The Experts In Prediction

https://i0.wp.com/www.interfluidity.com/uploads/2015/07/troika-forecasts-large.png

    The European Commission, The European Central Bank and the International Monetary Fund, known as the Troika, have been brokering Greek bailout loans since 2008. Part of the basis for these loans has been the belief that the turnaround in the Greek economy was just around the corner. This is illustrated in the graph above. The Ooops lines are the differences between prediction and actuality. The international bankers are among the highest-paid and highest-living government employees in the world, yet they cannot predict. Hmm.

    I’m sure the later projections have been just as Ooops or, perhaps, they’ve done the smart thing and recognized their own lack of ability, but that would destroy their illusion of knowledge.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s


%d bloggers like this: