Peter Schiff vs. Keynesian Economist Greg Mankiw (4/20/09 Schiff Report)
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The nobel prize AND the accompanying cash payment need to be confiscated from Krugman and given to Peter Schiff. This man represents excellence and accurate foresight and analysis in economics. Honestly I wish he'd become a professor...academia needs him because it's being brainwashed by Keynesianism right now, and it's endemic. All the Ivy Leagues are guilty of it, especially Harvard.
Sad...
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@BogartWestern The reason they're brash is because the system is fucked up and they're sick of being ignored, laughed at, and being seen as the weirdo fringe extremists of economics.
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mankiw isn't what schiff is making him out to be. "basic economics" to schiff means "austrian economics". mankiw speaks truths that if they were to be applied to the economy they would work, but schiff is so market-oriented he can't bring himself to reconcile with keynesian economics. i agree with schiff 99% of the time, if not more. i agree with mankiw much of the time, although he's rather blah. at least he's not as brash as schiff. if austrians want change, they need to develop tact.
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@Sivels Krugman predicted the financial crisis. He, and everyone else, could see that this was a bubble. How could it not have been? Income for the people to whom these loans were given was going down, but the price of their loan was going down. That's a bubble.
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much of the theory you disagree with is actually monetarist
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@BikiniBabe1985 lol, nice.
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100 dollars in my pocket would actually be 102 dollars in my pocket with "negative 2% rate of interest" yeah. spend spend spend irationally.
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negative rate of interest - what's that? negative 2 percent? haha. mathematical impossibilities abound
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I don't know, who are you to call a turnip clever?
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@tzlifts Who are you to call Elton John a faggot?
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Mankiw is actually a New Keynsian. Read his papers. He has different views than many other prominent Keynesians, but he isn't exactly a Chicago-style monetarist.
jrs89 2 years ago 4
he's so bad at economics that he predicted the financial crisis. Now how many keynesian "economists" can say they did that?
Sivels 2 years ago 3