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Why did God create economists? To make weather forecasters look good.

“The joke’s an old one, but it’s been given new life after the chief economist of the Bank of England—among the most important jobs in the profession—compared economics to one of the biggest forecasting failures of weather people.” “Andy Haldane is optimistic that, like meteorology after its fiasco, applying more data and advanced computing can help…

Assessing the "Obama Economy"

Wall Street Journal Marketwatch columnist Brett Arends assessed the progress of U.S. economy under the Obama administration by comparing data from the third quarter of 2008 — just before Obama’s election — with the third quarter of 2016.The Obama Economy Third-quarter 2008 Third-quarter 2016 Verdict Gross domestic product (2009 dollars) $14.892 trillion $16.713 trillion Up…