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  • Diana Schneidman

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

Got to love the “Investing Term of the Day” email service from 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


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