As oil prices plunge further,China slows and Brazil risks collapse, cracks will be papered over and the scene set for a new implosionEconomic forecasting is a mug’s game. One thing that has been learned from the financial crisis and mighty Recession is that even those equipped with the most sophisticated models accumulate it wrong, or sometimes spectacularly.
So it is with both humility and trepidation that I will try to fulfil a promise made last week and develop predictions for what is going to happen in 2016. In all honesty,the future is unknowable and anybody who says otherwise is lying.
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Source: theguardian.com