Tucker Hart Adams' 10 Rules of Economics
- Pigs don’t fly, but chickens do come home to roost.
- You can’t spend more than you make forever.
- There is a big difference between investment and speculation.
- Prices are ultimately determined by supply and demand.
- The “Economic Man” doesn’t always behave rationally.
- Adam Smith was right – the market works (supply and demand).
- There are no new paradigms.
- Incentives do work.
- Bubbles over-correct on the downside.
- Never make the mistake of believing your economic forecast.
“Bulls make money, bears make money, but hogs get slaughtered.”
-Tucker Hart Adams