Comments on: Economic Type 2 Diabetes http://tungsten.panda6.net/2008/economic-type-2-diabetes/ Random thoughts from the mind of Peter Fedewa. Mon, 06 Feb 2012 14:39:31 +0000 http://wordpress.org/?v=2.6.2 By: andrew http://tungsten.panda6.net/2008/economic-type-2-diabetes/#comment-73 andrew Thu, 02 Oct 2008 22:45:58 +0000 http://tungsten.panda6.net/?p=52#comment-73 I hear a lot of suggestions from every side of the fence. I will admit that part of me thinks that the only right answer is to NOT bail out anybody. Of course, this would have seemingly catastrophic consequences. I heard other arguments that the subprime crisis sprang from legislation designed to ensure low-income people could get mortgages. At the same time, it is hard not to hear people who insist that the bail out is the only thing that will prevent the country (if not beyond) from collapsing in a big imploding money-bin style heap. It's hard to know. Economics (from my experience) is the most unscientific "science" in the business. Really, you can never predict or assess what a certain action may or may not do; to do so is really just self-deception. I hear a lot of suggestions from every side of the fence. I will admit that part of me thinks that the only right answer is to NOT bail out anybody. Of course, this would have seemingly catastrophic consequences. I heard other arguments that the subprime crisis sprang from legislation designed to ensure low-income people could get mortgages. At the same time, it is hard not to hear people who insist that the bail out is the only thing that will prevent the country (if not beyond) from collapsing in a big imploding money-bin style heap.

It’s hard to know. Economics (from my experience) is the most unscientific “science” in the business. Really, you can never predict or assess what a certain action may or may not do; to do so is really just self-deception.

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