Three little reminders that I really should print out

HT to Tyler Cowen for sharing these rules with his readers. They are dubbed “Cowen’s Three Laws.”

1. There is something wrong with everything.

2. There is literature on everything.

3. All propositions about real interests rates are wrong.

#1 and #2 are intuitive, but what about #3?

I read #3 as it’s easy to make claims about the future or that which is not certain; those claims are often wrong. Best to treat claims about what hasn’t happened with skepticism.

All three are useful reminders. Hope they help you too.