My Understanding Of Austrian Business Cycle Theory

[Kevin_Kennedy]

Simply put, Mises is 100% against while Friedman is not. For us anti-fed advocates, anything less than 100% isn't good enough.

The Fed is the reason why we will pull out of this Depression. Europe does not really have a FED, and they are more that likely going to have to dissolve their union.

ECB: European Central Bank home page

 

[marcell]

For a while, Brazil is ok! Happy because of that!

 

[Richard-H]

If they're students of the Austrian school they literally learned nothing at all.

I also love the Friedman part as if somehow Friedman and Mises are like-minded or something

Well I let that one go because I can at least see how that mistake could be made, you'd have to get into the nuances between the Austrian and Chicago schools to know the difference. But calling Greenspan or Bernanke Austrians when the Austrians explicitly and unanimously condemn central banking is absolutely ridiculous.

So what? We have a plethera of republicans running for federal office on a platform of anti-government sentiment.

Wasn't it Reagan who said:

"...Government is the problem..." while he was running for federal office?

The idea that Greenspan and Bernanke were anything other than proponents of the absolute "Free market" is nonsense.

Bernanke is the guy that went to congress and demanded 800 billion be given to the banks no questions asked or the banks would collapse the economy - essentially an act of war against the U.S. governement.

And they did.

These guys just figure that if a free market proponent weren't running the Fed then somebody else would.

Are you seriously suggesting that Ronald Reagan's and George W. Bush's appointments to the Fed chair weren't Austrian Free Market proponents?

Ya goota be kidding!

Or are you just point out different shades of black?

 

[Paulie]

Simply put, Mises is 100% against while Friedman is not. For us anti-fed advocates, anything less than 100% isn't good enough.

The Fed is the reason why we will pull out of this Depression. Europe does not really have a FED, and they are more that likely going to have to dissolve their union.

Bernanke apologized to the US for the Fed's role in the Great Depression.

Now they are on the same track, doing the same things, hoping for different outcomes.

You understand NOTHING about economics.

 

[Richard-H]

Simply put, Mises is 100% against while Friedman is not. For us anti-fed advocates, anything less than 100% isn't good enough.

The Fed is the reason why we will pull out of this Depression. Europe does not really have a FED, and they are more that likely going to have to dissolve their union.

Bernanke apologized to the US for the Fed's role in the Great Depression.

Now they are on the same track, doing the same things, hoping for different outcomes.

You understand NOTHING about economics.

Reality has proven that economists understand NOTHING about economics.

Economists are babbling baffoons, caught up so much in theory and complete out of touch with reality.

Since the advent of economics, when have they ever been right? If economists and economic theory were worth a damn there would be no more economic catastrophes.

Why wasn't every economist in the world screaming about derivatives and credit default swaps and sub-prime mortgages years ago?

Sure, you'll find one in a millions that was, but the vast majority didn't have a clue.

The average person, with a little experience in life, has a much better understanding of economic than an army of economists.

 

[Kevin_Kennedy]

I also love the Friedman part as if somehow Friedman and Mises are like-minded or something

Well I let that one go because I can at least see how that mistake could be made, you'd have to get into the nuances between the Austrian and Chicago schools to know the difference. But calling Greenspan or Bernanke Austrians when the Austrians explicitly and unanimously condemn central banking is absolutely ridiculous.

So what? We have a plethera of republicans running for federal office on a platform of anti-government sentiment.

Wasn't it Reagan who said:

"...Government is the problem..." while he was running for federal office?

The idea that Greenspan and Bernanke were anything other than proponents of the absolute "Free market" is nonsense.

Bernanke is the guy that went to congress and demanded 800 billion be given to the banks no questions asked or the banks would collapse the economy - essentially an act of war against the U.S. governement.

And they did.

These guys just figure that if a free market proponent weren't running the Fed then somebody else would.

Are you seriously suggesting that Ronald Reagan's and George W. Bush's appointments to the Fed chair weren't Austrian Free Market proponents?

Ya goota be kidding!

Or are you just point out different shades of black?

Yes, that's exactly what I'm suggesting. Neither Greenspan nor Bernanke are Austrians. Austrians oppose central banking, so no Austrian would be the chairman of the Federal Reserve. It's not different shades of black, it's black and white. If you support central banking you're not an Austrian, plain and simple.

 

[Paulie]

The Fed is the reason why we will pull out of this Depression. Europe does not really have a FED, and they are more that likely going to have to dissolve their union.

Bernanke apologized to the US for the Fed's role in the Great Depression.

Now they are on the same track, doing the same things, hoping for different outcomes.

You understand NOTHING about economics.

Reality has proven that economists understand NOTHING about economics.

Economists are babbling baffoons, caught up so much in theory and complete out of touch with reality.

Since the advent of economics, when have they ever been right? If economists and economic theory were worth a damn there would be no more economic catastrophes.

Why wasn't every economist in the world screaming about derivatives and credit default swaps and sub-prime mortgages years ago?

Sure, you'll find one in a millions that was, but the vast majority didn't have a clue.

The average person, with a little experience in life, has a much better understanding of economic than an army of economists.

Interestingly enough, and in fact IRONICALLY enough considering your disdain towards Austrians, it was just about ONLY the Austrians that were screaming about the credit situation.

Only the REAL Austrians, I should say.

 

[Richard-H]

Well I let that one go because I can at least see how that mistake could be made, you'd have to get into the nuances between the Austrian and Chicago schools to know the difference. But calling Greenspan or Bernanke Austrians when the Austrians explicitly and unanimously condemn central banking is absolutely ridiculous.

So what? We have a plethera of republicans running for federal office on a platform of anti-government sentiment.

Wasn't it Reagan who said:

"...Government is the problem..." while he was running for federal office?

The idea that Greenspan and Bernanke were anything other than proponents of the absolute "Free market" is nonsense.

Bernanke is the guy that went to congress and demanded 800 billion be given to the banks no questions asked or the banks would collapse the economy - essentially an act of war against the U.S. governement.

And they did.

These guys just figure that if a free market proponent weren't running the Fed then somebody else would.

Are you seriously suggesting that Ronald Reagan's and George W. Bush's appointments to the Fed chair weren't Austrian Free Market proponents?

Ya goota be kidding!

Or are you just point out different shades of black?

Yes, that's exactly what I'm suggesting. Neither Greenspan nor Bernanke are Austrians. Austrians oppose central banking, so no Austrian would be the chairman of the Federal Reserve. It's not different shades of black, it's black and white. If you support central banking you're not an Austrian, plain and simple.

By the same logic, Ronald Reagan and George W. Bush were against big governement, so they could not possibly be Presidents of the largest government in the world.

I know that Austrains were singing the praises of Greenspan and Bernancke for years - until the shit hit the fan. Now they're abandoning them like rats from a sinking ship.

Face it the Austrian school is dead. Killed by it's own banking system. No matter how much you try to wiggle, wiggle them's the facts.

 

[Oddball]

Face it, Buckwheat, you know noting...I repeat...nothing about Austrian economics or its adherents.

If you did, you wouldn't have made such a patently ridiculous comment.

 

[Paulie]

I know that Austrains were singing the praises of Greenspan and Bernancke for years -

Name some.

 

[Oddball]

Name ONE.

 

[Paulie]

Name ONE.

Yeah, and then comprehensively establish how that person adheres to classic Austrian thinking, so we're not just being given a name of some dude who merely pays lip service to deregulation.

Because it's become blatantly obvious that liberals think anyone who even utters the word deregulation is a card carrying Austrian economist.

 

[Paulie]

Even though that would be literally IMPOSSIBLE, considering that Austrians don't support the existence of the Federal Reserve, Richard

 

[Kevin_Kennedy]

So what? We have a plethera of republicans running for federal office on a platform of anti-government sentiment.

Wasn't it Reagan who said:

"...Government is the problem..." while he was running for federal office?

The idea that Greenspan and Bernanke were anything other than proponents of the absolute "Free market" is nonsense.

Bernanke is the guy that went to congress and demanded 800 billion be given to the banks no questions asked or the banks would collapse the economy - essentially an act of war against the U.S. governement.

And they did.

These guys just figure that if a free market proponent weren't running the Fed then somebody else would.

Are you seriously suggesting that Ronald Reagan's and George W. Bush's appointments to the Fed chair weren't Austrian Free Market proponents?

Ya goota be kidding!

Or are you just point out different shades of black?

Yes, that's exactly what I'm suggesting. Neither Greenspan nor Bernanke are Austrians. Austrians oppose central banking, so no Austrian would be the chairman of the Federal Reserve. It's not different shades of black, it's black and white. If you support central banking you're not an Austrian, plain and simple.

By the same logic, Ronald Reagan and George W. Bush were against big governement, so they could not possibly be Presidents of the largest government in the world.

I know that Austrains were singing the praises of Greenspan and Bernancke for years - until the shit hit the fan. Now they're abandoning them like rats from a sinking ship.

Face it the Austrian school is dead. Killed by it's own banking system. No matter how much you try to wiggle, wiggle them's the facts.

Find for me one instance of an Austrian economist praising either Greenspan or Bernanke.

 

[Kevin_Kennedy]

Even though that would be literally IMPOSSIBLE, considering that Austrians don't support the existence of the Federal Reserve, Richard

I'm putting my money on Milton Friedman being mentioned, even though we've already established he's not an Austrian.