Originally Posted by rporter314
Personally I believe the beast (the economy) has evolved and the economists have not caught up yet in their understanding of it

I agree with all you said...
and would only add that the economy is constantly evolving. As such economists are inherently always playing catch up. They may have learned something from our current difficulties... but the next problem will look different... and it will also be obvious in retrospect

"It's not a lie if you believe it." -- George Costanza
The whole problem with the world is that fools and fanatics are always so certain of themselves. --Bertrand Russel