4 ms·
Economists have correctly predicted 8 of the last 4 rrcessions.
by kthejoker2 6y ago
Economists have correctly predicted 8 of the last 4 rrcessions.
- throw0101a 6y agoYou may wish to actually look up that quotation: > To prove that Wall Street is an early omen of movements still to come in GNP, commentators quote economic studies alleging that market downturns predicted four out of the last five recessions. That is an understatement. Wall Street indexes predicted nine out of the last five recessions! And its mistakes were beauties.[20] * https://en.wikipedia.org/wiki/Paul_Samuelson#Aphorisms_and_quotations https://en.wikipedia.org/wiki/Paul_Samuelson#Aphorisms_and_q... Paul Samuelson was one of the most important economists in the 20C, and literally wrote the textbook: * https://en.wikipedia.org/wiki/Economics_(textbook) https://en.wikipedia.org/wiki/Economics_(textbook)