Those Doggone Expectations

It seems like a continuous broken record: Month after month, mainstream economists offer their lofty predictions and, once the results roll in, we find that they have missed the mark yet again!!

US employers hired far fewer workers than expected last month, pushing up the jobless rate, as high energy prices and the effects of Japan's earthquake took their toll on the world's largest economy.

Companies added 54,000 workers last month, the labour department said, the weakest reading since September and only a third of the 150,000 increase forecast by Wall Street.

Statisticians also revised figures for March and April, with 39,000 fewer jobs created than previously estimated.

Private employment rose by 83,000, the smallest increase since last June. The overall jobless rate picked up to 9.1% from 9%...

I am beginning to wonder how the people on Wall Street are able to find their shoes or ties each morning!! Do they use an 8-ball or a ouija board to come up with these predictions?

It's hard to imagine how these folks can be the titans of the financial world when they are so often wrong in their forecasts. But here's the kicker. Turn on any mainstream news program or visit any of the leading mainstream media websites and these people are listed as experts and quoted ad nauseam.

They indeed are experts, but they are experts of the failed "expectation". Why do we keep listening to them?

It's no wonder that the taxpayers keep having to bail them out! They have no idea what they are doing and their continued failures are wreaking havoc with the world economy.

Here's another point to chew on. If they continually are wrong in their economic forecasts, why are they paid so damn much? If this were elementary school, they would be flunk outs!