So instead of repeating them here, let's get philosophical. Because that's what economics is, really, a philosophy of human nature and behavior. And after a century of trial, error and more error, it's clear that the business cycle is a hard-wired part of the human psyche, rather than some act of God, like an earthquake or flood.
Yes, yes ! thank you for saying that.
------> and I would venture to add, "at times, guided by irrational accounting practices, or irresponsible financial forecasting" --add a band of political lunatics with wild tongues and bingo !! perfect definition of "The Economy"
And only then, when the risk-taking side of the American
psyche has been seriously slapped around, will the fun start again.
true. however... we could have fun on the short side no ?
excellent post ! i enjoy reading your analysis John. |
