The failure to predict the financial crisis was a “Michael Fish” moment for economists, the Bank of England’s chief economist has said. Andy Haldane compared financial forecasts to the famously inaccurate forecast by the BBC weatherman, ahead of the UK’s great storm of 1987.
He said the profession was “to some degree in crisis” following the 2008-09 crash and the Brexit vote. The Bank denies claims it gave gloomy forecasts to support the Remain side
Well, the bank would say that… wouldn’t it ?
Why should we believe a ‘profession’ run by criminals and financial terrorists ?
This needs a much deeper investigation.
Scientists and 'experts' are ten-a-penny these days. Some will say whatever you want them to say; it's just a matter of discussing a price - or by using blackmail to get the desired outcome.
(Not a famous quote; it's just my natural cynicism)