Everyone Believes It; Most Will Be Wrong: Motley Thoughts on Investing and the Economy

by Morgan Housel

What really gives people meaning and happiness is a combination of four things: Control over what they're doing, progress in what they're pursuing, being connected with others, and being part of something they enjoy that's bigger than themselves.

"Those who claim to foresee the future are lying, even if by chance they are later proved right."

So go down the list of current popular predictions: Unemployment is going to stay high for years; national debt will rise precipitously; stocks will never be great again; inflation is going to surge; China owns the future. Some of these predictions are almost certain to never come true. Which ones? I don't know. No one does. That's the point.

"Beware of the person who can't be bothered by details.” -- William Feather

"Rather go to bed without dinner than to rise in debt.” --Benjamin Franklin

"If history repeats itself, and the unexpected always happens, how incapable must Man be of learning from experience.” -- George Bernard Shaw