What is Money When the System Collapses?

[Skean Dhude]

(1 July 2013, 03:13)Mortblanc Wrote: They do call economics "the dismal science" for a reason.

The end scenario of any academic economic system analysis and extrapolation is inevitable collapse as the cycles of correction grow more intense as the system becomes larger.

Every model ends in failure.

My Economics professors back in the late 1960s were completely baffled that the system had not collapsed by then.

That is probably caused by the fact that the politicians change to rules. The models kept some variables within reasonable bounds. I bet they never envisaged how much this lot would borrow to keep the ship afloat back in the 60s. Even in the 80s we were amazed at how much it was then. Compared to now it was chicken feed.