Forecasts Quotes
Despite this reality, most politicians, if they have the resources and high enough position, surround themselves with experts to advise them and then listen to them to take positions in campaigns or advise them on policy making if they are in office.
The great scholars were as wrong as everyone else about the Great Depression
This may have been the worst stock market advice ever sent to customers. The Great Depression would suppress the economy of more than a decade.
Greenspan, and his huge staff of economists all completely missed predicting the Meltdown of 2008. They had the power to regulate many of the banks and other companies that got into trouble in the Great Recession. However, all the financiers and economists of the banks of America with their staffs, not only missed the predictions but recommended the disastrous course of activity that almost destroyed the nation’s economy. Only a handful of economists predicted the Meltdown. Those few were not connected with any of the banks or any of the government bank regulators which had become so much like each other as the result of the revolving door, that there was little difference in their thinking.
Major bankers were not only clueless in the Meltdown of 2008 and the Great Recession that followed, but they were equally hapless in the Market Crash of 1929 and the Great Depression thereafter.
