SMBC desribes macroeconomic forecasting

Saturday Morning Breakfast Cereal is so so good.  And this cartoon is golden.

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.

Economists: Born or trained

Although that is an interesting title, I’m not actually going to talk about anything interesting.  Instead, Merry Christmas everyone – and here is a cartoon from Saturday Morning Breakfast Cereal (again):

(ht SMBC)

Perverse incentives

I’m a touch busy trying to keep up with Europe, given how things seem to be a little bit on the unpleasant side.  As a result, here is a cartoon from XKCD.

Source (XKCD)