Reminds me clearly on the description of economics given here – and why the determination to “make predictions” is a bit dodge. I see Barry Ritholz is also chatting on these things, I will be posting about that at some point!
And via the above post, I see that I compared economic forecasting to Tarot Card reading in 2009. I have now moved on to comparing devices of economic communication to tarot card reading. Obviously, I need to find more occult devices to improve my forecasting methods!
Note: This is neither a criticism of broad economics, or of the specific area of economic forecasting (seen as a way of synthesizing and communicating information). See how I view method in economics here.