Investors have very short memories. ~Roman Abramovich Today’s U.S. Nonfarm Payroll Report was a huge disappointment by any measure. Paraphrasing some reaction to it (mostly from economists who got it wrong): catastrophic severely disappointing no redeeming qualities whatsoever Stop looking for the silver lining. There is none. Now most of you know that I have…
Year’s end is neither an end nor a beginning but a going on, with all the wisdom that experience can instill in us. ~ Hal Borland Yesterday we looked at some notes that I had made at the beginning of 2009. Today, we look at possible problem areas for 2010. Again, these are obviously not…
An economist is an expert who will know tomorrow why the things he predicted yesterday didn’t happen today. ~ Laurence J. Peter (1919 – 1988) Economics is often called “the dismal science” for its general lack of prediction accuracy. There are lots of other reasons financial experts and non-experts alike detest it. For most laypeople…
