That’s quite embarrassing

No idea who this smart alec is. In fact I am not sure I like him, he sounds like he will be insufferable at dinner parties for the next 20 years or so (“you know, I predicted the Great Unwind of 2008-2010”). But this video indicates 2 things to me:

1) stating very definite opinions about outcomes which will be determined by the market is not always good. State assumptions. Hedge. No matter how convinced you may that you are right, there’s at least a very small chance you may be completely wrong

2) because of this, even if you vehemently disagree with someone you are sitting next to in public, especially on TV, it is always good to be polite. Do not engage in exaggerated passive-aggressive sighing and gasping.

Spinoza was always scrupulously polite.

(HT Andrew Sullivan)

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3 thoughts on “That’s quite embarrassing”

  1. Schiff is some kind of hero and gets the message out despite the trivial time allocation. He has to act tough in the face of the people they have on and the style of ‘discussions’ on Fox/ CNBC.

    The big issue of the last few years is why weren’t the policy makers and heads of industry listening to Schiff/ Nouriel and others. It is not the their economics which was spot on: unlike the poor forecasting teams at the central banks.

    The $ 64 Tr. question then is. What is it that creates the deafness to the Cassandras?

  2. What is it that creates the deafness to the Cassandras?

    Hubris.

    Baruch, its all about image isn’t it? Not what it is, just how it looks. When a lunatic tells me that the house is on fire, I give him the courtesy of checking.

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