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Sunday, November 7, 2010

American Citizens have no clue about Economics

In the economic world, as in most professions, there are different followings of different teachings or principles around the topic of economics.

Believe it or not, there is no agreed method of how to handle the creation of money, debt, gold relating to money, or any other concept to nail down money creation and sovereign debt management. Some say national debt is OK, others say its bad, etc.

In any event, Keynesian economists rule the world roosts. My bet is in the next decade, they will be dethroned as theoretical rather than practical scientists. I prefer Austrian school of economics myself.

Being that the US and the world is experiencing currency tensions, trading tensions, and soaring national debt, one has to find it.....sad...that many support politicians without knowing the entire financial outlook of the US rests on Keynesian economists directing much of the world policy.

Granted, the people running this comic interview are deliberately playing off the knee jerk reaction that they are saying Obama is Kenyan. Obama's birth certificate is of controversy, and some believe he isn't American.

Watch this video, not sure if its funny or just sad.

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