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It is illusory the way they talk about value, it is illusory the way they talk about markets.. markets has lost any meaning when there is a bunch of things now at the core which are out of the market, or there is no market.

M1, M2 and M3 almost mean nothing nowadays. te descritpion of the monetary base is illusory. Does it reall matter when the arkets freeze becasue there is no amrket for sm assets? no correspondence or capital movimetns around the world and black holes or deposits hidden from tax heavens.

The whole structure is illusory also regarding exprimental measures, there are no experiemtal language, no xperimental structure, no double checks.

Also very itneresting is the money graph movement, the knowledge and description of money acroos different industries and consumers ort he work on geo-differences is almost nill becasue the lack of ability to redict. But this is more a lack of interest or methods tahn illusory.

And trade, wow, trade.. I think we have been discussing about that.. it was not illusory but probably bad faith regarding how Friedmanists plunder a bunch of industries in favor of the rich guys. But, it does seem hat some nerd really buy into that given the whole illusory structure.

And then, there are a bunch of others thing that once in a while I think "wow there again non-reality based, event he basics makes no sense" but toehrs seem to make some specific non-illusory claims.

Some examples.

Do they really know wha theya re talking about when they talk about dollar problems and stampede, do they know about the way the dollar print and the whole global system work once the gold standard was eliminated? Do they know what they talk about when economists explain the inflation without aywhere mentioning mesoinflation or micro inflation or across the board inflation (except stirling)?

And on a related note, the realtion betewwen production , goods, money to buy, debt, loan and bubbles seem disconnected without a coherent frame. Sometimes lack of coherence frame also indicates lack of real knoweldge regardintg the descrption, and most of the time there is a illusory component.

I can go and on . but I think you get an idea.

A pleasure.

I therefore claim to show, not how men think in myths, but how myths operate in men's minds without their being aware of the fact. Levi-Strauss, Claude

by kcurie on Tue Sep 23rd, 2008 at 01:42:22 PM EST
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