patrick.net

Tom Woods challenged Max Keiser to a debate, but the latter continues to spit out nonsense, showing complete lack of understanding of economics.

http://www.tomwoods.com/blog/max-keiser-let-me-know-when-you-answer-my-challenge/#disqus_thread

You are wasting time on Aziz ...onomics - who has the same level of understanding of economics as max keiser and nancy pelosi (NONE).

Thomas Woods, the econo-quack, ultra-Catholic Traditionalist Right, crypto-Confederate whose books are published by Regnery, a press founded by a Nazi Sympathizer?

Interesting little blowup.

AlexS says

You are wasting time on Aziz ...onomics - who has the same level of understanding of economics as max keiser and nancy pelosi (NONE).

I can presume that you have not even read what Aziz has written.

John Aziz has a firm grasp on reality (backed heavily with data), while Tom Woods and the other American Austrians can keep clutching on to their bible (Human Action) and believe in the free market (mythical notion, just like purple unicorns).

In case you don't have time to read it: We need to rely on practical data to tell us if a theory is correct.

To simply rely on deductionistic reasoning will lead one to make a call of interest rate spike and Hyperinflation in 2010, which clearly did not happen.

Interesting blow up. Reading Aziz now. Apparently Kaiser has some pieces up too.

Nothing uglier that a fanatic benefactor firing people for deviating slightly from Orthodoxy. Naturally, Woods is of a character that embraces various dogmas.

Ironically, that happened to Rothbard at CATO.

thunderlips11 says

Nothing uglier that a fanatic benefactor firing people for deviating slightly from Orthodoxy.

LOL, exactly.

Randists are fundamentalists, as I have come to learn. The benefactor is a devout Randist.

Here's more: http://tradewithdave.com/?p=11718

GameOver says

FAKE data regarding GDP growth, Inflation Rates, Unemployment, CPI and EVERY OTHER reference point. NO ONE can predict CRIMINALITY.

I don't know if you can call it fake, when you are being exactly told what is excluded/included in the data.

Is the stated inflation rate FAKE, when you are being told precisely that food and gas prices are removed due to their volatile nature?

Either way, what you consider as real data can be obtained from alternative sources like www.shadowstats.com

My point is -- don't put your neck on the line and make a timing call on hyperinflation /interest rate spike -- when you very well know that you are attempting to predict events on a non-linear dynamic system and you are going to make a fool of yourself by stating explicit timings.

On the other hand, here is another scholar of Austrian economics who actually stated that interest rates will keep going down. He clearly states that will be the trend and that leads to severe capital destruction.

http://www.professorfekete.com/articles/AEFNoBusinessLikeBondBusinessStill.pdf