Jan 23, 2019 06:41 PM

Opinion: The World Economy Went Hollywood in 2018

Photo: VCG
Photo: VCG

If there is one useful conclusion that economists and investors can draw from the crazy year that has just ended — indeed, from the whole crazy decade since the Global Financial Crisis of 2008 — it is this: As they say in Hollywood, “Nobody knows anything.” In the film industry, the richest and most experienced studios and producers spend vast amounts of time and money on audience research, but still have no idea if their latest creations will turn out to be hits or flops. So why be surprised if the same is true of financial markets — or, for that matter, of commodity prices, policymaking and corporate performance?

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