Posted: Feb 28, 2010 4:52 pm
alienpresence wrote:Just thinking how the predictive element of economic forecasts always seems to happen after a market event? I know this is probably a silly idea since all our lives depend on a stable fiscal system. What if the 'economy' was just so much astrology and oil?
It does resemble more pseudo-science than science, at least within some areas. The stock market, for example, seems to be unpredictable. Its behavior may be best described by chaos theory.
Have you read Freakonomics?