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XBoxBoy
ParticipantI’m begining to think we need a poll, How many of you piggys are really just old stoners….
ParticipantI’m begining to think we need a poll, How many of you piggys are really just old stoners….
Participant[quote=temeculaguy]I never understood the massive price increases of the bubble and I’m beginning to get confused about the massive decreases during the meltdown.[/quote]
Your own words are the clue to your quandry. I’ve read enough of your posts to know that you TG, are an analytic type of guy. You like to look at the numbers, the data and make rational decisions. (You like to drink good wine and make wise guy remarks late at night which make us all laugh too!) All good and well, but you and most economists today suffer from the belief that most people are like you. They are not. They listen to what they hear at the hair salon, or what they hear while watching Johnny play soccer, and they trust that. Data just confuses them.
The point being that the vast majority of people are not “rational consumers” and any analysis or economics based on that is deeply flawed. This expectation that people would be rational is what is hindering your understanding of the bubble going up, and why you’re going to misjudge the overshoot that is coming.
XBoxBoy
Participant[quote=temeculaguy]I never understood the massive price increases of the bubble and I’m beginning to get confused about the massive decreases during the meltdown.[/quote]
Your own words are the clue to your quandry. I’ve read enough of your posts to know that you TG, are an analytic type of guy. You like to look at the numbers, the data and make rational decisions. (You like to drink good wine and make wise guy remarks late at night which make us all laugh too!) All good and well, but you and most economists today suffer from the belief that most people are like you. They are not. They listen to what they hear at the hair salon, or what they hear while watching Johnny play soccer, and they trust that. Data just confuses them.
The point being that the vast majority of people are not “rational consumers” and any analysis or economics based on that is deeply flawed. This expectation that people would be rational is what is hindering your understanding of the bubble going up, and why you’re going to misjudge the overshoot that is coming.
XBoxBoy
Participant[quote=temeculaguy]I never understood the massive price increases of the bubble and I’m beginning to get confused about the massive decreases during the meltdown.[/quote]
Your own words are the clue to your quandry. I’ve read enough of your posts to know that you TG, are an analytic type of guy. You like to look at the numbers, the data and make rational decisions. (You like to drink good wine and make wise guy remarks late at night which make us all laugh too!) All good and well, but you and most economists today suffer from the belief that most people are like you. They are not. They listen to what they hear at the hair salon, or what they hear while watching Johnny play soccer, and they trust that. Data just confuses them.
The point being that the vast majority of people are not “rational consumers” and any analysis or economics based on that is deeply flawed. This expectation that people would be rational is what is hindering your understanding of the bubble going up, and why you’re going to misjudge the overshoot that is coming.
XBoxBoy
Participant[quote=temeculaguy]I never understood the massive price increases of the bubble and I’m beginning to get confused about the massive decreases during the meltdown.[/quote]
Your own words are the clue to your quandry. I’ve read enough of your posts to know that you TG, are an analytic type of guy. You like to look at the numbers, the data and make rational decisions. (You like to drink good wine and make wise guy remarks late at night which make us all laugh too!) All good and well, but you and most economists today suffer from the belief that most people are like you. They are not. They listen to what they hear at the hair salon, or what they hear while watching Johnny play soccer, and they trust that. Data just confuses them.
The point being that the vast majority of people are not “rational consumers” and any analysis or economics based on that is deeply flawed. This expectation that people would be rational is what is hindering your understanding of the bubble going up, and why you’re going to misjudge the overshoot that is coming.
XBoxBoy
Participant[quote=temeculaguy]I never understood the massive price increases of the bubble and I’m beginning to get confused about the massive decreases during the meltdown.[/quote]
Your own words are the clue to your quandry. I’ve read enough of your posts to know that you TG, are an analytic type of guy. You like to look at the numbers, the data and make rational decisions. (You like to drink good wine and make wise guy remarks late at night which make us all laugh too!) All good and well, but you and most economists today suffer from the belief that most people are like you. They are not. They listen to what they hear at the hair salon, or what they hear while watching Johnny play soccer, and they trust that. Data just confuses them.
The point being that the vast majority of people are not “rational consumers” and any analysis or economics based on that is deeply flawed. This expectation that people would be rational is what is hindering your understanding of the bubble going up, and why you’re going to misjudge the overshoot that is coming.
XBoxBoy
ParticipantEnorah, Gotta say, I love your posts because they really do brighten up an otherwise all too dismal site. I mean think about it. We are really a community of housing bears sitting around waiting for prices to drop. At times it’s worse than watching paint dry!
And this post is great, because my wife is totally into this sorta thing, and so now we’ll have something fun to talk about at dinner. It’s really funny how we can positively effect others without specifically trying to.
And… your posts makes me laugh because it reminds me (the doubting thomas sorta guy that I am) of one of the best quotes I know, “The only function of economic forecasting is to make astrology look respectable”
XBoxBoy
ParticipantEnorah, Gotta say, I love your posts because they really do brighten up an otherwise all too dismal site. I mean think about it. We are really a community of housing bears sitting around waiting for prices to drop. At times it’s worse than watching paint dry!
And this post is great, because my wife is totally into this sorta thing, and so now we’ll have something fun to talk about at dinner. It’s really funny how we can positively effect others without specifically trying to.
And… your posts makes me laugh because it reminds me (the doubting thomas sorta guy that I am) of one of the best quotes I know, “The only function of economic forecasting is to make astrology look respectable”
XBoxBoy
ParticipantEnorah, Gotta say, I love your posts because they really do brighten up an otherwise all too dismal site. I mean think about it. We are really a community of housing bears sitting around waiting for prices to drop. At times it’s worse than watching paint dry!
And this post is great, because my wife is totally into this sorta thing, and so now we’ll have something fun to talk about at dinner. It’s really funny how we can positively effect others without specifically trying to.
And… your posts makes me laugh because it reminds me (the doubting thomas sorta guy that I am) of one of the best quotes I know, “The only function of economic forecasting is to make astrology look respectable”
XBoxBoy
ParticipantEnorah, Gotta say, I love your posts because they really do brighten up an otherwise all too dismal site. I mean think about it. We are really a community of housing bears sitting around waiting for prices to drop. At times it’s worse than watching paint dry!
And this post is great, because my wife is totally into this sorta thing, and so now we’ll have something fun to talk about at dinner. It’s really funny how we can positively effect others without specifically trying to.
And… your posts makes me laugh because it reminds me (the doubting thomas sorta guy that I am) of one of the best quotes I know, “The only function of economic forecasting is to make astrology look respectable”
XBoxBoy
ParticipantEnorah, Gotta say, I love your posts because they really do brighten up an otherwise all too dismal site. I mean think about it. We are really a community of housing bears sitting around waiting for prices to drop. At times it’s worse than watching paint dry!
And this post is great, because my wife is totally into this sorta thing, and so now we’ll have something fun to talk about at dinner. It’s really funny how we can positively effect others without specifically trying to.
And… your posts makes me laugh because it reminds me (the doubting thomas sorta guy that I am) of one of the best quotes I know, “The only function of economic forecasting is to make astrology look respectable”
XBoxBoy
Participant[quote=jetonejet]I have a hard time understanding peoples logic
[/quote]This is one of the main lessons that economics needs to take away from the current housing/financial crisis. People are not logical! We like to think we are but we just aren’t. Most of our opinions are based on what we hear from others we trust, not on data or real facts. We trust general consensus far more than we trust ourselves to look at data and make up our own minds.
There are incredible social implications to this lack of logic, from marketing to politics, but that’s really a topic for another thread.
XBoxBoy
Participant[quote=jetonejet]I have a hard time understanding peoples logic
[/quote]This is one of the main lessons that economics needs to take away from the current housing/financial crisis. People are not logical! We like to think we are but we just aren’t. Most of our opinions are based on what we hear from others we trust, not on data or real facts. We trust general consensus far more than we trust ourselves to look at data and make up our own minds.
There are incredible social implications to this lack of logic, from marketing to politics, but that’s really a topic for another thread.
XBoxBoy
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