Cashin, Sout, Fitzpatrick, and Roberts at KWN

Dr. Roberts
"In the Reagan administration we were able to solve the problem. We did (solve the problem). "

Here is an example of complete and total arrogance. The problem was NEVER solved. If the problem was solved, why is it back and bigger than ever? What a bunch of revisionist history Dr. Roberts trots out for his own munificence.

And the Doctor honorific? A Doctorate in Economics is all. Those of us who have gone to college know what a Phd really is and what it represents. Ben Bernanke has a Phd in economics as well. And for those who don't know, Phd means Doctor of Philosophy. Economics is NOT science because it fails to abide by the scientific method, is not replicable and doesn't have to stand against intense peer review. It is philosophy aka opinion. So in this battle of Phd's (PCR v BSB) in economics we have the following possibilities: one is right and the other wrong, both are right, or both are wrong.

Most clever of PCR Phd in Economics to refuse to define the problem that was supposedly solved. Those of us who were trying to raise a family on a 60's model in the 70's and 80's know that nothing was solved. Prices on everything skyrocketed. Then interest went to the moon. PCR and company didn't create the problem, but they never solved it either. Rises in pricing stabilized at a lower rate, but manufacturing in the US began its long and inevitable decline.

Could he be correct in his vision of the future? Sure, but I know lots of folks with no degree who have come to the same conclusion and can lay out a supportable and logical argument for their prediction. I'm betting PCR is no longer in the inner circle and gets his info from the same sources as "we the unwashed".