Saturday, August 7, 2010

No One Knows

This blog is going to be about money.  But from a somewhat different perspective.  Its about the politics of money and economics and finance.  And the history and sociology of same.  Because, despite what some economists will tell you, economics and finance are not a science.  Very little is certain about money.  That’s where the title comes from.  The way the economy will behave is not known with any certainty.  (Heisenberg’s Uncertainty Principle)  There are a range of probabilities and the observer effect is very strong.  Stock markets swing wildly on rumors and real information both.  And anyone who tells you what the state of the economy is going to be in 5 years, let alone 5 months is talking through his hat, as they used to say when men wore hats
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Anyway, I have an academic background in economics, and worked in finance for many years.  I have a cynical, but I think realistic view of the fuzzy world of money and will be imparting my views of it here. 
Backed by sources both pro and con to my opinions.  For that is what they are- opinions.  And so is every one else’s who talks about economics.  No one really knows. 
I will leave you for now with what my first economics teacher (In Brooklyn Technical High School) once said.  The only way to make money on the stock market is to write a book about how to make money on the stock market. 

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