156 comments on Steven Chu at the 2009 EIA Energy Conference
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156 comments on Steven Chu at the 2009 EIA Energy Conference
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I think, on the other hand, that if we were all properly trained in economics, particularly the prize winning economics of recent decades, we would all be dealing in risk management and derivatives. Wouldn't that be a wonderful world! Economics is the most sleazy of the sciences by far. But people with money seem to believe in it, mainly because economists really suck up to people with money, I think.
Don't get me wrong. There are parts of economics that I consider to be a valid study of system behavior. Then there are other parts that I consider to be total propaganda and brain cleansing (of a kind far more effective than your everyday colon cleanse).
No, you idiots! The piece of paper (a.k.a. legal contract) called the "mortgage" does not pay the monthly rent to the bank. It is the poor unemployed schnook who lives in the house who pays the rent.
But he can't pay the rent because he is unemployed. And he is unemployed because you morons off-shored his job --all in the name of "economic efficiencies".
So dear economists; the real cause of the crisis lies not in the "subprime mortgages" or in our stars, but rather in the maroon who stares back at you from the mirror every morning.
_____________________________________
/end ad hominem attack on economists (that is if they qualify as species hominem, wink, wink)