zzzz Posted August 25, 2010 Report Share Posted August 25, 2010 It's amazing that real estate prices are going up in BKK. In the industrialized nations, the trend is deflation, not inflation. My house in the USA, for example, lost about 1/3 of its value within the last couple of years. The prices in LOS may be lagging and start dropping soon, or it may be catching up, moving in the opposite direction to the deflating developing nations. Link to comment Share on other sites More sharing options...
shygye Posted August 25, 2010 Report Share Posted August 25, 2010 The banks won't foreclose on the big guys, because of their connections. Link to comment Share on other sites More sharing options...
Old Hippie Posted August 25, 2010 Report Share Posted August 25, 2010 This isn't directed at anyone, but is there really any "right answer" in economic terms? I mean we have a lot of guys on this board, who are pretty sharp in the ways of the world. Like wise, in the real world, there are people considered "experts" in economics. Yet it seems that when ever anything economic is discussed, there will definitely be a lot of varying opinions amongst the "experts." Explains why I'm broke I guess... Link to comment Share on other sites More sharing options...
LizardKing Posted August 26, 2010 Report Share Posted August 26, 2010 Because economics is not a hard science (where there are unbreakable rules), but a social science (where everything is open to interpretation). Not really a science at all, in my opinion. Link to comment Share on other sites More sharing options...
Flashermac Posted August 26, 2010 Report Share Posted August 26, 2010 I had to study a year of economics as an undergrad. (Thought it was boring and never took any more.) As I recall, it was almost entirely up to educated guessing. Some people guess better than others, but no one really knows what will happen -- too many variables. Link to comment Share on other sites More sharing options...
shygye Posted August 26, 2010 Report Share Posted August 26, 2010 This isn't directed at anyone, but is there really any "right answer" in economic terms? I mean we have a lot of guys on this board, who are pretty sharp in the ways of the world. Like wise, in the real world, there are people considered "experts" in economics. Yet it seems that when ever anything economic is discussed, there will definitely be a lot of varying opinions amongst the "experts." Explains why I'm broke I guess... ... because no economics expert is right 100% of the time or even 50%. A large part is predicting how people will act in the future. There is an emotional content to a person's buying decisions. Link to comment Share on other sites More sharing options...
Old Hippie Posted August 26, 2010 Report Share Posted August 26, 2010 LK and FM, that is exactly my point, it is at best an educated guess based on what is happening at that exact moment...maybe...so when I hear all the theories on economics being presented as fact, it just sort of seems well...wrong. In short, does anyone really know what is going on with the Thai economy or the US Economy,. or any economy for that matter? and does anyone really know how to "fix" it? I remember my economics class in uni...the proffessor was going on about a ,eomon aide stand "...if one guy is selling his lemon aide for 5 cents a glass and the other guy down the block is selling his for 15 cents, the guy selling for a nickel will put the 15 cent guy out of business, then he can sell for what ever he wants until someone sells for less..." So I asked her, or stated "...well what if the 15 cent guy is offering a cleaner better bigger product, safer neighborhood, better seating...?" She said "...oh no, in economics we always assume ALL things are equal..." I asked "...so when and where are things ever ALWAYS equal?" SHe said "Only in economic theory" and smiled...I got a c+ I think...just don't get it... Link to comment Share on other sites More sharing options...
Flashermac Posted August 26, 2010 Report Share Posted August 26, 2010 Reminds me of those profs who'd say before an essay exam, "I don't care what position you take, as long as you can defend it." I quickly learned that was BS. You had better agree with their position, if you wanted to get more than a C in the class. If you disagreed, you were wrong ... period! Link to comment Share on other sites More sharing options...
ThaiHome Posted August 26, 2010 Report Share Posted August 26, 2010 Being an Economist must be the coolest job in world. What other occupation are you almost guaranteed to be right and everyone else wrong at least once in your career. TH Link to comment Share on other sites More sharing options...
Crash999 Posted August 26, 2010 Report Share Posted August 26, 2010 Being an Economist must be the coolest job in world. What other occupation are you almost guaranteed to be right and everyone else wrong at least once in your career. Equity analysts are the same way. I used to work for a publicly-traded company and was often privy to info regarding what was going on and the direction we were going. Reading the analyst reports it was always amazing to me how far off-base they were. They tended to make their recommendations based on prevailing news at the time- for example economy looks bad then downgrade- rather than true knowledge of the industry. I think they do this to play safe- it's a herd mentality, so long as they all move in one direction no one can get singled out as being wrong. Link to comment Share on other sites More sharing options...
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