The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: GraceZ who wrote (28076)	3/11/2005 4:59:20 PM
From: Elroy Jetson	Read Replies (1) of 306849

Hayek has made a number of his own serious errors. The sons of John Law are legion. When ever you read phrases like "ancient errors die hard" it is a tip-off that someone is indulging themselves. "It's different this time" is always the phrase used to justify a replay of the John Law debacle. You can even apply this same wisdom in nutrition. Man has adapted over long eons to a particular diet. When some genius comes up with with a new improved food that doesn't exist in nature, say hydrogenated oils aka trans-fats, you can safely assume the chances are slim this is a safe food your body can handle properly. If man were different other foods are theoretically possible, but man isn't so they aren't. As you like reading books on economics, may I suggest you read Charles Rist's book still in use at top schools of economics. Zealots like Hayek and Friedman easily fall into error. You need a more balanced organic view of time tested economics rather than the latest flight of self-indulgent lunacy. "History of Monetary and Credit Theory from John Law to the Present Day" March 31, 1938 -- Charles Rist amazon.com .

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