It’s The Real Economy, Stupid
So the US economy is about to disappear into a long dark tunnel according to the IMF. Interesting? Worth a story on Sky News? Possibly … or not according to Trevor Williams, the Lloyds TSB economist who came on to Sky News this afternoon to tell viewers that the IMF is as good at forecasting as ……well
as Arsene Wenger was in predicting Arsenal would win the Champions League. The IMF forecast, in fact most economic surveys and forecasts, all suffer from the same problem. As soon as one says one thing, another rolls along with entirely different conclusions, or another expert helpfully tells us we’re looking at entirely the wrong set of figures.
admin @ April 10, 2008