2 ms·

>I'd love to see an economists take on the value to a consumer of holding gold in this form, at the price. I doubt you will find any unbiased opinion. Its impo

>I'd love to see an economists take on the value to a consumer of holding gold in this form, at the price. I doubt you will find any unbiased opinion. Its important to remember that economists arent solely focused on the IS state. Its not a science, its perception management. The narrative is self fulfilling. I really enjoy the npr article on the Brazilian inflation on this https://www.npr.org/sections/money/2010/10/04/130329523/how-fake-money-saved-brazil https://www.npr.org/sections/money/2010/10/04/130329523/how-... The tldr is that the economy is what you think it to be.

brutus1213 3y ago
Totally correct. Was watching an interesting town hall by the Fed for educators, and it was interesting to hear JP say "we have so many fine [Econ] textbooks", and in a different sentence say "it takes a few editions to catch up to our innovations". It was perfectly illustrating what I learned in undergrad Econ .. it is the science of explaining what happened. Extrapolation is fine but under no warranty. I have made major personal blunders relying on established econ theory to hold (especially around housing). My new take is the govt will bail out the masses in some instances, so just follow the trend.
- cf141q5325 3y ago
  >My new take is the govt will bail out the masses in some instances, so just follow the trend. Unless they are too incompetent or corrupt to keep the ship sailing. Which you could also reword into the problem becoming too complex and the process missing means to counter steer. Especially with the later framing it becomes clear that one might have unrealistic expectations for the process the problem got delegated to. Stuff is complicated and checks and balances in form of the fourth estate are currently dysfunction due to a lack of a financing.

2 ms·

>I'd love to see an economists take on the value to a consumer of holding gold in this form, at the price. I doubt you will find any unbiased opinion. Its impo

by cf141q5325 3y ago

brutus1213 3y ago
Totally correct. Was watching an interesting town hall by the Fed for educators, and it was interesting to hear JP say "we have so many fine [Econ] textbooks", and in a different sentence say "it takes a few editions to catch up to our innovations". It was perfectly illustrating what I learned in undergrad Econ .. it is the science of explaining what happened. Extrapolation is fine but under no warranty. I have made major personal blunders relying on established econ theory to hold (especially around housing). My new take is the govt will bail out the masses in some instances, so just follow the trend.
- cf141q5325 3y ago
  >My new take is the govt will bail out the masses in some instances, so just follow the trend. Unless they are too incompetent or corrupt to keep the ship sailing. Which you could also reword into the problem becoming too complex and the process missing means to counter steer. Especially with the later framing it becomes clear that one might have unrealistic expectations for the process the problem got delegated to. Stuff is complicated and checks and balances in form of the fourth estate are currently dysfunction due to a lack of a financing.