30 December 2023

Prognosticators in Dante's 8th Circle of Hell - Or Why I May Not Attempt an Economic Forecast for 2024

I was tempted to generate a forecast for 2024, but then I remembered that in Dante's Inferno he puts prognosticators in the eighth circle of hell. Fortune tellers and astrologers have their heads twisted around, forced to wander backwards for all of eternity in a punishment that symbolizes the twisted nature of their attempts to see into the future.

Then again, Dante doesn't mention economists in that group of prognosticators so I may just play with a couple of possibilities for this new year, specifically having to do with real interest rates and the resultant change in equity prices. But if I don't, you'll understand why.

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