“The only thing I know is that I know nothing” may be attributable to Socrates given it is the “Socratic paradox.” After all, Plato attributed it to Socrates when he wrote, “For I was conscious that I knew practically nothing.” And it was said to be the answer to a question Socrates posed to the Pythia, the Oracle of Delphi, to which she replied, “Socrates is the wisest person in Athens.” At root is the belief that people should not think they know what they don’t know. True wisdom, rather, comes from an awareness of the limits of one’s knowledge. As for those closest to us, the wisest are those humble enough to appreciate their ignorance. A related phrase is “The more you know, the more you know you don't know,” which we know was coined by Aristotle and shared by Albert Einstein. No doubt, these great minds were a tremendous influence on another oracle who could turn a phrase as no other -- Yogi Berra.
The notion of things not adding up permeated after the release of yesterday’s ISM Services headline, which defied credit managers’ guidance.