Micro and Macro economics are no longer taught in school
Honestly, I have come to the conclusion that economics can be summed in a simple paragraph. All the markets are derivatives of the debt market. The actual market forces have very little impact when you have Fed with, say 8 trillion balance sheet messing with the market. The reality is, central banks print the money, the legislators create an excuse and write bills to channel this money, the wall street launders this money and the military helps out by attacking any country that threaten to expose this scam. The markets are centrally managed, and the job of economists is to provide a plausible explanation using complex sounding words. The biggest job of the financial system is to hide the inflation that is the result of this indiscriminate printing of money.
Thats it. Everything else they teach in school of economics is baloney.
Honestly, I have come to the conclusion that economics can be summed in a simple paragraph. All the markets are derivatives of the debt market. The actual market forces have very little impact when you have Fed with, say 8 trillion balance sheet messing with the market. The reality is, central banks print the money, the legislators create an excuse and write bills to channel this money, the wall street launders this money and the military helps out by attacking any country that threaten to expose this scam. The markets are centrally managed, and the job of economists is to provide a plausible explanation using complex sounding words. The biggest job of the financial system is to hide the inflation that is the result of this indiscriminate printing of money.
Thats it. Everything else they teach in school of economics is baloney.