economic unpredictability Quotes

There is a problem in pretending I can still control my destiny in the commercial market.

Economics profession, they've been - they've been confident in various formulas, but economics is not physics. The same formula that works in one decade doesn't work in the next. Economics is a difficult subject.

We can’t even project [budget surpluses and deficits] accurately month-to-month, much less for an entire year.

The market is incredibly inefficient and capable on rare occasions of being utterly dysfunctional. And people have a really hard time getting their brain around that fact. They want to believe that it's approximately efficient almost all the time, and it simply isn't true.

Economics is not an exact science.

Did you ever figure to be living in a time when your check is good, but the bank bounces?

Economics was the only profession where a person could be considered an expert without having once been right.

I have no idea what's going to happen. Who knows - if they can't afford to buy a boat, maybe they buy a print. Who knows what happens with their buck?

The inscrutability [of economics] is perhaps not unintentional. It gives endless employment to dialecticians who otherwise might become public charges or, at very worst, swindlers and tricksters.

Obviously, no one knows when the market is going to bottom out, and I am certainly not an economist.

In economic life and history more generally, just about everything of consequence comes from black swans; ordinary events have paltry effects in the long term.

People are, you know, a little - they're still uncertain, and they're uncertain both because they don't know what might come next in terms of regulations, but they're also uncertain because of changes in a global economy that we're only beginning to take hold of.

Nothing is certain in London but expense.