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If you want to use the scientific method for evaluation
Posted on: November 30, 2017 at 15:04:04 CT
JeffB MU
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the Austrian School of economics wins hands down.
For instance, students of the Austrian school warned of the idiocy of the Federal Reserve policies for several years before the "Lehman Moment" and gave detailed predictions of how things would play out, while the mainstream Keynesian Economic School advocates literally laughed at them on the air.
Tragically, after the fact, Ben Bernanke, one of the key players in the catastrophe, and one of those proclaiming that all was well shortly before everything blew up in his face, and by extension in the face of all people throughout the world, was reappointed as Chairman of the Federal Reserve and named "Man of the Year" by Time Magazine.
Stupid, just stupid.
For instance, students of the Austrian school warned of the idiocy of the Federal Reserve policies for several years before the "Lehman Moment" and gave detailed predictions of how things would play out, while the mainstream Keynesian Economic School advocates literally laughed at them on the air.
Tragically, after the fact, Ben Bernanke, one of the key players in the catastrophe, and one of those proclaiming that all was well shortly before everything blew up in his face, and by extension in the face of all people throughout the world, was reappointed as Chairman of the Federal Reserve and named "Man of the Year" by Time Magazine.
Stupid, just stupid.
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If you want to use the scientific method for evaluation - JeffB MU - 11/30 15:04:04