In relation to economics and how the world works,  you want the truth?  " You can't handle the truth! " 

And let's be honest, there's probably something in that. Although we the people will never admit as much, we were in a whole prefer to be spared difficult truths. That, in essence, there's a huge gap between the people who understand money and economics and the rest of us.

Some of the gap is created deliberately with the use of secrecy and obfuscation, but more of it, I think, is to do with the fact that it was just easier this way, easier for both sides. The many people don't have to explain what they were up to, and got to write their own rules, and did very well out of the arrangements; and for the rest of us the brilliant thing was we never had to think about economics.

For a long time, that felt like a win win. But it doesn't any longer. The current swept many of us to the sea, even when we got back to the land and those who did, can remember how powerful it was, and how helpless we felt. It's a gap we have to close,  both at the macro level, in order for us to make more informed democratic decisions, and at the micro level, in terms of the choices we make in our own lives .

A big part of the reason this gap exists is almost embarrassingly simple, ; it's to do do with what the pro money people is doing and talking about. On the TVs and digital media or the other information voices, a voice is going on about fiscal this and monetary that, or marginal rates of such and such or bond yields and oil prices , of share prices and bull and bear, and we sort of know what they mean.

But in reality, not really and not with the completeness which would allow us to follow the argument in real time. All the above pro money people is talking about , is a two word term which packs in a great deal of knowledge of how things work, not just in the market and finance, but across whole societies.

I hope everyone else too,  should know the second law of the pro money people's minds and why that matters, and what monetarism is and what GDP is, and what a inverted yield curve is, and why it's important and scary.

From the starting point, of their interest and intention, the details of modern monetarism are often complicated, but the principles underlying those details aren't.  You will be more confident in your own sense of what those principles are. 

So this is how I think it works. The two biggest words " known unknowns" are those of those of inequality and crises in relation to resources. This issues are going to play out over the next few years. The efficient market theory says you can't do better.

As the assessment of what a particular stock is worth, than what the market thinks it is worth. Note that this doesn't mean it's impossible to know better than the market ; you might well have private sources of information , say sales data that the company doesn't released yet. In that case you can certainly di better than the market 's predictions about a company's performance.

But you'll be running the risk of going to jail for insider dealing. What the efficient market theory saying is that's impossible to do better than the market on the basis of publicly available information. If the market is perfectly efficient no one will bother studying prices in the first place.

When we think of invest wisely,  one should specialise and exchange, one mode of analysis or another, different circumstances and sometimes different time horizons and or different prescriptions. Choose the right model for the given problem and to abandon it when the problem changes shape. 

Shall we?