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Politics : President Barack Obama
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To: Road Walker who wrote (146705)11/3/2014 6:41:33 AM
From: ChinuSFO1 Recommendation

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Road Walker

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One thing I think the author got right, we're at a turning point. But I've been around long enough to know that predicting the economy or the Fed is a fools errand.


Even economists today from prestigious institutions such as Columbia say that the dynamics of the economy have become so complex today due to globalization, all their economic models of past years have been thrown in a quandary. We can't keep talking past economic theories which were devoted based in what existed then in terms of technology. Take the simple case of credit cards, Bitcoin etc. they were transformational ways in our economy. And then computing and add to that mobile computing where we buy and sell stocks within minutes of each other using yet another transformational technology of Internet.


So can't rest on being an economic expert based on models that did not have a basis in technology.


My 2 cents today while I wait at O'Hare for a connecting flight back to SFO from Boston.
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