Tricky

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Guardian UK
Chief economist of Bank of England admits errors in Brexit forecasting
Andrew Haldane says his profession must adapt to regain the trust of the public, claiming narrow models ignored ‘irrational behaviour’

It is not the models Andy~!
It is that the whole idea of modelling something as complex as `the economy`.
It is, basically, not possible … and probably never will be.

“It is difficult to get a man to understand something, when his salary depends on his not understanding it.”

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Here is another lot –

Guardian UK
Sugar is the ‘alcohol of the child’, yet we let it dominate the breakfast table
by Robert Lustig
With kids consuming half their sugar quota first thing, it’s no wonder they’re getting diabetes and liver disease. We have to fight corporate interests

Is it~?

You know what is right … and so do millions of other people (who actually think different things to you).

Why do we not agree~?

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Why are Americans buying less (fewer) cars … but more trucks? –

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Why do Americans shoot themselves? –

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How do you get inflation in countries where income levels are falling~?

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  • amoeba

    I am going to have to wean myself off the bloody internet.

    The fucking thing sucks people in and never lets them out again. There is always another tab to open, another link to click, another little blip showing I’ve received an email, or a PM, it is a relentless beast devouring my day, click by bloody cick.

    The income table shows that it is all going to plan, just taking a while to get there. The siesta group are deflating and the engine of Germany has shown some growth.

    The possibly better plan would have been to have Germany inflate by 100% and the rest to stand still, but that was never going to work. Die Teuerung ist streng verboten in Deutschland.

    Well, it would be going even better to plan if Germany now invested in the siesta lands and gave them something industrial to wake up to. But this is going to take more than forever, the climate is certainly not conducive to all that effort.

    It is truly a great pity that all these young lasses end up as lard arsed flabby baby incubators once they have secured a mate. But at least we have a few photographs of them.

    • I’m afraid you are right … that, it is `all going to plan` (deflating the Medys).

      Trouble is though … they may not forgive `Brussels` for pricking them~!

      • amoeba

        The next stage of The Plan is just twelve months away.

        “The Fiscal Treaty states that the signatories shall attempt to incorporate the Fiscal Compact into the EU’s legal framework, on the basis of an assessment of the experience with its implementation, by 1 January 2018 at the latest.”

        The Euro-Edifice has now gained so much momentum, I doubt whether it can be stopped. There is a vision that Europe just needs to get through these “growing pains” and will emerge from the tunnel into the light and onto fields of green shoots, attaining the dreams of the Leaderz.

        https://en.wikipedia.org/wiki/European_Fiscal_Compact#Title_IV_-_Economic_policy_co-ordination_and_convergence

        I could even put forward a totally wild and unbelievable hypothesis that Brexit has been orchestrated because the UK staunchly refused to enter into both the monetary and fiscal unions, but still wanted a loud voice in the governance of the Union.

        Only team players are acceptable in the team.

        • It is good to be part of `a project`.

  • amoeba

    I am very surprised that Haldane did not trot out the line,

    “Thanks to accurate forecasting by our team, the MPC pro-actively cut the interest rate by 50% in August and substantially increased the asset purchase program. This timely action has staved off the forecasted recession and the economy of the UK is doing as well we hoped through our careful helmsmenship.

    We are continuing to use our models, which have confirmed their value in past monetary policy, and indeed will continue to provide an accurate assessment of the direction our economy is moving”.

    He has surely missed a great opportunity to promote the cause of the economists.

    • I’m pretty-sure most of them know they are charlatans.
      You do what you have to … enough … so you can live with yourself … justification … who cares~?

  • CSArichardo

    The light duty truck category is lite trucks, mini-van and SUV !?

    Probably a fresh batch of young singles (truck), young parents (mini-van) and retired people (SUVs) !

    http://online.wsj.com/mdc/public/page/2_3022-autosales.html