Austrian Business Cycle Wiki Edit Wars

After making this contribution to the Austrian Business Cycle page:

Financial crisis of 2007–2010

The financial crisis of 2007-2010 has resulted in a revival of interest in the Austrian business cycle theory,[31] but has also resulted in a revival of interest of theories more critical of Austrian theory, such as Keynesianism and Post-Keynesian economics.[32] In 2006, before home prices began their decline, Peter Schiff, a supporter of the Austrian school, made predictions regarding a crash in home prices. Schiff predicted a dramatic fall in home prices as the result of a bursting housing bubble which was inflated by artificially low interest rates, adjustable rate mortgages and real estate speculation. Schiff felt the bubble was being fueled primarily by the Federal Reserve and GSEs. [33] Ron Paul also indicated that housing was in a bubble back in September of 2001 for the same reasons noted by Schiff. While Paul did not put a date on when he expected a crash in home prices to occur, he did indicate that eventually a crash in home prices would result from the expansionary policies of the Fed and GSEs.[34] Ron Paul also spoke about the Austrian business cycle repeatedly throughout his 2008 presidential campaign.

Through 2008 to 2009 Schiff’s investment firm had not been able to turn a net profit from his strategies, although his firm did have a track record of profitability prior to the 2008 correction.[35][36] Schiff responded to his critics by stating his investment strategy time horizon was longer than the course of a year. The following year, Schiff’s managed portfolios were producing a net profit once again. [37]

Austrian economist Walter Block produced a list of over 25 Austrian school economists who made accurate predictions regarding artificially inflated home prices and the nature of the correction in housing prices that would ultimately precipitate from this.[38] The economists on the list followed the same logic laid out by Schiff and Paul to arrive at their predictions.

My revisions were reverted back to this version:

Financial crisis of 2007–2010

The financial crisis of 2007-2010 has resulted in a revival of interest in the Austrian business cycle theory,[31] but has also resulted in a revival of interest of theories more critical of Austrian theory, such as Keynesianism and Post-Keynesian economics.[32] After the United States housing bubble began its decline in 2006, Peter Schiff, a supporter of the Austrian school, made some predictions[33] regarding a housing crash in the US, though (as of early 2009) Schiff’s investment firm had not been able to profit from strategies based on his predictions.[34][35] Ron Paul also spoke about the Austrian business cycle repeatedly throughout his 2008 presidential campaign.

by the user named  BigK HeX, who wrote, “remove factually inaccurate OR, and youtube” as his reason for undoing my edits.

So I undid his vandalism and wrote “BigK failed to denote what was factually inaccurate and why YouTube statements by politicians on the house floor are unacceptable by Wiki policy.” as my reason for undoing his vandalism and followed that up by starting a new discussion in the discussion section where I stated:

Financial crisis of 2007–2010

This revision of the “Financial crisis of 2007-2010″ section was recently reverted by BigK HeX under the claim that the adjustments were “factually inaccurate OR, and youtube”.

I dispute BigK’s claims and would like him to demonstrate which part of the article is inaccurate and explain why speeches given by politicians on the House floor are unacceptable references. Michael.suede (talk) 17:28, 2 August 2011 (UTC)

So later on in the afternoon I receive a warning for edit warring and breaking the three revert rule by EdJohnson.

Of course, BigK never responded to my request for a discussion on the topic and simply cried to the moderators the minute he realized he had no leg to stand on.

I’m sure anyone who attempts to add any factual information to that joke of an article will meet a similar fate.

Keynesians don’t actually care about facts or substance, they care about being able to legally rob people and making sure the serfs don’t wake up to realize what kind of crap they are pushing.

The predictions made by Paul and Schiff:

For a complete detailed breakdown of the housing crisis, watch this lecture by Peter Schiff.

.

  • http://pulse.yahoo.com/_ZFDNVCXN42RXC7UQDANGUSEFPE Eccentric Intelligence

    You may find this article of interest regarding some of the politics of wikipedia: http://www.wired.com/politics/onlinerights/news/2007/08/wiki_tracker

  • GideonGono

    wow, the censorship nowadays is getting sickening.

  • http://www.facebook.com/people/Matt-Ancap/100002210402123 Matt Ancap

    but, but just think about how bad the economy would be right now without all the keynsian stimulus. Oh crap, it’s still bad. Well, uhh, just think about how bad it would have been , yeah and uhh, all the jobs saved or created. Never mind all the old bubbles the fed created that popped. The new one will last forever. They have plenty of mathematical models that perfectly predict everything individuals will do in the market. Just is case , I might buy a little gold…..

  • MJ

    I’ve remember reading through some of the comment discussions on some of the “conspiracy” type wikipages (i.e. 9/11, gulf of tonkin, ect.) and it’s unbelievable how many facts are clearly left out or how certain facts are required to be worded in a certain way so as to taint it’s validity in the mind of the readers.  Amazing, really.

  • http://twitter.com/AminCad AminCad

    That’s blatant suppression of the truth. It’s absolutely verifiable that Paul predicted the collapse in 2002.