What Economists Still Don’t Get About the 2008 Crisis
My own theory after digging sometime into Economics is that no one seems to have a clear idea what on earth we are actually doing. We all seems to have our own theory, and they all seems to answer half of the question. And in practice none of them currently models the world we have now. And it will take a long time before any of those theory are proved to be correct this time around. May be we can finally say Keynesian is wrong. ( At the expenses of our generation )<p>And it makes things more complicated when people start messing around with how they measure things, and messing with formulas. Numbers like China which are inaccurate. Inflation number which are messed with by FEDs. IMF prediction model which has been wrong every time for years and it seems its only job is to please or more accurately manipulate the market mindset.