This is a sad example of higher education, especially somewhere as "prestigious" as Harvard. These people are the de-facto "future" of industry and yet lack basic understanding of economics. It doesn't surprise me though.
I loved the silver bit but hearing one of my peers say "I'm a realest, America will pay back the debt to China so I don't worry" made me cringe. A realest? Well then let's talk real - pay it back with WHAT? Paper money worth $0.06 per slice? It's sad they believe money obtains value from some mythical creature, even worse a government. I feel bad for the future as I am apart of it.
Heh, my wife and I sent out 1 ounce silver coins as presents this week. We aren't counting on much more appreciation for silver's value from the recipients than what these professional students exhibited, though. Maybe if I had sent Richard Maybury's book "Whatever Happened to Penny Candy"... nah, they'd have to read it. As a plus, my 15-year old listened to Bob Murphy's 12/13 program and we're having some interesting side conversations as a result. http://www.radiofreemarket.com/archives/dr-robert-murphy-money-and-freedom-how-they-are-connected-121110-rfm
"Get a lot of Harvard people out of the economy control." He has no idea how right he is, too bad his knowledge did not extend to silver values.
ReplyDeleteThis is a sad example of higher education, especially somewhere as "prestigious" as Harvard. These people are the de-facto "future" of industry and yet lack basic understanding of economics. It doesn't surprise me though.
ReplyDeleteI loved the silver bit but hearing one of my peers say "I'm a realest, America will pay back the debt to China so I don't worry" made me cringe. A realest? Well then let's talk real - pay it back with WHAT? Paper money worth $0.06 per slice? It's sad they believe money obtains value from some mythical creature, even worse a government. I feel bad for the future as I am apart of it.
Heh, my wife and I sent out 1 ounce silver coins as presents this week. We aren't counting on much more appreciation for silver's value from the recipients than what these professional students exhibited, though.
ReplyDeleteMaybe if I had sent Richard Maybury's book "Whatever Happened to Penny Candy"... nah, they'd have to read it.
As a plus, my 15-year old listened to Bob Murphy's 12/13 program and we're having some interesting side conversations as a result.
http://www.radiofreemarket.com/archives/dr-robert-murphy-money-and-freedom-how-they-are-connected-121110-rfm