Ready or not, here they come.
March Economic Madness: One of the most difficult aspects of trend forecasting is getting the timing right. And when it comes to economics, there are many wildcards that can stall or detour any on-rushing trend. We called the Crash of ’87, the 1997 Asian Currency Crisis and the Panic of ’08 (we even established the domain name in 2007) right on the button. But we missed the mark with our Crash of 2010 prediction.
Why? The Federal Reserve and central banks around the world were secretly pumping tens of trillions of dollars into a failing financial system. These were, at the time, unimagined schemes for nations that pride themselves on capitalism. And while we are not naïve to the dirty dealings of the financial industry, rigging the daily multi-trillion dollar LIBOR and FOREX markets was not on our radar.