What are you learning from this economic crisis?

[2322]

Jason, elaborate about the Austrians please, I'm curious.

Sure!

There are a few schools of economic theory. The popular one at the moment is Keynesian. The other main contender is Austrian. Everything I wrote above is a frankly Austrian point of view; a more modern interpretation of von Mises.

Keynesianism is very popular at the moment. Keynesians openly scoff at what they see as old-fashioned Austrian economics. Right now, the Austrians are laughing all the way to their banks because they saw all of this coming down the pike years ago and planned.

For the love of God DON'T ask him to elaborate, it won't be pretty. You've been warned.

Perhaps not pretty but, unlike your post, it will be relevant. I prefer my intellectual dialogue to consist of something more than a sidebar in Parade.

 

[Drifterwood]

Go back to step 1.

:biggrin1: - great post Jason.

Two points only from me. I saw a report the other day that in 22 of the 31 countries where "they" monitor property prices, prices are now falling rapidly.

Secondly, do you think the Chinese have any obligation to play our game? I noticed that George W phoned the Chinese President, before he spoke to the American people.

 

[Ethyl]

I should seriously consider moving to greener pastures.

 

[marleyisalegend]

Perhaps not pretty but, unlike your post, it will be relevant.

Oh, I'm sure it will be relevant.

I prefer my intellectual dialogue to consist of something more than a sidebar in Parade.

The only reason you prefer your dialogue over mine is that there's nothing you enjoy more than your own long-winded posts. I bet you look in the mirror while you're posting and drown yourself with compliments about how smart and witty you are.

 

[2322]

The only reason you prefer your dialogue over mine is that there's nothing you enjoy more than your own long-winded posts.

Actually there are many, many, more reasons.

I bet you look in the mirror while you're posting and drown yourself with compliments about how smart and witty you are.

I'm shocked! Shocked!

 

[lucky8]

I have learned that when I graduate, I am going to be screwed in just about every way imaginable. Honestly, I might even move to the Cayman's and become a dive instructor for a few years. I have a feeling an MBA in finance isn't going to do much for me right now. At least there I'd be broke and happy, as opposed to broke and worrying about my future

 

[Principessa]

I have learned that when I graduate, I am going to be screwed in just about every way imaginable.
Honestly, I might even move to the Cayman's and become a dive instructor for a few years. I have a feeling an MBA in finance isn't going to do much for me right now. At least there I'd be broke and happy, as opposed to broke and worrying about my future

Take me with you.

 

[2322]

I have learned that when I graduate, I am going to be screwed in just about every way imaginable. Honestly, I might even move to the Cayman's and become a dive instructor for a few years. I have a feeling an MBA in finance isn't going to do much for me right now. At least there I'd be broke and happy, as opposed to broke and worrying about my future

An MBA in finance should be very useful. You just need to learn how to apply your skills in this economic environment. It won't be business as usual for a while yet. You have quite a career ahead and let me tell you, people have short memories. Your experience in starting your career now will give you unique skills when this sort of thing happens again. Don't view your MBA as a key to just another cubicle at some big firm. Now is the time to think on your feet and adjust your skills to the needs of customers. Learn to invest bearishly. Learn about alternative investment strategies to preserve wealth in times like these.

There are always opportunities to make a lot of money. Huge fortunes are made during and after crashes. Your job is to know what they are and bring them to your customers while giving yourself invaluable experience in rough waters.

 

[B_Monster]

Actually there are many, many, more reasons.



I'm shocked! Shocked!

Thats hilarious.

 

[B_Lightkeeper]

I'm afraid America is in deep shit.

 

[MarkLondon]

Thats hilarious.

There's a link on that Youtube page to the preceding scene in "Cassablanca"; the singing of La Marseillaise, the reason for shutting down Rick's Cafe. That's the part of the film that always brings a tear to my eye. YouTube - Casablanca - French National Anthem

Anyway, hope I'm not too far off topic, back to the economics. This is a fascinating thread. Thanks guys.

 

[submit452]

To never vote Republican in a National election again.

 

[deleted213967]

To be nice to the supremely competent, just and visionary Chinese leaders who are bankrolling us.

 

[The Dragon]

I have learnt that people are greedy and do not learn from history.
You lot have been in the grips of an over heated bull market that was long over due for a correction.
People got complacent, they got greedy, they got over leveraged thinking that the bubble would never burst.
History has long shown that markets that get overheated end up over correcting and the backlash is savage.
America CAN NOT afford Bush's bail out of Wall Street and I hope he fails in pushing this through the senate.

 

[Drifterwood]

To be nice to the supremely competent, just and visionary Chinese leaders who are bankrolling us.

I'll tell them for you :biggrin1:

Ironically, the cheapness of their products will make the demand for them even higher in hard times.

 

[curious n str8]

That were headed for some very hard and scary times and maybe we are in the END TIMES. I'm gonna be really cautious of anyone who says they can fix this and he does... Dare I say the Antichrist? :scared1:

 

[B_hungnewyorker]

I have learned that when I graduate, I am going to be screwed in just about every way imaginable. Honestly, I might even move to the Cayman's and become a dive instructor for a few years. I have a feeling an MBA in finance isn't going to do much for me right now. At least there I'd be broke and happy, as opposed to broke and worrying about my future

If you think that I don't think you'll be worrying about the post MBA job market anytime soon.

 

[B_Nick4444]

that Richard Bookstaber & Peter Bernstein are the MAN!

(hint: read their books)