Hi Iceberg
Since we've been dialoging the past several weekends, why don't you just come over and have a beer? =)
The key elements of a Type II, I believe, are misinformation and falsehood. Intent doesn't have much to do with it, although those with intent should face a higher penalty than those without intent.
Example: There was a report published about the Jaz disk recall that specified 750,000 rather than 75,000. Some people at the IOM and SyQ threads believed it and posted it as fact. And since they had a 'verifiable' source, that made it dangerous to newbie investors. Fortunately, it was corrected by others who knew better. There probably wasn't an intent to deceive, just a regurgitation of falsehood. The difference between that and Joel's 'fax' is pretty evident. And both cases are dangerous.
Now, Greenspan says what he does not based on falsehood. Economic data can be interpreted RIGHTLY in different ways. So Greenspan expresses an opinion, and it is an opinion that has some factual merit, but isn't necessarily the Gospel to all economists -- but being that Greenspan is the current economist in charge, he gets to play the jukebox. The first thing I learned in the years of achieving my Econ degree is:
If you lay all of the economists on Earth end to end around the equator, they would never reach.......
......a conclusion.
-MrB |
