Monday, January 25, 2016

It's "Inherent"...



"THE ONLY FUNCTION OF ECONOMIC FORECASTING IS TO MAKE ASTROLOGY LOOK RESPECTABLE."

- John Kenneth Galbraith



[Have never heard it more succinctly "articulated"!] 




3 comments:

Anonymous said...

Precisely. It's all about the mean, the mode and the median. Once you determine all the factors related to the consequential changes in the formula used to make the determination as to whether or not the differential is applicable, you will then be able to arrive at a conclusion which will tell you if the event will have the impact on the economic simulators as originally predicted.

Anonymous said...

Always thought the phase of the moon was a critical driver of results: the lunacy corollary. Astrologically sound!

Anonymous said...

If you laid all the economists end to end they would still never reach a conclusion.