Economists were invented to make astrologers look good

From the front page of today’s Pravda:

Singapore will revise its growth figures again ahead of Thursday’s budget announcement, Prime Minister Lee Hsien Loong said yesterday. This second revision in a month

If you have to slash your economic forecasts twice in one month, you’re probably doing it wrong.

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2 Responses to Economists were invented to make astrologers look good

  1. Tahoe says:

    excellent. thanks for sharing that. I love it. One of my dad’s favorite sayings was “as long as your mistakes don’t kill you or put you in jail, try not to repeat them too often”. Great post!

  2. Barry says:

    Unless, of course, you’re doing the forecasts for a city-state which lives very, very, very heavily on international trade. These guys are probably pulling the European news during the european business day, then switching to the the USA, then catching a nap until the Pacific Rim wakes up, and finally going to the Middle East news before starting again on Europe.

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