Economics in general is a complete and utter pseudo-science… It’s guess work with a wishing aspect.
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OK, but…
[quote=Arraya]
Oil price spiked with no increased production and then demand fell and price subsided. There is no reason elevated prices should maintain elevated if demand falls, obviously.
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Hold on a sec… this sounds suspiciously like you’re applying the Theory of Supply and Demand… which is “economics”…
[quote=Arraya]
Market theory and economics is not rooted in any science. It’s just a man made theory that has little relevance on the natural state of the world. It’s a belief system with math. A belief system with endless contradictions and tragic assumptions, at that.
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Ah, but then another criticism of economics.
It appears that you like to use economics to support your positions when it’s convenient, but then you demonize it when it doesn’t support your position. Much like everyone who doesn’t ascribe to your views is guilty of “magical thinking,” but YOUR views are pure truth and wisdom.
You can’t have it both ways… with economics or magical thinking.
