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My engineering background is no doubt responsible for the discomfort that
is experienced when listening to others talk about root cause (i.e., in the
peer reviewed world of hard sciences, you can’t just say you’ve found the
root cause) and the latest example of this comes from the White House via
this Friday
Funny at reason.com.
Other examples in the world of economics and finance involve “the lack of
aggregate demand” being the proximate cause of our recent malaise and you can
take your pick of many root causes (which are highly dependent upon your
world view and who signs your paycheck) for the worst financial crisis since
the Great Depression that, almost uniformly, reject the view that, as so
eloquently noted by Pavlina Tcherneva in this item
at New Economic Perspectives, “We live in a casino economy driven by
serial asset bubbles”.
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Tim Iacono is the founder of Iacono Research, a subscription service providing market commentary and investment advisory services specializing in commodity based investing.
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