by John Mauldin
Regular readers know I often criticize so-called “experts,” usually economists or central bankers whose flawed decisions are punishing the rest of us. I find their expertise is not nearly as reliable as they seem to think.
At the same time, I rely on experts whose judgment I respect. I know they aren’t perfect—usually because they know and disclose their own limitations, and limitations of the data they rely on. I take ideas from many sources, load them in my mental blender and produce what is hopefully a smooth, tasty concoction you read in my letters.
The interesting part, one that often slips my mind, is that sharing these ideas makes many readers consider me an economic expert. Then they hold me responsible for whatever I said, just as I do with central bankers.