And the forecast is...more forcasts

Since the New Year, we have been bombarded daily with forecasts from economists and strategists working at the world's leading banks. Quite why they bother to try to predict what will happen is beyond me. But on they go merrily forecasting away as if they actually knew what was going to happen to the US economy or to the strength or weakness of the rupiah. Quite simply, they cannot know what will happen, and anyone who puts any stroe by what they predict is disturbingly gullible.