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Is doom’s day scenario really coming to shred to pieces our money in 2013?

March 8, 2013

It depends. Classical economists, a Smithsonian breed that doesn’t want to give up its crown is at it again. For sure, they say a disaster is coming. Listen, the US devaluing its currency by whatever means; through low-interest loans, free bail out money, borrowing from China like there is no tomorrow, etc can be even good for the economy! Doom’s day scenario will come to steal the value of your cash only if you stop being productive!! The EU has to worry about it more than the Americans.  Yes, all these Obama’s acts are bad for the economy but currency devaluation in whatever means it is done, by any governments, is not an automatic ticket to inflation like the classicists believe. That old logical thinking has been replaced by behavioral economics’ empirical evidence that the answer is in good job training, programing, system building, etc., not financial manipulations.  A million Community Colleges testing, training, retraining, certifying and placing 20 millions idle people to do high-tech, infrastructure and start good businesses, etc can sent the troubles away. Classical economists don’t get it,  economic problems occur when you don’t have a great CEO (referee on the playing field). Get Obama to teach you how to love someone and get the right training so you will love your work. That’s it! Hey, dude, and don’t forget to hug a behavioral economist on the way to your great career.

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