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House Price Crash Forum

Have You Read The Black Swan Book ?


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This book explains a lot, about the nature of things, and I think, to be honest, nobody understands economics, it is a flawed science, it never makes any sense at all.

Think about it and how can it make sense? Economic models are always based on historical models-this happens so this happens. If I invent an engine that literally runs on water and can use your existing engine then what happens? Tax base of the UK is fecked for starters etc. etc. Economics can never quantify scientific progress so it's basically sh!te. Nor can it forecast wars either.

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  • 2 weeks later...
Guest absolutezero

Think about it and how can it make sense? Economic models are always based on historical models-this happens so this happens. If I invent an engine that literally runs on water and can use your existing engine then what happens? Tax base of the UK is fecked for starters etc. etc. Economics can never quantify scientific progress so it's basically sh!te. Nor can it forecast wars either.

Economics is not a science, despite what economists will tell you.

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  • 1 month later...

And economic forecasting is even bigger rubbish. :)

Remember the Long Term Capital Management disaster when the (mad economic) scientists blew up the financial laboratory in 1998? LTCM was founded by not one but two Nobel prize winning Economists!

Edited by Warwick
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Think about it and how can it make sense? Economic models are always based on historical models-this happens so this happens. If I invent an engine that literally runs on water and can use your existing engine then what happens? Tax base of the UK is fecked for starters etc. etc. Economics can never quantify scientific progress so it's basically sh!te. Nor can it forecast wars either.

i think economics is fine as it goes but it has the fundamental flaw of ignoring socionomics and human behaviour with respect to herd mentality where asset prices are concerned.

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