Global Economy

Out of context: Reply #8

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  • ukit 0

    Whenever there is a perception the system isn't working there is always going to be a group of people who advocate for doing something radically different even if their ideas are more or less unproven. In this case the Ron Paul/ Austrian economics crowd who are pretty much betting on the system collapsing with investments in gold and silver etc.

    The advantage of being a critic from the sidelines like this though is that you can never be proven wrong. It may well be that our economic system is headed for collapse but that could be in spite of everything that has been done rather than because of it. The real culprits could simply be globalization and transformation of the economy rather than the fiat money system or central banking being inherently unsustainable. Its easy to criticize the Fed but hard to criticize globalization even though its an inherently destabilizing trend.

    • Alan Greenspan was proven wrong and he admitted that he was wrong.JSK

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