
IPFS News Link • Economy - Economics USA
BofA "Explains" Why Optimistic Economist Forecasts Have Been So Wrong In The Past 5 Years
• zerohedge.comOf course, this is not even remotely close to economic analysis as it assumes a perfect world devoid of any realitym and would hardly even pass as an Art 101 project.
This, however, appears to have ruffled some feathers among Wall Street's economic community, especially among those who extrapolate trends for a living. Such as BofA's Michelle Meyer, who overnight released an amusing note titled "The Random Act of Forecasting" in which she tries to explain how 7 years after the advent of central planning, first in the US and soon everywhere else, everyone has been so massively wrong when it comes to forecasting the "imminent" recovery.
Amusing, because it contains the following attempt to scapegoat a "series of mini shocks":