Tuesday, March 18, 2025

Daily Economic Update: March 18, 2025

Arctic Wisdom

Remember your job is to identify the book and post your answer. You can also simply share any thoughts in the comments.


Today’s Quote/Passage:


On September 21, 2011, in the face of a declining stock market, the FOMC announced what the financial press would dub “Operation Twist”...Fisher again dissented, explaining why in a speech on September 27…He showed a photograph of the sign outside Jan Mayen Arctic weather station…Subject to brutal winters, the station was described by writer Tom Clancy in The Hunt for Red October as “Loran-C”...The sign greets visitors in the Norsk language, which translated to English reads: “Theory is when you understand everything, but nothing works. Practice is when everything works, but nobody understands why. At this station, theory and practice are united, so nothing works, and nobody understands why.”


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