Fatuous Forecasting
Look, economic forecasting is necessary. People need to act now in situations where the best decision depends largely or entirely on future conditions. So, go ahead, make a guess! Publish it if you want, and even ask others to pay for it if they will. But let's not pretend to accuracy we can't possibly achieve: "Some cities will continue to fade, however. Fort Lauderdale, Fla.'s forecast is for a 9.2% drop through next June and another 6.7% the 12 months after that." Don't you love that ".7" on the forecast for two years from now? If these folks can get within two or three percent for a two-year-out forecast, they are doing a fantastic job.