Economists have correctly predicted 9 of the last 5 recessions. Thats some good odds Chris. In America we have a culture of belief in expertise, the more arcane the subject the more we need experts. Since most people, myself included have only a fraction of an inkling of how our economy works, we tend to defer to experts; at least those that share our bias.
Americans need experts so badly that they don’t even bother to check most of the time the actual qualifications of said experts. There are a lot of experts out there, many masquerading as economists.
I want that extra 10% IQ, at least I think I do.
Josh
