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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: tonto who wrote (28937)3/31/2005 4:00:52 PM
From: GraceZRead Replies (1) of 306849
 
One can have a great fundamental understanding of economics and it will not help you make money or predict the future one bit. The best you can do to make money is what everyone else does, try to make reasonable choices today given the probability of this or that happening in the future. Add in government and you have a force that will trash whatever assumptions you might have had.

Governments and their mistaken forays into horrible economic policies have ruined whole generations. Look how long it took for communist countries to finally give up on centrally controlled economies? And still, we didn't learn from their suffering. We have a centrally controlled monetary policy. It has been known for over a century that it is impossible for a group of smart guys to know more than the collective knowledge contained in a free market. In a centrally controlled economy, those with power don't know and those who know don't have power. In a free market, the individual market participants know, act and this knowledge comes out in price, they have the power.

The academics keep thinking that they can be smarter, get better information, have higher motives and then they can make up for the flaws in free markets. Ha!
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