Thursday, January 15, 2009

Riots in Riga

There are times that I would prefer not be right

In the single most famous post on this blog (Hookers that cost too much) I predicted middle class riots in Latvia.  

It is happening as you can see here and here.


Blank Xavier said...

Economics is a science, not an art, and if you ignore its rules, you fail.

"here" and "here" point to the same BBC news page.

bizQuirk said...

What about the cheap sex you are predicting in all these economically impacted companies; when will that happen here in USA?

Anonymous said...

Also just happened in Bulgaria for the first time since '97. No major damage the first time though plenty of police brutality: several videos online.
A new round of protests will be held in the centre of Sofia today, January 15 2009.
On January 14, a total of 158 people were detained by the authorities, most of whom said they were beaten by police. said...

To say that economics is a science would suggest that given the same components of a situation you will allways get exactly the same result. Always.

That does not apply to economics or any other 'science' involving human behaviour. Science is not defined by the amount of complicated maths you can apply in it. Science is 100% predictability, not 60% nor 99%.

RPB said...

Agree with Marcy Marc here with regards to economics not being a science. It is certainly an art form that is impossible to quantify (even though my education tried) or predict.

Dear John,

There are obvious social and economic tensions in the coutntry. However, I would not be too surprised if the Russians were involved in seeding these riots.

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