Professor at University of North Texas: Talk about Fed is "conspiracy theory"

[jsu718]

lol, UNT.

Seriously though, it is impossible to get a real education in economics in high schools and colleges in the US right now. It's about as hard as trying to do any research in Biology that doesn't explicitly try to add proof to evolution. Even if your data is falsified openly it would be easier to get funding than otherwise.

Luckily we have places like mises.org that have as much real economics education that you could possibly want.

Also, in the rebuttal, "conspiracy" was misspelled.

 

[tmosley]

It's about as hard as trying to do any research in Biology that doesn't explicitly try to add proof to evolution.

Wow, people brought up both apocalyptic books of the bible and a non belief in the thoroughly proven theory of evolution (which is only a theory the way gravity is a theory) while they claim they aren't nuts.

You're not helping, guys. You might as well be talking about UFO's and government plots to steal water out of your sink drains.

 

[rpfan2008]

Why do some economist react like that? You would think they would like to discover why their formulas are failing. But no, they completely close down and dont try anything else.

I think LibertyEagle's or MsDoodahs'(?) forum sig has the answer.

 

[jsu718]

Wow, people brought up both apocalyptic books of the bible and a non belief in the thoroughly proven theory of evolution (which is only a theory the way gravity is a theory) while they claim they aren't nuts.

You're not helping, guys. You might as well be talking about UFO's and government plots to steal water out of your sink drains.

I am referring to the way the education system works in the US, not the validity or invalidity of evolution.

 

[StilesBC]

When arguing these jokers we must make certain not to in any way perceive to attack what can be defended in one line answers.

Instead of attacking somebody because they support the Fed, question their insistence on the necessity for providing an "elastic supply of money". Ask them how it is possible to determine "demand" for money, when it is very obviously infinite. By doing so, you are at least able to convince them that targeting either the supply of money or the price level is futile in trying to maintain "equilibrium."

Make them explain the Keynesian or Monetarist counter-arguments to these problems. In most cases they can't. In which case you can tell them why.

We cannot overwhelm the status-quo with numbers and cheapshots via e-mail. But we can do it with superior education.

My reading list for the summer:

Economics in One Lesson - Hazlitt
Econ Calc in Socialist Commonwealth - Mises
History of Money and Banking in US - Rothbard
Prices and Production - Hayek
Principles of Economics - Menger
Human Action - Mises (w/ study guide)
Man, Economy and State - Rothbard (w/study guide)
Money, Bank Credit and Economic Cycles - Huerta de Soto
a bunch of other smaller ones with more political themes...

Watching Peter Schiff videos on Youtube is all good and well. But your time can be better spent learning about the theories behind the talking points, rather than just the talking points themselves.

mises.org will help you do that. E-mail any of the professors there. They'll be more than happy to assist you. Or send me a PM. I can help you get started.

 

[Crash Martinez]

Wow, people brought up both apocalyptic books of the bible and a non belief in the thoroughly proven theory of evolution (which is only a theory the way gravity is a theory) while they claim they aren't nuts.

Technically, "gravity" is a description of what is observed, not a theory of how it occurs. Evolution, on the other hand, has never been observed, and goes beyond merely describing what is observed into conjecture as to how it occurs.

Thank you.

 

[LibertyIn08]

Technically, "gravity" is a description of what is observed, not a theory of how it occurs. Evolution, on the other hand, has never been observed, and goes beyond merely describing what is observed into conjecture as to how it occurs.

Thank you.

That's a fallacy.

 

[jsu718]

That's a fallacy.

Plz stay on topic. This is about UNT being a terrible school.

 

[tron paul]

Anybody that wants to use this, feel free:

Dear Prof.

Please look beyond Brent's histrionics and purple prose to the real issue. He is young, and very concerned that what is (and isn't) taught about the Fed in higher education will effect his future.

Jim Grant, of Grant's Interest Rate Observer, is not a conspiracy theorist and always sticks with the academic approach.

In a recent CNBC interview, he said that the Fed is as insolvent as Citi and wouldn't pass its own stress tests.

You owe students an open mind, and owe Brent an apology for the implicit put-down in calling his frame of reference a "conspiracy theory."

Pejoratives and perfunctory "thank you for your [worthless, delusional] inputs" don't help anything. They have no place in the academic approach. Respect does.

Best,

Publius

 

[TGGRV]

In order for you people to actually be taken seriously about these things, read works from all schools of thought in economics. I mean, yes, reading the bullshit that Keynes wrote is painful at times, especially when you know about JP Say and how Keynes failed to prove Say wrong. lol. But still, in order for you to be able to see the broader picture and be able to think critically, you need to read from all the schools of thought.

I think its bad form for a professor to provide Keynsian drivel to a student and call it an "academic education".

I debated my teacher about this and he had to admit I'm right. Of course, my microeconomics grade is 60% and my macroeconomics one is 70% due to this shit, even though I pretty much have the most in depth thinking in that stupid class. I'm retaking my finals and I'll ace them.

Conclusion:Owning teachers in front of 100 students = BAD.

Why do some economist react like that? You would think they would like to discover why their formulas are failing. But no, they completely close down and dont try anything else.

Because they attached emotions to logic when they enlisted on a certain party program, whose name I won't mention.

Related to the Fed, it's not privately owned! It's a private institution in the sense that they're independent from the government(and don't receive government funding) and that the banks in the US have stock in it. I wrote that in italics because having stocks in the Federal Reserves is a lot different - can't be traded and what not. Also, when the Fed makes a profit, they turn it in to the Treasury. All these stupid videos like the ones with theories about perpetual debt are fraud. They intentionally or due to ignorance don't properly explain the fractionary reserve system, which isn't that bad, as long as interest rates are determined by the market, but I doubt that would happen with the current way the system is implemented and things are getting worse.

 

[torchbearer]

Conclusion:Owning teachers in front of 100 students = BAD.

And I did it every day.
Every once in awhile, you will get a teacher that appreciates the challenge, but most are insulted.

 

[TGGRV]

And I did it every day.
Every once in awhile, you will get a teacher that appreciates the challenge, but most are insulted.

Now I have to retake his classes because I won't get to a great business school for a MBA with 60 and 70% at economics. lol. And if he won't give me the grades I deserve, I'll go to the Dean and if he doesn't do shit, I'll sue the school. People already won due to the school not respecting grading procedures. As I told my classmates... What can you expect from an Al Gore fan?

At macroeconomics, he made up this theory and at times I was really to burst out in laughter and say "What a load of steamy shit!". His frigging premises were contradicting each other at some point and he talked about that shit for like 40 minutes. Who cares about Milton Friedman's Nobel prize winning theory? Screw that! lol

 

[DapperDan]

GJ Brent.

Reminds me of the drivel my international finance teacher at UTD had to say about the IMF and the Fed Reserve....mostly praise from her end.