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	<title>HansPeterson.com &#187; economics</title>
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		<title>How it happened&#8230;the crisis, that is.</title>
		<link>http://hanspeterson.com/232/how-the-crisis-happened/</link>
		<comments>http://hanspeterson.com/232/how-the-crisis-happened/#comments</comments>
		<pubDate>Wed, 01 Jul 2009 15:16:31 +0000</pubDate>
		<dc:creator>Hans</dc:creator>
				<category><![CDATA[My Favorites]]></category>
		<category><![CDATA[economics]]></category>

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		<description><![CDATA[This post is best described by the two laws of economics relating to amature economists...a category to which I may one day belong once I graduate from being a simple enthusiast.]]></description>
			<content:encoded><![CDATA[<p>This post is best described by the two laws of economics relating to amature economists&#8230;a category to which I may one day belong once I graduate from being a simple enthusiast.</p>
<p><span style="font-family: Verdana;"><span><strong>Bentley&#8217;s second Law of Economics:</strong> The only thing more dangerous than an economist is an amateur economist!</span></span></p>
<p><span style="font-family: Verdana;"><span><strong>Berta&#8217;s Fundamental Law of Economic Rents: </strong>The only thing more dangerous than an amateur economist is a professional economist.</span></span></p>
<p><span style="font-family: Verdana;"><span>Though I&#8217;m sure its not the economists we have to blame for the economic crisis, is it?</span></span></p>
<p><object classid="clsid:d27cdb6e-ae6d-11cf-96b8-444553540000" width="400" height="225" codebase="http://download.macromedia.com/pub/shockwave/cabs/flash/swflash.cab#version=6,0,40,0"><param name="allowfullscreen" value="true" /><param name="allowscriptaccess" value="always" /><param name="src" value="http://vimeo.com/moogaloop.swf?clip_id=3261363&amp;server=vimeo.com&amp;show_title=1&amp;show_byline=1&amp;show_portrait=0&amp;color=&amp;fullscreen=1" /><embed type="application/x-shockwave-flash" width="400" height="225" src="http://vimeo.com/moogaloop.swf?clip_id=3261363&amp;server=vimeo.com&amp;show_title=1&amp;show_byline=1&amp;show_portrait=0&amp;color=&amp;fullscreen=1" allowscriptaccess="always" allowfullscreen="true"></embed></object><br />
<a href="http://vimeo.com/3261363">The Crisis of Credit Visualized</a> from <a href="http://vimeo.com/jonathanjarvis">Jonathan Jarvis</a> on <a href="http://vimeo.com">Vimeo</a>.</p>
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