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You mean because his reasoning is Austrian and not Keynesian it is wrong even when the crash happens which he predicted would happen? That's convenient. Gold h
by unishark 6y ago
You mean because his reasoning is Austrian and not Keynesian it is wrong even when the crash happens which he predicted would happen? That's convenient.
Gold has also done pretty well hasn't it?
You can list wrong predictions all day, but if the guy is occasionally right you need to give credit.
- deathlight 6y agoThere's still no reason for anyone to carry around a broken watch and no reason to listen to wolf criers who are more wrong than not. Pete Schiff as an anachronistic goldbug is a curious oddity to point out every now and then for amusement. He isn't someone worth listening to though.
- parasubvert 6y agoThere’s an old saying that Austrians claim a lot of things, but ultimately become Keynesians in a foxhole. There is no “there” in Austrian economic reasoning or modeling: the fundamental premise is to reject empirical evidence in favour of Praxeology. This is useless for forming economic policy.