> This is not a misprediction because in any sane world, the prospects of very high inflation would result in a spike of the gold price.
Keynes mentioned "animal spirits" and "the market can stay irrational longer than you can stay solvent" almost a hundred years ago. If your prediction doesn't account for reality and well know facts it's a bad prediction.
It would be like guessing that the next election will favor candidate X and when they don't win explaining it away with "well but people are dumb".
Keynes mentioned "animal spirits" and "the market can stay irrational longer than you can stay solvent" almost a hundred years ago. If your prediction doesn't account for reality and well know facts it's a bad prediction.
It would be like guessing that the next election will favor candidate X and when they don't win explaining it away with "well but people are dumb".