Forecasting is just voodoo economics
The danger is that the Bank's doom-laden words, simply because things are uncertain and by definition risky, affects broader thinking in the economy and contributes to an unwillingness to invest, for instance.
If only the Bank would come clean and admit it has no better idea than anyone else about what the future holds. At least then we could get on and make our own decisions free of the superstition that the Bank's experts know something we don't.
Recession Crazes
Forecasting is just voodoo economicsThe danger is that the...
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