Revised: Wilde's Laws of Macroeconomics

I misspoke last week. I inadvertantly switched the first and second laws.

Wilde's First Law of Macroeconomics: Macroeconomics is complete and total horseshit.

Wilde's Second Law of Macroeconomics: Whenever there's a consensus by macroeconomists, the truth is the exact opposite.

In my estimation, the best macroeconomists are global fund managers with a track record. If I want to find out what's going on with the economics of a particular society, I listen to people who make their evaluations about currencies, interest rates, culture, government spending, etc and actually put their money where their mouths are, and on top of that, are successful. People who don't bet their own money can say whatever they want and not pay a cent for being dead wrong.

Jim Rogers and Marc Faber are far better macroeconomists than Paul Krugman.

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