Comments on: Prometheus, With The Cuffs On

By: James Bond

James Bond — Tue, 18 Mar 2008 09:20:51 +0000

Who cares about models they are as good as the assumptions they employ. Assuming the existence of free markets which are mostly free of manipulation exists in the current world financial system is blatantly wrong.

Read between the lines. Remember what they tell you and understand it properly. For example Adam Smith spoke of the invisible hand, you can't see it but it is manipulating the markets.

By: Pete

Pete — Tue, 18 Mar 2008 05:04:28 +0000

What a well written article...inflatable dolls, volcanoes, Jesus, and $132 cups of coffee. Seriously, the point is clear, and everything was quite well illustrated. Often I think you are the one that truly carries this website Bill.

(Although I do find Mogambo entertaining).

Looking forward to the continuation of this one

By: Smithy

Smithy — Mon, 17 Mar 2008 19:37:09 +0000

Charles Dickens said that if you earn a Pound (20 shillings) a week and you spend a Guinea (21 shillings) you will have poverty but if you only spend 19 shillings you will have prosperity.
Therefore the difference betwoon your poverty and prosperity is restraining your spending by a simple 10%.
I have used this for the last 60 years and it seems to work very well.
It's a pity the worlds highly educated Economists haven't learnt it also.