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Wednesday, March 19, 2008


Today I received a comment essentially questioning my ability as an MD to make comments on the market. I responded by saying that because I am an MD this did not make me ignorant in other intellectual areas. I have been interested and studying the market for many years, if anyone is really interested read my Blogs over the past year and a half to see what I have been saying about the so-called sub-prime housing market. Read especially those Blogs on the Market, Greenspan, and Bernanke.
Now I may not be the smartest man concerning financial matters, but I am far from the dumbest. About ten years ago I was not as smart as I am now. I lost three million dollars in the market. I refer you to my book: "How I Lost Three Million in the Stock Market – A Primer on What Not to Do – A Guide to Recovery from Disaster." Now I did not lose three million of perhaps six. I lost three million out of the three that I had. I recovered from that disaster and tried to study the market. I have learned a lot since then. But I admit to not knowing it all. Who does.
I have been suggesting that the sub-prime disaster occurred as a result of three things: First, the rapid decrease in the interest rates engineered by Greenspan. This he had to do to counteract a bad economy; Second, the shenanigans perpetrated by the lenders and banks in offering sub-prime rates to people who did not know any better. In fact, I bought one of these sub-prime loans; Third, the final straw when Bernanke, not realizing what caused the problem in the first place, began to increase rates very rapidly over a period of a year before the market had a chance to respond to changes. I was recommending to decrease rates long before all the so-called experts who were recommending increasing rates which would have made the problems worse -- if it could ever get any worse.
In one of my earlier Blogs I mentioned that two Principles have guided me in my analysis of events – the application of Logic and Occam’s Razor. It seemed to me that if an event was contributing to a problem, it would appear logical to reverse the event. Eventually, Bernanke and the government did, but IT WAS TOO LATE. I have been correct in my analysis and the great experts with all their degrees from Harvard and Wharton’s did not have a clue. I have a Harvard degree in medicine but it is not my Harvard education which allows me to analyze events. It was, rather, the education I received from the Jesuits at Boston College who taught me Logic and Philosophy. If fact, in those days everyone graduating from Boston College majored in philosophy – at least they had more credits in philosophy than in their stated major. This is not the case today as Boston College has abandoned most of their great Philosophy courses.
So I may have my critics who say that I have a medical degree and question my knowledge of Economy. But as I already said, I have been correct during the past year, and this should speak for itself. I at one time vowed not to write on Politics and the Economy, but I admit to breaking my vow. I am interested in both these subjects and I will continue to write about them because it gives me great fun. And why not?
Unfortunately, there are a few individuals who respond to my Blogs with sarcastic jabs, but these do not bother me because sarcasm reflects more the perpetrator of the sarcasm, not I, for I just said: "I am having fun." My advice to those I inadvertently offend is to relax. Life is too short to get upset over politics or the economy. Read my book: "How to Benefit from Stress", by Tauraso and Batzler. (Available in our Online Bookstore.)
Of course, my writings on health and medicine are much more authoritative than are my comments on Politics and Economics.

nicola michael ©. Tauraso, M.D.)
Director, Tauraso Medical Clinic
Web site: www.drtauraso.com
Blog site: http://www.drtauraso.com/blog/index.htm
Email: drtauraso@drtauraso.com

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