Democracy Dies in Darkness

Imagine living in a world where the experts are never wrong, but their warnings are always ignored. This is the reality we face when it comes to economic predictions. Economist Dean Baker has earned a reputation for predicting economic catastrophe, and he tries to follow his own advice.

After the economist warned of a stock bubble in the late 1990s, he rebalanced his investments to reduce exposure to the market. Several years later, he became concerned that soaring home values would fall to earth, so he and his wife sold their condo in Washington.

## Economic Forecasts and Personal Consequences

Baker’s predictions are not taken lightly. He has been warning about the dangers of a stock bubble for years, and his warnings have been largely ignored. However, he continues to take his own advice, rebalancing his investments to avoid the worst of the downturn.

As a result, Baker has been able to avoid the economic pitfalls that have caught many others off guard. His foresight and willingness to take action have saved him from financial ruin.

## The Importance of Being Proactive

Baker’s story is a reminder that it’s never too late to take control of our financial lives. By being proactive and taking steps to mitigate risk, we can avoid the economic pitfalls that have caught so many off guard.

This is especially important in today’s fast-changing economy, where economic downturns can come out of nowhere. By being prepared and taking steps to protect ourselves, we can avoid the worst of the fallout.

## Conclusion

Dean Baker’s story is a powerful reminder of the importance of being proactive when it comes to our financial lives. By taking his own advice and rebalancing his investments, Baker has avoided the economic pitfalls that have caught so many others off guard. As we navigate the uncertain economic landscape, let us take a cue from Baker’s example and take control of our financial lives.