Most Economic Punditry Borders on Alchemy
I do find it a tad amusing how many of the Wall Street inside guys, big time investors, and analysts always provide cogent and varied reasons for why something happen in the past. Rarely do their pontifications or predictions for the future ever come true. No wonder they call it the dismal science.
Like all of us, they got swept up into the euphoria of the moment. Greed begets blindness. I do find it incredible how few of the most respected pundits and experts did not predict the seriousness and severity of our economic tailspin.
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