by Brian Hague, CFA
Many years ago, when I served as Chief Economist of a large financial institution, I kept a crystal ball in my office as an artifact of my profession. My daughter, then eight years old, came to visit my office, and when she saw the crystal ball, she asked me what I used it for. Tongue in cheek, I told her, “I use it to see the future.” She looked at it for several seconds, noticing that images viewed through a solid glass sphere are inverted. Then she commented, “Well, it says your future is upside-down,” proving herself a more astute economic observer than most.