In these days of economic uncertainty…

Posted: November 10, 2008 in Uncategorized

.
… I came across this quote and damn if it didn’t strike a chord…

The only function of economic forecasting is to make astrology look respectable.

John Kenneth Galbraith

Not that I’m in any way qualified to speak of the economy.
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Comments
  1. That quote is priceless!To answer the question you left at MM about Molly the dog, I am going to ask the shelter if they can contact the previous owner and let her know that Molly has found a home. I sure do hope they can.

  2. Guillaume says:

    Brilliant quote. I always wondered why economy is considered a science. I think it looks more like fambling: it has rules, but it’s pure chance.

  3. choochoo says:

    I don’t know much about economy. But I do like shopping.

  4. Dumdad says:

    Speaking of the economy I was sent this today:21 Economic Models explained with Cows – 2008 updateSOCIALISMYou have 2 cows.You give one to your neighbour.COMMUNISMYou have 2 cows.The State takes both and gives you some milk.FASCISMYou have 2 cows.The State takes both and sells you some milk.NAZISMYou have 2 cows.The State takes both and shoots you.BUREAUCRATISMYou have 2 cows.The State takes both, shoots one, milks the other, and then throws themilkaway…TRADITIONAL CAPITALISMYou have two cows.You sell one and buy a bull.Your herd multiplies, and the economy grows.You sell them and retire on the income.SURREALISMYou have two giraffes.The government requires you to take harmonica lessonsAN AMERICAN CORPORATIONYou have two cows.You sell one, and force the other to produce the milk of four cows.Later, you hire a consultant to analyse why the cow has dropped dead.ENRON VENTURE CAPITALISMYou have two cows.You sell three of them to your publicly listed company, using letters ofcredit opened by your brother-in-law at the bank, then execute adebt/equity swap with an associated general offer so that you get allfour cows back, with a tax exemption for five cows.The milk rights of the six cows are transferred via an intermediary to aCayman Island Company secretly owned by the majority shareholder whosells the rights to all seven cows back to your listed company.The annual report says the company owns eight cows, with an option onone more.You sell one cow to buy a new president of the United States, leavingyou with nine cows.No balance sheet provided with the release.The public then buys your bull.A FRENCH CORPORATIONYou have two cows.You go on strike, organise a riot, and block the roads, because you wantthree cows.A JAPANESE CORPORATIONYou have two cows.You redesign them so they are one-tenth the size of an ordinary cow andproduce twenty times the milk.You then create a clever cow cartoon image called ‘Cowkimon’ and marketitworldwide.A GERMAN CORPORATIONYou have two cows.You re-engineer them so they live for 100 years, eat once a month, andmilkthemselves.AN ITALIAN CORPORATIONYou have two cows, but you don’t know where they are.You decide to have lunch.A RUSSIAN CORPORATIONYou have two cows.You count them and learn you have five cows.You count them again and learn you have 42 cows.You count them again and learn you have 2 cows.You stop counting cows and open another bottle of vodka.A SWISS CORPORATIONYou have 5000 cows. None of them belong to you.You charge the owners for storing them.A CHINESE CORPORATIONYou have two cows.You have 300 people milking them.You claim that you have full employment, and high bovine productivity.You arrest the newsman who reported the real situation.AN INDIAN CORPORATIONYou have two cows.You worship them.A BRITISH CORPORATIONYou have two cows.Both are mad.AN IRAQI CORPORATIONEveryone thinks you have lots of cows.You tell them that you have none.No-one believes you, so they bomb the **** out of you and invade yourcountry.You still have no cows, but at least now you are part of Democracy….AN AUSTRALIAN CORPORATIONYou have two cows.Business seems pretty good.You close the office and go for a few beers to celebrate.A NEW ZEALAND CORPORATIONYou have two cows.The one on the left looks very attractive.

  5. furiousBall says:

    the only comfort is that the global economy has throughout history shown a propensity to bounce back

  6. My apporach to bad economic times: I close my eyes and hope it will change eventually.

  7. Ian Lidster says:

    You’re as qualified as I am, and in light of the last few weeks, I think we’re both more qualified than Greenspan.

  8. geewits says:

    I like Lone Grey Squirrel’s recent post on the economy. It makes a lot of sense. I guess if you are very young these downturns scare you to pieces, but if you’ve lived long enough you see the cycles. This too shall pass.

  9. Jazz says:

    Pop – I hope they pass on the message, I’m sure it would make her feel a lot better.Guillaume – Yeah really.Choochoo – shopping is good. For you and the economy.Dumdad – Hilarious!Fuball – It’s a cycleCitizen – You and me bothGeewits – I’ll be sure to go check out that post.

  10. Here’ the inside deal on the real reason for the economic crisis: nobody knows.

  11. xup says:

    Bah – I’m too poor to worry about econimic crises. Like Geewits said, they come, they go. Nothing much changes in my life.

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