Wake Up Time
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I did not intend to insult or patronize anybody, my apologies if I have.
But I stand my ground. According to my observation, many colleagues tend to voice easy, quick and, strangely, almost always radical solutions for some of the world's biggest problems.
How intelligent is it to suggest these solutions ("clear for everybody with half a brain/pulse etc"), when the entire academic elite, incl nobel price laureates, ivy league professors, heads of state and their staff etc etc is divided?
There might be colleagues with exceptional careers in their former life around, in 15 years I have strangely never met one though. I think they are the exception of the rule, really. However, I am not suggesting we are not educated enough to form an opinion, of course not, but it is the certainty and the radical component which bothers me.
In our world, news is a commodity, produced to sell. The anger many feel in the current situation plus the urge for quick and just solutions is catered for by
the respective media ltds. We should refrain from simply parotting what we read the other day and look at the arguments of the other side as well. How many economists suggest to let the banks fail? How many economists actually believe letting Lehman fail was a mistake retrospectively? If a bank fails, what happens to the customers? How many aircrafts can an airline buy without credit? Is credit always bad? If you ignore the complexity of the financial world you are right where the tea party wants you to be, full of blind anger.
I am not suggesting to concentrate on Part A instead,far from that, I am advocating for a more diverse, open view. That is what I meant with many pilots tend to see something as ON or OFF. The world is much more complicated than that.
But I stand my ground. According to my observation, many colleagues tend to voice easy, quick and, strangely, almost always radical solutions for some of the world's biggest problems.
How intelligent is it to suggest these solutions ("clear for everybody with half a brain/pulse etc"), when the entire academic elite, incl nobel price laureates, ivy league professors, heads of state and their staff etc etc is divided?
There might be colleagues with exceptional careers in their former life around, in 15 years I have strangely never met one though. I think they are the exception of the rule, really. However, I am not suggesting we are not educated enough to form an opinion, of course not, but it is the certainty and the radical component which bothers me.
In our world, news is a commodity, produced to sell. The anger many feel in the current situation plus the urge for quick and just solutions is catered for by
the respective media ltds. We should refrain from simply parotting what we read the other day and look at the arguments of the other side as well. How many economists suggest to let the banks fail? How many economists actually believe letting Lehman fail was a mistake retrospectively? If a bank fails, what happens to the customers? How many aircrafts can an airline buy without credit? Is credit always bad? If you ignore the complexity of the financial world you are right where the tea party wants you to be, full of blind anger.
I am not suggesting to concentrate on Part A instead,far from that, I am advocating for a more diverse, open view. That is what I meant with many pilots tend to see something as ON or OFF. The world is much more complicated than that.
Last edited by 711; 27th Sep 2011 at 10:20.
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711 watch this,
The reason we don't listen to economists any more is because they got us into this mess in the first place! The Phd's of this world only speak one language and that is the language of Keynesian economic theory. It's a theoretical nonsense which when applied to the real world doesn't work, it cannot work for the simple reason that more debt cannot be the solution to too much debt in the first place, it suffocates the life blood out of society.
Those experts you talk about all have vested interests in the system, and as such are the last people we should listen to. Life as we know it is not working, we need new voices, voices of wisdom not voices of greed and self interest. It's not called crony capitalism for nothing.
The reason we don't listen to economists any more is because they got us into this mess in the first place! The Phd's of this world only speak one language and that is the language of Keynesian economic theory. It's a theoretical nonsense which when applied to the real world doesn't work, it cannot work for the simple reason that more debt cannot be the solution to too much debt in the first place, it suffocates the life blood out of society.
Those experts you talk about all have vested interests in the system, and as such are the last people we should listen to. Life as we know it is not working, we need new voices, voices of wisdom not voices of greed and self interest. It's not called crony capitalism for nothing.
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I have flown with pilots for whom flying was a second career, and in previous lives they were Lawyers, Doctors (including a heart transplant surgeon), Economists (one flew with me the other day), Engineers, Mathematicians, Research Scientists, and Piano Players in whorehouses.
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711... Being one of those with 10+ years career in finance before flying airplanes, your response is the best I have read on this forum for a long time.
Spot on !!
The world of finance and economics is very complex, yet it is human nature to seek simple solutions to problems. This is what the media capitalizes on. Catering to the masses, they bundle complex issues into overly simplistic rhetoric - often injecting their own political views and beliefs. Personally, I do not trust much, that comes out of the media sausage machine.
Your view above is based on common sense, by asking good questions, which seems to be a rare quality these days..
Spot on !!
The world of finance and economics is very complex, yet it is human nature to seek simple solutions to problems. This is what the media capitalizes on. Catering to the masses, they bundle complex issues into overly simplistic rhetoric - often injecting their own political views and beliefs. Personally, I do not trust much, that comes out of the media sausage machine.
Your view above is based on common sense, by asking good questions, which seems to be a rare quality these days..
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I'm not sure how letting a bunch of investment houses make bad gambles on American property/ PIIGS bonds, then rewarding them for their efforts by bailing them out can be construed as complex. I personally would define that as grand larceny, nothing complex about it.
The complexity comes when the economics professors disguise the pineapple insertion in terms that people do not have the means to understand, however a quick google search will dispel any claims to complexity when referring to Quantitive easing and other Central bank faves for robbing the unsuspecting masses blind!
It's this simple in a nutshell,
Step Aside BBC "Trader": Head Of UniCredit Securities Predicts Imminent End Of The Eurozone And A Global Financial Apocalypse | ZeroHedge
savethemales.ca - Bankers Torpedoed Financial System -- Veteran Trader
Activist Post: Sanctions: Cut the Globalists Off From Humanity
The complexity comes when the economics professors disguise the pineapple insertion in terms that people do not have the means to understand, however a quick google search will dispel any claims to complexity when referring to Quantitive easing and other Central bank faves for robbing the unsuspecting masses blind!
It's this simple in a nutshell,
Step Aside BBC "Trader": Head Of UniCredit Securities Predicts Imminent End Of The Eurozone And A Global Financial Apocalypse | ZeroHedge
savethemales.ca - Bankers Torpedoed Financial System -- Veteran Trader
Activist Post: Sanctions: Cut the Globalists Off From Humanity
Last edited by EXEZY; 29th Sep 2011 at 07:11.
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Am hoping the Greeks get their act together. If this new recapitalisation fund does not come to fruition, the messy breakdown of the Euro zone will be nasty. Fingers crossed....we all need a good resolution to this crisis.
