Who says economists don’t have a sense of humor? Well, maybe you will, after you find out
that I admit to having chuckled over these accounts. Judge for yourself.
A famous economist is
trying to capture terrorists by combing through data on banking records. Wimpy. Wimpy. Wimpy.
A real rogue economist would go after them with his bare hands.
There is not a single asset class that has not been pronounced as being in a ‘bubble’ in recent
years. My working definition of a bubble is anything that goes up in price faster than The
Economist magazine can understand.
And if you’ve never heard the story of how P.T. Barnum came (incorrectly) to be credited with
the phrase, “there’s a sucker born every minute,” it’s truly an href="http://www.historybuff.com/library/refbarnum.html">all-time great one (scroll down for story).