The Mudcat Café TM
Thread #165570 Message #3976074
Posted By: Iains
11-Feb-19 - 04:37 AM
Thread Name: BS: Brexit #3: A futile gesture?
Subject: RE: BS: Brexit #3: A futile gesture?
But they are 'experts', DMcG, and the Brain-of-Little-Britain-types who voted Leave are "Fed up of experts".
I find it useful to put such quotes in context. From the same Guardian article we have the gem:
Prakash Loungani at the IMF analysed the accuracy of economic forecasters and found something remarkable and worrying. “The record of failure to predict recessions is virtually unblemished,” he said.
His analysis revealed that economists had failed to predict 148 of the past 150 recessions.
A rational person would thus take the pontifications of economists with a large pinch of salt.
Forecasting is more an art than a science. Why else did all the referendum forecasts become so unglued?
Statistically to be fed up with, and ignore experts, keeps a person in closer touch with reality.
I wonder how true this would be for the religion of climate change?