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83 comments on A Look at the EIA Revision Pattern

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Nate Hagens on October 6, 2006 - 1:19am Permalink | Subthread | Parent | Comments top
Hotelling theory doesnt jive with the 'shop-til-you-drop' behaviour evolution endowed us with. If we save something valuable in the ground, someone else will sell theirs and use money to buy things or live high on the hog, thereby outcompeting us. That is of course, if the systems measure of 'wealth' is money. The day will come when it is something else.  For now a bird in the hand is worth two in the bush.
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Halfin on October 6, 2006 - 1:03pm Permalink | Subthread | Parent | Comments top
If that were true then no one would ever save. They would spend in order to get the benefits you describe.

Some people say, nobody I know saves, everyone borrows. But remember that all borrowing comes from someone else's savings.

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GreyZone on October 6, 2006 - 4:26pm Permalink | Subthread | Parent | Comments top
Get real. In the modern economy almost none of the credit, which is created with a snap of a banker's fingers out of thin air, is backed by someone else's savings. Stop using antiquated theory that does not match the actual usage patterns of the system. The credit system today does NOT have $1 of savings for each dollar of credit extended. In fact, that is frequently discussed as one of the major dangers in the modern credit system.

The reality is that most borrowing has little or nothing to do with someone else's savings.

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Oil CEO on October 8, 2006 - 8:48am Permalink | Subthread | Parent | Comments top
Grey Zone. Stop busting on Halfin. Once you stop, he will start to engage you in a meaningful manner. I love you both.
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83 comments on A Look at the EIA Revision Pattern

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