who hold assets in those currencies would be !!!!ed :eek:'In nature, there are neither rewards nor punishments - there are Consequences.'0 -
brokenarrow wrote: »Yep its been the best performing commodity for the Q3 in 2012. By quite some margin actually.
Other than Wheat, Soybeans, Ethanol.........to name just 3. :eek:'In nature, there are neither rewards nor punishments - there are Consequences.'0 -
Other than Wheat, Soybeans, Ethanol.........to name just 3. :eek:
I wouldn't mind guessing purch, that any day now our new member will give us their insightful opinion on how many houses you can buy from silver compared to in the past.Please stay safe in the sun and learn the A-E of melanoma: A = asymmetry, B = irregular borders, C= different colours, D= diameter, larger than 6mm, E = evolving, is your mole changing? Most moles are not cancerous, any doubts, please check next time you visit your GP.
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What if economists were personally liable for their advice?
Most of the staff of MoneyWeek and Capital Economics would be cooling their respective heels at her Maj's pleasure!0 -
You might as well say that all meteorologists should be held legally responsible for their forecasts. There are conceptual similarities between the two 'sciences' -- impenetrably complex within an ever-changing scenario.
If you rolled a marble right across Oxford Street on a busy Saturday afternoon, the laws of science theoretically enable it to be predicted where it would come to rest. But would anyone like to bet on it ? And economics isn't even that simple.No-one would remember the Good Samaritan if he'd only had good intentions. He had money as well.
The problem with socialism is that eventually you run out of other people's money.
Margaret Thatcher0 -
vivatifosi wrote: »I wouldn't mind guessing purch, that any day now our new member will give us their insightful opinion on how many houses you can buy from silver compared to in the past.
I don't know about you guys but I'd find that especially useful. It's just that I happen to have a few thousand ounces of silver hanging about and I'm kinda interested to know how to convert them into real estate.0 -
I don't know about you guys but I'd find that especially useful. It's just that I happen to have a few thousand ounces of silver hanging about and I'm kinda interested to know how to convert them into real estate.
You've got to be patient - wait until interest rates go back to normal, all the repossessions have been cleared and QE goes to infinity.0 -
Why not? In my post above I was going to include them with economists but was waiting first to see if anyone else would try and compare the two.GeorgeHowell wrote: »You might as well say that all meteorologists should be held legally responsible for their forecasts.0 -
The biggest thing economists lack is a crystal ball.
The problem with projection models is that they are more likely to be wrong than right. It is impossible to predict things which you have no ability to predict. The global economy is so big now that a 0.000000x% change in a figure can turn growth into recession. You can build what you think is a model of what will happen but then how do you predict a Tsunami followed by Nuclear meltdown or terrorists flying jumbo jets into towers?
As countries go, they can predict and model for themselves but it can be blown out of the water by another country/continent making changes that were not predictable.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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