Options:

Archived: Those who predicted the recession

If you're uninterested by or sick of politics, I'd steer clear of this thread.

Keynesianism has dominated modern economic theory for a while now. There are alternative economic theories but they're often ignored. I'd just like to quickly point out the accuracy with which a few economists did, or did not, predict the recession.

You may not want to watch each video through it's entirety because taken together they're pretty lengthy.

First, here is a compilation of videos of Peter Schiff, President of Euro Pacific Capital and former economic adviser for Ron Paul during the 08 campaign. All the videos are taken from 2006-2007:

http://www.youtube.com/watch?v=2I0QN-FYkpw

Next is a video from MSNBC's Morning Joe program in which Ron Paul is interviewed. The relevant portion starts at 1:33:

http://www.youtube.com/watch?v=MQ3JNcMDWwg

Last is another compilation of videos from 2005-2007. This one is of the man currently with authority over our economy, Ben Bernanke who is Chairman of the Federal Reserve:

http://www.youtube.com/watch?v=INmqvibv4UU

Taken together these serve as pretty strong evidence in favor of the Austrian School of Economics and sound money. One correct prediction doesn't instantly validate the theory, but it's also worth noting that the theory's founder, Ludwig von Mises, is often thought to have predicted the Great Depression.

Very good post.. Sadly I am still trying to find info on the recession getting better but all I find is that its going to get worst

if anyone finds anything on getting better link me to it.. and I really don't want to hear it will eventually get better just wait lol

apparently the total opposite is gonna happen

Good read tho

The recession will get worse, much worse before it gets any better. It is a matter of cycles. Everything in nature operates on a cycle of highs and lows.

There will be signs of improvement and there will be good news, but this will hide the bad news. Currently California is in serious finical trouble. More states are reporting double digit unemployment. But this is being hid by news of housing sales improving.

The economy will slide down hill and probably bottom out around Jan, 2010. I am not sure how many people on this board were alive during the major recession of the Carter years, but it took almost 8 years to fully recover from that one. Everyone who voted for Obama thinking he would solve all of our problems is in for a rude awakening. Things will get worse. Jobs will be lost, and people will loose it all. But, the economy will rebound. Pouring money into an economy has never worked, not ever. Japan tried during the 1990’s, it failed. The US tried back in the 1930’s, it filed. Germany tried in the 1920’s, it failed. England tried during its problems in the 1800’s, it failed. It has never worked!

Have any of you seen any stimulus money? I doubt it. So, maybe mom and dad won’t be able to buy you a few games this year. Maybe you won’t be able to get a new computer system this summer. Look at how many young people are not working. This is because so many older people are taking those same jobs.