Clive Granger: Macro Economy
on Saturday, September 4, 2021Clive Granger Money Quote saying financial markets rise and fall on waves of activity while the bigger picture is steadier seas. Clive Granger said:
“The stock market is like a small row boat on a rough sea, bouncing around as it drifts, whereas the macro economy is like a large ocean liner, very ponderous and difficult to maneuver but without such a rough journey” — Clive Granger
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In this quote, Clive Granger is comparing the stock market to the macro economy. He likens the stock market to a small row boat on a rough sea, implying it is unstable and fluctuates greatly due to various forces. In contrast, he describes the macro economy as a large ocean liner – it is massive and not as easily swayed, but also more “ponderous” or unwieldy.
So Granger is suggesting that while the stock market sees major ups and downs, the overall macro economy is much larger and more stable, though also harder to steer in a certain direction. The quote captures Granger’s view of the stock market as volatile compared to the macro economy.
Birthday: September 4, 1934 – May 27, 2009