Economists aren’t dismal enough in their outlook, says Keynes.
“The long run is a misleading guide to current affairs. In the long run we are all dead. Economists set themselves too easy, too useless a task if in tempestuous seasons they can only tell us that when the storm is long past, the ocean will be flat.”
--John Maynard Keynes, quoted in the February 20, 2009 “Investing Term of the Day” email from InvestorWords.com
Got to love the “Investing Term of the Day” email service from http://www.InvestorWords.com. They think the gold is in the word they define, but my favorite element—by far—is the “quote of the day.” I heartily recommend subscribing if you enjoy quotations.
I especially enjoy this message. The TV experts have been confidently predicting an economic recovery, but wisely, they are hedging on the date.
Originally updated 2-23-09