Me: Here is a clearly misunderstanding post regarding your article by Mish Shedlock whose Austrian/libertarian perspective I have tried penetrate for almost a decade.
Maybe someone might like to clear up his misunderstandings ofwhat you said.
JR: Ellen, you must be getting somewhere! These real nut-cases usually prefer to ignore us.
This is, of course, the only approach they have to reasoned argument. Pure derision, with not one iota of constructive criticism.
And I’ll bet he’s a good, well meaning guy; dependable, good family man etc. Just pig-ignorant because of his training in a totally corrupted discipline.
Me: Yes, Shedlock is an astute student of the way the economy “works” investment wise it’s just that terminal orthodoxy prevents him from seeing a way of making it actually work stably in a macro-economic sense. When your rallying cry is the retort “There ain’t no free lunch!” and the macro-economy’s most basic problem is a scarcity of individual income in ratio to costs/prices it’s an almost unbridgeable mental gap to overcome in order to attain enlightenment. One that only wisdom, which is the mental discipline of effectively integrating opposites, is able to resolve.