For all you economists out there

[Apotheosis]

I just stumbled across the most wonderful website http://www.polyconomics.com/ and am going to glean as much information from it as possible, but I suspect that the information found on it will definitely help give a bigger picture as to the world economy. Or economies in general.

[Edited on 12-18-0505 by Apotheosis]

[Gan]

Interesting site. No doubt Wanniski's credentials are impressive enough to merit a strong customer base for his analysis and consultation. I even subscribe a little to the supply-side economic theory because of the revelance of the human variable in the marketplace. However, I think that solely subscribing to that can limit your forecast. This reminds me of one of my ecnomics professor's consulting business that he does on the side as well as teaching... http://www.rcfecon.com/smithbarton.htm


This quote below found on Wanniski's site describing where Jude is going with his analysis concerns me a little. Reminds me of the old days where the gold standard was the shiznit. However, even Greenspan was a fan of the gold standard even though he did not let it interfere totally with the way he managed the Fed.


Originally posted by Polyconomics.com
Polyconomics' model discounts trends by understanding human action - the incentives, rewards and risks it responds to. The result means better asset selection and allocation (Wanniski’s model prominently incorporates dollar/gold as a definer of monetary health and predictor of economic conditions).


Here's two places where I do most of my economic reading.

The Economist (http://www.economist.com)

The Dismal Scientist (http://www.dismalscientist.com)

Thanks for the post regardless, I'm always glad to see others involved into the study of economics. Its a subject I hold near and dear to my heart.

[4a6c1]

Wanniski is the shit.

[Apotheosis]

The thing that seems important to me, even though I don't know a whole lot, is that we figure a way to get the $USD back to gold standard.

[Gan]

Bad idea. Without doing a treatse on why the gold standard is bad. I'll just point you to a specific point in Wikepedia that sums it up decently enough.

http://en.wikipedia.org/wiki/Gold_standard#Effects_of_gold-backed_currency

Having a gold standard with a protectionist trade economy where we had little or no trade with other countries might be ok. But its not ok with global trading as it stands now - even with our current trade deficit as it stands now. Way too much room for speculators to make runs on the market of gold back notes.