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  Australian Politics Forum › General Discussion › Federal Politics › Economists say there is no budget emergency
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Economists say there is no budget emergency (Read 1669 times)
crocodile
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Re: Economists say there is no budget emergency
Reply #15 - May 1st, 2014 at 2:36pm  
Vuk11 wrote on May 1st, 2014 at 1:19pm:
perceptions_now wrote on May 1st, 2014 at 12:20pm:
That's reasonably accurate, particularly given that THE VAST MAJORITY OF ECONOMISTS DID NOT PICK THE GFC, BEFORE IT WAS ALREADY WELL UNDER WAY!


The Austrian and Chicago schools did, it was obvious due to their basic market principles.....while they had mass main stream media ridicule, hell even that semi-Austrian gold bug Peter Schiff was right:



The reason why they try to excuse it IMO is because they all benefit from bigger government, especially those banks being bailed out yet it's Economists from major banks making the above statements in the OP.


Not quite. One guy predicted a housing slump. The biggest Austrian of them all, the famous Arthur Laffer even laughed at him on national TV. Not much different to our own home grown Steve Keen in sounding the warning bells.
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Very funny Scotty, now beam down my clothes.
 
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longweekend58
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Re: Economists say there is no budget emergency
Reply #16 - May 1st, 2014 at 4:19pm  
crocodile wrote on May 1st, 2014 at 2:36pm:
Vuk11 wrote on May 1st, 2014 at 1:19pm:
perceptions_now wrote on May 1st, 2014 at 12:20pm:
That's reasonably accurate, particularly given that THE VAST MAJORITY OF ECONOMISTS DID NOT PICK THE GFC, BEFORE IT WAS ALREADY WELL UNDER WAY!


The Austrian and Chicago schools did, it was obvious due to their basic market principles.....while they had mass main stream media ridicule, hell even that semi-Austrian gold bug Peter Schiff was right:



The reason why they try to excuse it IMO is because they all benefit from bigger government, especially those banks being bailed out yet it's Economists from major banks making the above statements in the OP.


Not quite. One guy predicted a housing slump. The biggest Austrian of them all, the famous Arthur Laffer even laughed at him on national TV. Not much different to our own home grown Steve Keen in sounding the warning bells.


and have been long-term consistently wrong.
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AUSSIE: "Speaking for myself, I could not care less about 298 human beings having their life snuffed out in a nano-second, or what impact that loss has on Members of their family, their parents..."
 
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