Oh Really? You could have told us that 60 years ago…
From Martin Wolf, chief economics commentator for the Financial Times:
“This, in short, is a time for humility. Why did we [economists] mostly get ‘it’ so sensationally wrong? How did something that looks increasingly like the precursor of a slump creep up on almost all of us this year? It is a pretty good question. It is a pretty embarrassing one, too. It is one everybody I meet now asks.”
Perhaps, because you economists are a bunch of worthless, over-rated toadies to power, trapped in a bizarre make-believe world of your own construct.