tag:blogger.com,1999:blog-6244999628674918029.post2545972726410920384..comments2024-03-28T06:31:29.549-05:00Comments on Bayou Renaissance Man: "The Largest Legal Transfer of Wealth in U.S. History"Peterhttp://www.blogger.com/profile/10595089829300831372noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-6244999628674918029.post-90746202312819535042015-11-09T09:26:45.510-06:002015-11-09T09:26:45.510-06:00Every boom is followed by a bust, although predict...Every boom is followed by a bust, although predictions about the timing differ.<br /><br />If there is any pundit who consistently gets the timing right, it must be purely by accident. Every new generation engages in "irrational exuberance" and fiscal foolishness in one way or another, we seem to be unable to learn from past experience.<br /><br />I am generally leery of "alternative" economic theories and proposals (e.g., return to the gold standard) because I suspect that whatever is wrong with the current economics mainstream, adopting any of the "cures" proposed by the alternatives would be worse than what we have presently, due to the law of unforeseen consequences.<br /><br />Simple rules of thumb (neither a borrower or a lender be, or both only in moderation; plan your career like you would a business, with periodic adjustments for reality; diversify savings and investments, avoid high-risk, high-yield ones; keep yourself in good shape physically; work on relations with family and friends; don't obsess too much over dangers, we all die) are quite effective. Too much time spent studying what the trained specialists (economists and central bankers) can do better takes away from earning a living, which is quite hard enough as it is.<br /><br />"Preppers" have a nice hobby, but their preparations will only be useful for the (quite narrow) interval between the situation today and the complete breakdown of social order (which will mean death for most of us regardless of our preparations, if it comes).<br /><br />Just my two cents.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-6244999628674918029.post-68221755219970656492015-11-09T06:26:25.834-06:002015-11-09T06:26:25.834-06:00The operative word there should be "THEFT&quo...The operative word there should be "THEFT" not transfer.0007noreply@blogger.comtag:blogger.com,1999:blog-6244999628674918029.post-91235849794319168002015-11-09T02:05:45.338-06:002015-11-09T02:05:45.338-06:00Ann Barnhardt published this info two years ago. T...Ann Barnhardt published this info two years ago. The crash is coming. When is the question.Truth Corpsnoreply@blogger.com