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Politics : Ask Michael Burke

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To: Skeeter Bug who wrote (117509)	1/13/2009 1:35:49 PM
From: Freedom Fighter	Read Replies (1) of 132070

skeeter, There was an interesting question and answer with Bernanke today. One of the questioners brought up the Austrian School of Economics (a rare event if Ron Paul isn't the one asking the questions). The Austrians are basically the only major economists that even had a clue we were heading down a path that would lead to all these problems (the same was true in the late 20s). Bernanke did a good job of deflecting some of the real issues and returned to blaming to the failings of markets instead of the failings of central bankers, governments, the IMF, corrupt politicians, Keynsian and monetary style short term fixes, the domestic banking system, the international monetary system etc... You would think that at some point most bright people who have chosen economics for a career would conclude that their own way of viewing the world is drastically flawed if they never seem to understand or see the problems coming and another group keeps getting it right. I suppose in fact this means that they are either not very bright or know the truth and are so bought and paid for they choose not to discuss it before disaster strikes and also choose not to fix it now.

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