It's not that economists are always wrong. Now, the ones in the media really tend to be...

1) Politicians: They are more concerned with looking nice to the people in the present rather than being right. For a politician it's far more important to be liked by the people than being right so they say what they perceive as the public's wishes when they speak. When the realization that they were wrong comes, many water already passed under the bridge and they can spin it in multiple ways.

2) Academics: Those who have always lived and worked in the pure academic environment and have no experience in the real world, those who have never worked in positions where their income depends on their accuracy, also tend to be wrong. Reality is far more complex than the sterile academic conditions are able to replicate.

Then you have several others, regretfully very rarely seen in the media anywhere, who work in positions where their expert opinions are important and people's money along with their own depends on what they say, write and do. These are worth listening. Also the ones who have an impressive resumé of earnings due to their efforts, mostly in the financial markets, are worth listening. Consistently earning money in the financial markets throughout a period of several years is the ultimate test about one's understanding of the economy for the way markets move is the sum of all forces acting upon it. Only those who truly understand them can earn money consistently and, therefore, understand the economy and have the ability to look forward to the future.

It's not that economy is like astrology. Far from that. One just must look for the answers in the right places instead of feeding on what those either with an agenda or inexperienced in real world conditions (or both!) say, not in order to enlighten the public but to promote their interests. Don't expect accurate previsions to the third decimal point. Economy is not engineering. From those who indeed know what they are doing, you can expect, however, a very high degree of accuracy and also the presentation of different possibilities according to this or that scenarios occurring in the future. Also these tend to be much less dogmatic than the former.

Quite so.

Such words as economics and engineering are easily conflated by those who wish to claim, or just imply, that they have some special insight or even powers to foresee the future in what are complex human relationships.
Only the Good Lord Harry knows why we put them into positions of influence and power.

In other instances, "businesses" are referred to as "industries" as if to imply that there is some form of value added to the real economy rather than dealing in the system of shadow banking and financialisation; the latter being part of the globalisation taking place at present, in my view - all being discussed over in "the other thread" so I will desist for now.

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Dave

Such as Peter Hargreaves, for example.
http://citywire.co.uk/money/peter-ha...mpaign/a907486

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Dave

Well as you love your figures and stats so much, you might noticed the ones from the previous post of yours don't match. In some instances, not even close.


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Well, you might have noticed one is a poll of polls and one is a single poll included within the poll of polls.

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Paul "Every county of England, every country of Europe and every (part of every inhabited) continent of the Earth" 94% done! What's left? Central America, East, Central and West Africa, Australia & New Zealand

So as usual your spouting shite. Not that difficult.


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Can people please refrain from personal insults and childish trolling...

Anyway..

Here's a video to cheer you up.

https://www.facebook.com/theguardian...6897629498005/

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Did some trips.
Rode some bikes.
Fix them for a living.
Can't say anymore.

...in other news, Westminster scuttlebutt has it that Dodgy Dave is expected to create around 25 new Conservative peers within days of the EU referendum. One source reported: ‘We’ve been told the Tories are keen to reward In campaigners, and party donors who are refusing to back the Brexit campaign.’

"Vote remain - the establishment wills it and has ways of taking care of of its' supporters"

This is the kind of ethics & behaviour you will reward if you vote remain. Vote Leave.

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Well said, this thread has way too many trolls in it.

Nice.

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Paul "Every county of England, every country of Europe and every (part of every inhabited) continent of the Earth" 94% done! What's left? Central America, East, Central and West Africa, Australia & New Zealand

Genuine little keyboard warrior aren't you. Go on, post us another pie chart up, we are interested, honest.


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YouGov’s Portrait of America polling

YouGov's "Portrait of America polling reveals some uncomfortable truths for Remainiacs:-

As well as rejecting EU-type arrangements for their own nation, and choosing Margaret Thatcher as their favourite international leader of recent decades, 59% of Americans also rejected President Obama’s suggestion that the UK should go to the “back of the queue” in trade talks if it voted to leave the EU.





...also follow the link and you see that less than a third of American's would support EU-type arrangements for the USA.

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and 30% of republicans voted to bomb a mythological city

Thus proving that 30% are idiots

It's an interesting perspective and I empathise with their sentiment. Thing is though, unless the American people are going to get a post-Brexit referendum on their relationship with the UK, the poll is pretty irrelevant so not that uncomfortable reading for those intending to vote Remain.

Although I doubt that the US-UK relationship will be particularly high on anyone's agenda in November, what's more valid is what Trump or Clinton or Sanders (or Elizabeth Warren) think.

I'm not up on their opinion, assuming they've expressed one.

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Paul "Every county of England, every country of Europe and every (part of every inhabited) continent of the Earth" 94% done! What's left? Central America, East, Central and West Africa, Australia & New Zealand

Well put Paul, and believe me I am calm.
I hit the ignore button after my last comment! Silence is bliss!


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