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Politics : Stockman Scott's Political Debate Porch -- Ignore unavailable to you. Want to Upgrade?

To: yard_man who wrote (9851)	11/28/2002 12:01:26 PM
From: Jim Willie CB	Read Replies (1) \| Respond to of 89467

a piece from my article, even Econ trained are ignorant the below is a true story But the problem is even more frightening. Over the years I have personally come into contact with at least a dozen colleagues with M.S. or Ph.D. degrees in Economics. Few have continued within their native field, as most migrated to related work like sales forecasting or marketing research or business development. In a conversation last summer, a certain VP of a firm had a conversation with me regarding the USDollar. I had reminded him of my spring expectation that our currency would suffer devaluation. He was intrigued by the description of Gresham’s Law, whereby bad money displaces good money. He holds a B.S. in Economics, and stated to me that the cheaper dollar will make our vast foreign imports less expensive, thus aiding our economy. The opposite is true, as I pointed out, laying the groundwork for renewed price inflation. He shook his head, “this stuff aint easy.” No, Economics is not easy. / jim