U.S. Services Growth – Something Wrong With The PMIs Perhaps
At some point
We’ve all got to agree, admit perhaps, that there is no one single nor even set of numbers that will tell us exactly what is happening out there in something as complex as the US economy. This is the central point of Hayek’s “The Pretence of Knowledge”, that we can never gain real time information on something so large. True, he then went on to use this as proof that it’s never possible to pan an economy but we can use the same insight here about our investments.
It’s all too mu…