Our ECONOMY GURUS

What happened to the economics profession? And where does it go from here?


And in the real world, economists believed they had things under control: the “central problem of depression-prevention has been solved,” declared Robert Lucas of the University of Chicago.

During the golden years, financial economists came to believe that markets were inherently stable — indeed, that stocks and other assets were always priced just right.

The economics profession went astray because economists, as a group, mistook beauty, clad in impressive-looking mathematics, for truth.


Unfortunately, this romanticized and sanitized vision of the economy led most economists to ignore all the things that can go wrong. They turned a blind eye to the limitations of human rationality that often lead to bubbles and busts; to the problems of institutions that run amok; to the imperfections of markets — especially financial markets — that can cause the economy’s operating system to undergo sudden, unpredictable crashes; and to the dangers created when regulators don’t believe in regulation.

The New York Times


Mathematics is truth, but what they didn’t see (or didn’t want to see) is that mathematics work as long as you follow them.
If you mix real value with fake value, and you treat both the same, that is, if you price a good stock as much as a fake stock, or inflated stock and if you apply mathematical rules to them, is not the mathematic that is wrong, is the misuse of it.
Mathematic is numbers and those numbers have a value, but if the value is not there, it is not mathematics anymore, it is a crime.

Regulators shouldn’t believe in regulation, regulation is wrong.
What they should believe is one simple thing: CONTROL.
Check what is going on.
They classified as AAA stocks that were worth less than toilet paper.
Don´t come and tell me that they "GOT IT WRONG"
They got it as it pleased...