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Subject:  Re: Bill Gross.....PHK Date:  3/8/2009  10:34 PM
Author:  junkman02 Number:  26257 of 36526

"Which Austrian School economist are you referring to?"

This is going to sound awful, but to me, those who write from an “Austrian School” viewpoint are pretty inter-changeable. (They've all drunk the kool-aid.) Where I run into their writings is at Lew Rockwell's site, which means more disclaimers. (I don't share their anti-global warming hysteria, etc.)

Where I do find their writings informative is on the topics that would interest a bond investor: interest rates, inflation, the misbegotten role of central bankers, the economic pointless of wars, the real causes of the Great Depression, the current mishandling of this one, etc.

Wikipedia suggests ” The Austrian School now lies somewhat outside the mainstream,[1] and currently contributes relatively little to mainstream economic thought.[3][4] “

But I see that “apartness” as their usefulness. If I want mainstream economics, I can open any econ text, turn on the evening news, pick up any financial magazine, etc. “Mainstream econ” is ubiquitous and over-represented. E.g., of the 100 senators and 435 congressmen currently making policy, how many have a clear sense of how money and markets work? Just one, right?

Help! Save me! Save us all!

So that's why I recommended to Hockeypop that he drop Gross and pick up someone else. Not only will he get a viewpoint he won't get elsewhere, but on the issues that matter to a bond investor, the vonMises crowd seem to have it right. (IMHO, 'natch)
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