On Feb 20, 2:40*pm, Hawke wrote:


In his presentation he said all the economists including the CBO got it
wrong in predicting the financial and economic crisis we just went
through. I say that is proof of the "magnificent" job economics does in
predicting the future. In short, it stinks. So keep that in mind next
time Pimpton tells you how great economics is a predicting, because it
ain't.

Hawke

But you do note that Congress believes it is worthwhile to have a
CBO. So that means that a lot of people think economics is worth
studying. And even if the miss the mark, they generally get the
direction that the economy will take. You are right they do not get
their predictions exactly right, but you have to remember that
thousands of people read what the CBO says and that changes what
happens.

Dan