Is the global economy going to go down the chute?
July 24, 2010
This guy is a person we all call Dr Doom. The problem with him is I’ve had a few fights with him and his friends – usually involving some very colorful exchange of expletives – but despite my best attempts to debunk him. Even I have to admit, he’s got more than enough firepower to come back and bloody my nose a couple of times over. Draw whatever conclusions you like from that.
Cut to the chase. Do I agree with him? No comment. I don’t think it’s fair for me to color whatever opinion you may decide to form especially on a subject that is as serious as where the global economy is heading. So why don’t you just sit back for 10 minutes and hear what he has to say about flies, gold, credit crunch etc.
Now if you’re going to make an informed decision – it really pays dividends to read up further on some of the terms that he uses to flesh our his theories - for instance when he mentions for example 20% of the flies dies in the experiment.
You really need to press the pause button – and ask yourself questions like why did he mention 20% and not 30% or 50%? In that case he’s obviously referring to the Pareto Optimum, which happens to be a very robust statistical linchpin. But what’s noteworthy is he assumes that you already know this or can read his mind.
So it’s very important for you to note from the onset that this fellow can confuse the living shit out of you if you are not mindful. So just pay close attention as you watch this clip, it may be a good idea to jot down terms which you come across such as the Prisoner’s Dilemma (that’s another school of thought in it’self, do look it up) and others so that you can build up a coherent picture.
Generally, it’s not too hard to understand. I mean if I can understand it (it took me about ten times, so I am sure you can probably manage it in two) .
Happy Hunting
Darkness 2010
