yes, I got that, I researched the quote, and it is often (myself included) mis stated you can do a google search on Keynes and "In the long run" and it will give you all kinds of conflicting arguments but it makes a good story in the end, you are almost forced to take sides let the market work it out or intervene I'm kind of natural and organic, and I like natures way but then again, I have kids (and now grandkids) to worry about.
hey raskol you probably already know this but here is a link to a you tube lecture by George Soros (piezoe turned me on to it) It discusses exactly the age old Hayek vs Keynes debate Soros's point is that markets exaggerate reality, and therefore create bubbles which if you and I are traders we like but not neccessarily so good for my kids www.youtube.com/watch?feature=endscreen&v=RHSEEJDKJho&NR=1
Thanks Oldtime, I'll take a look. You should check this PBS special, The Commanding Heights. Episode one is "The Battle of Ideas" and it's all about Hayek vs Keynes. It's really good IMO. http://www.youtube.com/watch?v=iUiy61vxeZs
for the educationally challenged is this infj you are talking about? http://psychology.about.com/od/trait-theories-personality/a/Infj.htm
wow Raskol, I can't thank you enough for turning me on to that documentary If you are hardcore right wing or hardcore leftwing it will really mess you up at times I was rooting for the communists, until they got in power, and then I was rooting for the capitalists It's really a great documentary on so many levels especially the historical film clips it will be easy for our kids to do a documentary about our lives, they will have so many iphone clips it will drive the poor film editor crazy Everybody that trades for a living during the week, but on the weekends actually cares how life is going should watch this documentary. It may not change your mind, but at least it will reinforce or challenge some of the ideas you held previously. What I got out of it is, both sides are right, until they get extreme. I especially liked the film clips of Bretton Woods, since as a forex trader that is a big deal
Now, I am going to look again closely for the period between January 1968 and January 1985, as well as, for the period between November 1999 and March 2013.
I compared the previous period with the current period, and I came to the conclusion that the S&P500 after reaches its resistance line (key value: 1575) can follow the path 1 or 2, in the first chart.
You're very welcome, Oldtime. I'm glad you liked it. There are two more parts as well, both 2 hrs long