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Promised Land

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tomos:
I dont know enough about economics to argue any side, but I know enough to ask questions.

Yeah, the current system is not convincing (and I wouldn't call myself a fan), but a lot (most?) of it's current problems are related to lack of sensible regulation of the financial institutions. Which started in the time of a 1980's US president that was a big supporter of Hayeks ideas. (I'm trying to keep this to economics rather than politics.) The 80's ended with a recession, I was there myself at the time but dont actually know why (people think) that recession happened.

IIUC, Germany (by extension, to a certain extent, the EU as well) is using at least some of the principles of Hayek/Austrian politics - one could claim that Germany's current relative success is related to that, but I would say not. (I can elaborate on that if anyone wants. It's obvious that the EU at any rate, is no success story.)
On a couple of occasions in the last two years, it seemed to be print money or collapse, for the EU. So, the ECB 'printed' money. It was all hoarded by the banks anyway, but I guess it helped on some sort of psychological level. [There's hope, we can print money! lol]

Sometimes I think no matter whatever money 'system' is in place, it's all grounded in belief anyway. This must not be a bad thing. But us humans do tend to be a bit all over the place (panic! buy! sell! bury! [money or head :p] etc. etc)

Tinman57:
  I do know that reading about economics and economic theories makes my head hurt.  My dad was a master of that stuff, it's what he did for a living, I could never really wrap my mind around it all.  We were just wired totally different.
  I would think those economist with doctorates would mostly all be stinking rich.  They didn't get that doctorate from not knowing how to make money.  lol

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