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Now you tell me . . .
Posted By Barry Ritholtz On September 4, 2003 @ 2:06 pm In Current Affairs,Finance | Comments Disabled
Bernard Bernanke on the thankless task of economic forecasting:
“When I was a boy in South Carolina, my parents always advised me never to discuss religion or politics in public, those being subjects on which everyone has a strong opinion but on which no one can ever be proved wrong.
Everyone has strong views on where the economy is heading, but when the time finally comes to compare your forecast with the data, the world has changed in eleven unpredictable ways that no one can blame you for failing to foresee – that is, if they remember what you forecast in the first place.”
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