April 25, 2021 | Stumbling to Scarcity John Mauldin John Mauldin is a renowned financial expert, a New York Times best-selling author, and a pioneering online commentator. Each week, over 1 million readers turn to Mauldin for his penetrating view on Wall Street, global markets, and economic history. In economic forecasting, reality is usually somewhere between the extremes. The best-case and worst-case rarely happen. That’s why, when they do happen, markets react so quickly to the “missed expectations.” I saw this early in my career. Realizing we will “muddle through” most of our problems was immensely valuable and sometimes profitable. But as our problems grow in scale, I’ve had to change my attitude. Now I usually expect to “stumble through,” as we see more of those extremes, and more extreme reactions to them. We still make it, but with some bruised knees and painful scrapes.