Professor Elam

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Where is the Credibility, Critical thinking

I was just listening to two 'experts' on the economy, one head of Moody's economy.com and the other the CEO of Google.  The economist said the govt needs to spend more money and then  went on to say the the govt in its wisdom was going to decide which banks are worth saving and which are not, gee weren't these the same guys running Fannie Mae and Freddie Mac, what would they know about running a bank?

As if that was not enough, the economist went on to say that he oculd not have imagined the ecomomy like this even 12 months ago, but gee he was just listing all the cures, gosh that was fast from I cannot imagine to I know just what to do in nano seconds. 

The Google CEO seemed to think the govt needed to spend lots of money this from a business with no debt, I don' think this guy has both feet on the ground, why not advocate the govt go the same way as Google,
like how does lots of debt to third parties help, why not just increase take home pay with less tax witholding

Oh well, analyze what theses folks are saying and compare it to reality, critical thinking
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2 responses to “Where is the Credibility, Critical thinking”

  1. Austin Kroll Avatar
    Austin Kroll

    This situation plays right into the arguments pushed by Keynsians who aspire to create massive government control and centralized economies. Right now, the Keynsians are coming out of the woodwork, knowing that this situation is their golden opportunity to push their theories into the forefront. Supply-siders have struck back recently, with their recent full-page article, signed by 200 PhDs, taking President Obama and his call for government intervention, errr… Interference; to task for pushing Keynsian solutions.
    The talking heads have lost all ability to rationalize and reasonably discuss their solutions/ideas. They are so fixated on out-talking their adversaries, that they fail to coherently tell us why their solutions work. This occurs mainly with Keynsians because over history, they have less credibility when it comes to success. They also know that if they were to fully-explain their solutions, people who bury their wallets in fear.

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  2. Dennis Elam Avatar
    Dennis Elam

    Lots of fear on wall street as stocks sank again, my target for friday is the fall lows at s and p 740
    will the media ask the admin why the stock market is still tanking if the plan is such a great idea?

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