&gt;This is just a train wreck of misinformation.<p>So are the markets.<p>&gt;First of all, not a lot of people actually use academic economic theories<p>Maybe not, it you don&#x27;t consider Black-Scholes and it&#x27;s endless brood of offspring to be serious academic theories.<p>Not many people use nation-state Keynesian or other big macro policy theories to play the markets - which is a different point.<p>But it&#x27;s a relevant different point, because it highlights the <i>political</i> reality of using macro as a hand-wavey excuse for policy which benefits market operators and the owners of the money behind them at the expense of the rest of the population.<p>&gt;It is called &quot;the random walk hypothesis&quot; and is the foundation of a lot of assumptions.<p>Quite. Does it not worry you that this is true, or that even with this insight manic-depressive boom-bust behaviour is apparently still considered a feature, not a bug?<p>&gt;So I urge you to actually build an informed opinion<p>I suspect my opinion is at least adequately informed. Perhaps you&#x27;re mistaking being heterodox for being wrong?