G C Lichtenberg: “It is as if our languages were confounded: when we want a thought, they bring us a word; when we ask for a word, they give us a dash; and when we expect a dash, there comes a piece of bawdy.”
H. P. Lovecraft: "What a man does for pay is of little significance. What he is, as a sensitive instrument responsive to the world's beauty, is everything!"
Martin Amis: “Gogol is funny, Tolstoy in his merciless clarity is funny, and Dostoyevsky, funnily enough, is very funny indeed; moreover, the final generation of Russian literature, before it was destroyed by Lenin and Stalin, remained emphatically comic — Bunin, Bely, Bulgakov, Zamyatin. The novel is comic because life is comic (until the inevitable tragedy of the fifth act);...”
Werner Herzog: “We are surrounded by worn-out, banal, useless and exhausted images, limping and dragging themselves behind the rest of our cultural evolution.”
John Gray: "Unlike Schopenhauer, who lamented the human lot, Leopardi believed that the best response to life is laughter. What fascinated Schopenhauer, along with many later writers, was Leopardi’s insistence that illusion is necessary to human happiness."
Justin E.H. Smith: “One should of course take seriously serious efforts to improve society. But when these efforts fail, in whole or in part, it is only humor that offers redemption. So far, human expectations have always been strained, and have always come, give or take a bit, to nothing. In this respect reality itself has the form of a joke, and humor the force of truth.”
विलास सारंग: "… इ. स. 1000 नंतर ज्या प्रकारची संस्कृती रुढ झाली , त्यामध्ये साधारणत्व व विश्वात्मकता हे गुण प्राय: लुप्त झाले...आपली संस्कृती अकाली विश्वात्मक साधारणतेला मुकली आहे."
Tuesday, July 01, 2008
In any case, The Economist asserted, the world faced “the prospect of cheap, plentiful oil for the foreseeable future…” (NYT, April 21, 2008)
The Economist October 6th 2007: “The American presidency is Hillary Clinton’s to lose…Mrs Clinton is clearly a formidable candidate for the presidency. She has the most powerful name in the business now that the Bush brand is tarnished. She has a smoothly working political machine. She has a wealth of experience in both the legislative and the executive branch. And she exudes competence. All told, she looks likely to translate this into both the Democratic nomination and a victory in November 2008…”
Homer Simpson might say: “Suckers!”
When Indian stock markets started falling in calendar 2008, the magazine probably thought they finally got one prediction right.
The magazine said on November 17, 2008:
“…India shows dangerous signs of irrational exuberance. It was swept by euphoria last month as the Sensex, India's benchmarket index, hit 20,000 for the first time. India's Economic Times declared, “The first 10,000 took over 20 years. The next came in just 20 months...Superpower 2020?” Instead, India's poor risk-rating should ring alarm bells.
China's economy looks less risky thanks to a small official budget deficit (many reckon that it really has a surplus) and its vast current-account surplus and reserves…
…The p/e for Chinese shares that foreigners can buy is a more modest 22, well below the 40 reached in 2000. In contrast, Indian shares, also with a p/e of 22, have never been so overvalued…
… The riskiest economies, all with current-account deficits and relatively high consumer-price inflation, are India, Turkey and Hungary…”
They risk-rated China 5, Russia 8, Brazil 12 and India at the bottom of the pile 15.
But as the luck would have it, sure Indian stocks have plunged since then but Chinese stocks have suffered worse, both in local currency and dollar terms! See the table below.
'Now the weather, and as usual it's a tale told by an idiot, full of sound and fury, signifying nothing.'
The Spectator 2008
My caption:’Now the future according to The Economist, and as usual it’s a tale told by an …’