Astrology and the market? No wonder it crashed

Contributed by
Oct 16, 2008

The New Jersey Star-Ledger has an article all about how astrologers predicted the stock market crash, and how Pluto moving from Sagittarius into Capricorn is part of the problem, and and and.

What is this article missing? Any sort of idea that astrology is total and utter nonsense.

Oh, at the very end there is a single anecdote about how one astrologer was wrong once, and the client lost money. But the first 90% of the article is all about astrology, and how many financial astrologers there are, and how much they charge.

It never once uses the word "fraud", more's the pity. Amazing.

Well, if you are concerned over this market, and you decide to go to an astrologer to get advice, this I will guarantee: you will lose money... the amount charged by the flim flam artist. But I bet the financial news is great for astrologers, because there will always be people lined up to pay them.

And I love the way the article ends:

"I haven't seen any successful studies or back testing or white papers on the subject to sway me," [Steven Kaye, president of the American Economic Planning Group in Watchung] said. "But who knows? It's probably better than listening to a tip from your brother-in-law's foreman."

Actually, I'm quite sure it is precisely no better at all. It's just as random, just as ill-informed, and just as silly.

Tip o' the water jar to Theresa Moody

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