The Physics of Wall Street

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I highly recommend this book to poly and others on the Board who are interested in "reputable economists."

The Physics of Wall Street: A Brief History of Predicting the Unpredictable by James O. Weatherall.

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stuff
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Nov. 24, 2012 4:59 pm

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Weatherall isn't even an economist, Sutff. Read his bio.

I'd probably recommend a couple of titles by Nobel Laureate Joseph Stiglitz....the guy shown the door at the White House. He is former Chief Economist of the World Bank.

"The Price of Inequality" and "America, Free Markets, and the Sinking of the World's Economy".

If your local library doesn't have them, they are available at Barnes and Noble or Amazon.

"The Bubble and Beyond", Michael Hudson, is another goodie.

Hudson is a former Wall St. analyst/consultant, helped establish the globe's first Sovereign Wealth Fund, is an advisor to governments and is research professor of economics at Univ. of Mo. (K.C,)

Retired Monk - "Ideology is a disease"

polycarp2
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Jul. 31, 2007 4:01 pm

Yeah, yeah, yeah, we've read that same list of books for years. Why not read something new for a change?

As a physicist, Weatherall is a better economist than some on this Board who pretend to understand economics and economic history. For example, those who conflate fiscal policy with monetary policy, or who do not understand Schumpeter's theory of "creative destruction."

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stuff
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Nov. 24, 2012 4:59 pm

Actually, the books are fairly recent...other than Hudson's. Try this Hudson book:

"Trade, Development and Foreign Debt"

Maybe you read them before they were written. Probably a physicist should stick to physics or at the least quote reputable economists with proven track records to back his claims.

I'm well aware of "creative destruction". Buying up profitable companies and dismantling them because. assets exceed the purchase price is a part of that. Not a whole lot of creation going on there...just destruction.

Fiscal policy and monetary policy are entertwined. They always have been. Attempting to separate the two is what brought us to this mess of massive debt. They are inter-related.

Retired Monk - "Ideology is a disease"

polycarp2
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Jul. 31, 2007 4:01 pm

Perhaps a retired monk should stick to theology?

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stuff
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Nov. 24, 2012 4:59 pm
They are inter-related.

As I stated. They are also different things.

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stuff
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Nov. 24, 2012 4:59 pm

Twisting words and definitons into pretzels doesnt negate facts.

Fiscal Policy - Policies by the government - like giving tax breaks to the largest corporations and allowing the rich to get a free ride on their taxes - or polices such as NAFTA - whcih is basically a 10,000 page document Increasing the power of Money and Decreasing the poer of Labor thru special tax breaks etc

Monetary Policy - Policies set by the Federal Reserve - such as free cashola for the Banksters - or bankster bailouts - or QEternity.

Both are used to benefit the top 1% at the detriment of the LAW, the environment and the vast majority of people -

They OWN the Fed so the Monetary Policy is easy - they also OWN the politician and the governing process - the Banksters accomplished this by BUYING the politician and Capturing the governing process to the point where they now take home 93% of all new income.

They Should probably pay 93% of all new revenue required by the government.

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Scappoose
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Mar. 30, 2012 7:49 am

Why does everybody have their panties tied in a knot? I simply recommended a book that sounded interesting to me and, instead of responding to the topic, people fly off the Board with accusations of "Twisting words and definitons into pretzels" and "negating facts."

If these comments are not off-topic and trollish, then I am misinformed about the matter.

Drc, please correct me if I am wrong.

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stuff
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Nov. 24, 2012 4:59 pm
Quote stuff:

Perhaps a retired monk should stick to theology?

If monks stuck to theology, the Father of Genetics would have remained in his abode reading/commenting on religious texts.

Most monks are academics...not theolgians.

Retired Monk - "Ideology is a disease"

polycarp2
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Jul. 31, 2007 4:01 pm
Most monks are academics...not theolgians.

What, may I ask respectfully, was your academic area of expertise, poly?

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stuff
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Nov. 24, 2012 4:59 pm

Economics, psychology, sociology, history. some of the natural sciences. An interest in anthropology (particularly Native American cutures) , but as yet no in-depth studies of anthropology, just surface stuff. Too many fields of study are available and there is too little time to immerse myself in all of them or there would be a longer list.

I'm one of those who has a 99th percentile aptitude for all fields of human endeavor.... except mechanics...and an interest in all fields except mechanics. In simple terms, that means if I study something, I'm more adept at it than nearly anyone employed in the field.

I have an aversion to machinery.

A monk's education ends at the death bed. The vocation suits me.

Retired Monk - "Ideology is a disease"

polycarp2
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Jul. 31, 2007 4:01 pm

Very impressive credentials, indeed.

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stuff
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