Rantings and tirades of a frustrated economist.
No offense Aaron.But stuff like this, or a cruise through The Financial Post any day of the week - it's starting to convince me that a degree in economics is as useless as one in journalism, interior design, or fine arts!I am a garden variety father, husband, and company exec and I have more financial smarts in my shit than these media idiots have in their 'degrees'.Dear God - if they are dumbing down the study of economics to produce these idiots...are the STEM fields far behind?
@Glen Filthie,Having a B.S. degree in Managerial Economics and an MBA, I can attest that at NO time did any class- or professor- discuss the difference between a currency (like the dollar) and money (gold or silver).I learned about REAL economics after leaving school, by studying, reading and watching.Since a degree doesn't necessarily make one an expert in a field. It merely gives more insight and understanding into a certain area. To gain expertise requires continuous work. Those who obtained the pedigree and decided that THIS is what makes them an expert, are undoubtedly fools.So it's not about the school, or the classes. It's about whether the graduate continues to learn, or not. IMHO.
I recall seeing that one a long time ago, but it is much on par with the stupidity presented as financial news whether man or woman.How many times do we here on CNBC or similar about the low inflation? Low inflation? Really? And this from male Wall Steet fund managers.
Silly bint.Fluctuations in the price of gold are caused by suckers speculating in paper gold promissory notes from depositories that do not allow audits of gold stocks the paper is issued on.If you don't hold it, you don't own it. When the music stops, the only people who will get to sit down are the ones holding physical. Everyone else will get "so sorry, no more gold here", and 'compensation' in the form of now worthless federal reserve notes.
She has the only attribute that really matters in TV "news" - she is pretty!!
I got an engineering degree 14 years ago. It was reasonably rigorous. 60% of engineering majors at my school switch to other degrees, including my own brother. Most go into business when they realize they can't do the math. Funny thing is, I think my brother makes more than me. At least it looks that way. He bought one heck of a trophy wife and works for JP Morgan. He needs a bumper sticker that says "Bernanke financed my wife's boob job and her Audi"
No they are not far behind. They're already trying it in an effort to get more girls into computers/STEM. It will be sad when that turns into another fluff-field like the rest.Regarding this video of these two retards, there is one reliable indicator of when we will be in a gold/silver bubble. When we hear words like during the Dot-Com era: "Some people are suggesting that the usual methods of evaluating a company's worth no longer apply."I heard a similar sentiment two years ago regarding China: "Some people are suggesting that the usual rules of economics no longer apply." At the end of the BBC documentary "How China Fooled The World".When we hear something like that, we'll know.
Ah yes, I remember sending this vid to Bern Chapin a few years ago. Good old Bern (and good old Schiff) inspired me to get into silver in 2010.https://www.youtube.com/watch?v=ZdOr5IyupeU
To quote another blogger, " The stupid, it burns!!!"
I have been curious about the commodity market in gold. I see that you can buy gold on the market, but are you buying the actual mineral or is somebody leveraging the gold they have by selling paper backed by this fixed amount of gold?
Is it the reporters who are that stupid? Or are the news stations hoping the viewers are that stupid?
I believe the paper gold market is leveraged 100:1 - that is to say, there are 100 paper claims on every physical ounce of gold. Good luck sorting that out when the music stops.STEM fields: unfortunately, at least in civil engineering, the politics outweigh the maths. If you're a white male, forget about it. If there's a Brazilian titmouse in the project area, forget about it. If it increases CO2, forget about it. We have a President that talks about rebuilding our infrastructure, which is desperately needed, but what that means in reality are choo choo trains and various boondoggles, rather than increasing capacity on our roads or fixing our sewer and water systems. This is why we have bridges collapsing and killing people.All a good, intelligent person can do is wait this shit out until it all collapses.
This is part of the campaign against gold and silver.I do like the question, "is gold backed by anything at all" vs "the US dollar", which as we all know is backed by PRESIDENT BARACK OBAMA and his team of wizards.I rarely listen to such tripe. The entertainment pages are better - at least the latest on Justin Bieber, Lindsay Lohan, and Taylor Swift has a lot about sex, drugs, and violence - interesting stuff.
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