Comments on: The Limits of Economic Garbage http://dailyreckoning.com/the-limits-of-economic-garbage/ Economic News, Markets Commentary, Gold, Oil and Investing Strategies. Sun, 27 May 2012 09:55:17 +0000 hourly 1 http://wordpress.org/?v=3.3.2 By: Sparkie http://dailyreckoning.com/the-limits-of-economic-garbage/#comment-6982 Sparkie Fri, 01 May 2009 17:24:26 +0000 http://dailyreckoning.com/?p=15309#comment-6982 Like u say MG. Gold and, good gold stocks, oil, copper,and well u know the rest.The only 3 things i trust in a bar,after having alot of those precious things r. Johnny,Jack,and Jim. Have 1 on me! Were're all doomed,well not all of us,thanx 2 u. Keep up the good work MG! Well gotta go,i'm up 8.1k on the "long side" in the S&P's gonna pull the trigger soon. Boy this investing stuff is easy! Like u say MG. Gold and, good gold stocks, oil, copper,and well u know the rest.The only 3 things i trust in a bar,after having alot of those precious things r. Johnny,Jack,and Jim. Have 1 on me! Were’re all doomed,well not all of us,thanx 2 u. Keep up the good work MG! Well gotta go,i’m up 8.1k on the “long side” in the S&P’s gonna pull the trigger soon. Boy this investing stuff is easy!

]]> By: Mike E http://dailyreckoning.com/the-limits-of-economic-garbage/#comment-6973 Mike E Fri, 01 May 2009 15:07:34 +0000 http://dailyreckoning.com/?p=15309#comment-6973 HaHaHa.... Not that I disagree with anything Mogambo yells but I just looked up Smith Consultant Group in St. Pete and found that it has only two employees. To be a General Partner and COO of such an organization must explain his sense of humor.. HaHaHa…. Not that I disagree with anything Mogambo yells but I just looked up Smith Consultant Group in St. Pete and found that it has only two employees.

To be a General Partner and COO of such an organization must explain his sense of humor..

]]> By: John Sloan http://dailyreckoning.com/the-limits-of-economic-garbage/#comment-6963 John Sloan Fri, 01 May 2009 13:09:00 +0000 http://dailyreckoning.com/?p=15309#comment-6963 Agree with Junior ranger 777 - Please not also that same view of computer modeling applies also to the scam about 'global warming' Besides von Mises and all "Austrian school' authors please read David Fischer's "The Great Wave" in which he predicted the then-coming 4th great deflation era in western history. Agree with Junior ranger 777 – Please not also that same view of computer modeling applies also to the scam about ‘global warming’
Besides von Mises and all “Austrian school’ authors please read David Fischer’s “The Great Wave” in which he predicted the then-coming 4th great deflation era in western history.

]]> By: Junior Mogambo Ranger # 777 http://dailyreckoning.com/the-limits-of-economic-garbage/#comment-6919 Junior Mogambo Ranger # 777 Fri, 01 May 2009 00:10:48 +0000 http://dailyreckoning.com/?p=15309#comment-6919 Great post as always Mogambo Guru. I don't know where to start first in pointing out the Mogambo wisdom in this post... "For the mainstream, the problems can always be solved by borrow, print, lend and spend." If that is the case, Zimbabwe should have no economic problems by now. (Isn't it terrible how reality keeps raining on economic theory's parade?) "I am a know-nothing loudmouth weirdo" That statement was made by or about John Maynard Keynes. “As we trained a generation to believe they could model, and they did it. They modeled garbage, and now we’ve wiped out a generation of retirement income.” Modeled garbage, as they say, when it comes to computers Garbage In Garbage Out (GIGO) and that goes double for even the best computer models created to figure out how the future will unfold. Unfortunately, the future always behaves differently than even the best computer programs can calculate (just check out the long term computer models of what next week's weather should be if you don't believe me.) If the best systems can't figure out precisely what the weather will be next week, how can you trust computer models to predict what the world of finance will be one year from now? (And there are just as may variables in the realm of weather as there are in the realm of finances.) Three cheers for The Mogambo Guru! Great post as always Mogambo Guru.

I don’t know where to start first in pointing out the Mogambo wisdom in this post…

“For the mainstream, the problems can always be solved by borrow, print, lend and spend.”

If that is the case, Zimbabwe should have no economic problems by now.
(Isn’t it terrible how reality keeps raining on economic theory’s parade?)

“I am a know-nothing loudmouth weirdo”
That statement was made by or about John Maynard Keynes.

“As we trained a generation to believe they could model, and they did it. They modeled garbage, and now we’ve wiped out a generation of retirement income.”

Modeled garbage, as they say, when it comes to computers Garbage In Garbage Out (GIGO) and that goes double for even the best computer models created to figure out how the future will unfold. Unfortunately, the future always behaves differently than even the best computer programs can calculate (just check out the long term computer models of what next week’s weather should be if you don’t believe me.)

If the best systems can’t figure out precisely what the weather will be next week, how can you trust computer models to predict what the world of finance will be one year from now? (And there are just as may variables in the realm of weather as there are in the realm of finances.)

Three cheers for The Mogambo Guru!

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