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Warren Buffet himself said he doesn't understand economics.

• cynicalkane 17y ago
  We were talking about finance, not economics.
  • jeromec 17y ago
    Huh? Did you read your own words in your post right above? ..the hyperinflation fearmongers, the deflation fearmongers, Austrian economics true believers, Randists, socialists, And most of them are wrong. And in case you haven't noticed from the recent bank and financial mess, economics and finance are related.
    • cynicalkane 17y ago
      I was naming groups of people who have strong, ideological, mutually contradictory theories about finance. Anyway, it's a stretch to call inflation/deflation fearmongers, Randists, and the money-is-debt gallery "economists". We only have vague understandings of the macroeconomics of finance, so that stuff isn't really worthwhile to people not interested in economics.
      • jeromec 17y ago
        > We only have vague understandings of the macroeconomics of finance, so that stuff isn't really worthwhile to people not interested in economics. Maybe that is precisely why the Great Depression, this current mild depression/steep recession, and other financial messes throughout history catch people who "only have vague understandings of the macroeconomics of finance" by surprise.