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They say, an old American proverb, hindsight is 20/20.
I wonder if anyone here thinks GM and Chrysler are reflecting on their mistakes, or, do we all think they're doing business as usual?
Probably those at GM and Chrysler who would be "reflecting on their mistakes",...have been replaced by the federal government and the "car czar ". The rest probably has little say with directives emanating from the czar.
Well, do this then, report the thread, and maybe a moderator will move it to what YOU think the proper thread catagory would be. I wouldn't object to that.
Well, do this then, report the thread, and maybe a moderator will move it to what YOU think the proper thread catagory would be. I wouldn't object to that.
It's not the thread or the location I disagree with, it's your claim that it wasn't political. In fact since it was posted with a rather obvious political slant, it's exactly where it should be. Had you not wanted it to be discussed as a political topic, you would have posted it elsewhere.
Friedman received one,...Buffett didn't. Friedman received a Nobel Prize because he DID SOMETHING.
So did Paul Krugman - a Keynesian.
The fact is - Buffett CLEARLY knows a LOT. You don't get to his level of wealth (2008 ranking by Forbes as the richest person in the world) by being ignorant about finance and the economy.
Keep in mind too that Buffet's experience is with the real world - not some ivory tower think tank.
Ken
Last edited by LordBalfor; 11-03-2009 at 11:14 AM..
So now a Nobel prize is worth something? I thought it was meaningless.
In economics it's meaningless. It's a nice plaque on the wall but to give someone a prize of that sort would mean that they clearly have the only and final answer and that's just never the case in economics. If it was that easy we'd never have economic downturns..
In economics it's meaningless. It's a nice plaque on the wall but to give someone a prize of that sort would mean that they clearly have the only and final answer and that's just never the case in economics. If it was that easy we'd never have economic downturns..
Yup.
The fact is, economics is a very SOFT science - anything that deals with human behavior ALWAYS is. That's why you have such diverse views among economists - and why you NEVER find them ALL in agreement about much of anything.
The fact is - Buffett CLEARLY knows a LOT. You don't get to his level of wealth (2008 ranking by Forbes as the richest person in the world) by being ignorant about finance and the economy.
Keep in mind too that Buffet's experience is with the real world - not some ivory tower think tank.
Ken
Do you think he might have good connections as part of what he "knows"?
Do you think he might have good connections as part of what he "knows"?
Of course - just as any ultra-sucessful businessman does.
What of it?
Ken
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