(Zim: A motley fool article . .)
http://www.fool.com/investing/general/2011/07/29/20-surveys-that-sum-up-the-economy.aspx
Three people are stranded on an island: A physicist, and chemist, and an economist. They have one can of food, but no way of opening it.
The physicist chimes in: He can build a catapult and smash the can open.
The chemist adds his idea: Some combination of acids might melt the lid off the can.
Then the economist figures it all out: Guys, this is so easy. Let's just assume we have a can opener.
True stuff. Finance people use dense theories and inane assumptions to solve problems, if only to prove their ideas’ worth. Earlier this year, former Federal Reserve Chairman Alan Greenspan wrote a paper packed with Greek symbols and wild assumptions, all trying to calculate what, exactly, was holding back businesses. I suggested a different approach. He could have just asked them. There are plenty of reputable surveys showing exactly why companies are glum: Sales are poor. That's it. No Greek required.
Surveys are, of course, fallible.
(Article does continue - with quick summaries from
some 20 different polls. Zim.)
Mad Poet Strikes Again.
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