Predictions of economists

Economists make predictions because they're asked, not because they know.

- John Kenneth Galbraith

It will happen again

I'm sure a crash like 1929 will happen again. The only thing is that one doesn't know when. All it takes for another collapse is for the memories of the last insanity to dull.

- John Kenneth Galbraith

Know what you don't know.

One of the greatest pieces of economic wisdom is to know what you do not know.

- John Kenneth Galbraith

Here is a partial list of what I don't know.

1. Technical terms used by the pharmaceutical industry and correlate with the economic output the industry generates.
2. The way most of the real estate companies operate to earn their bread and butter.
3. To predict the year end price targets of indexes.

Economic forecasting

The only function of economic forecasting is to make astrology look respectable.

- John Kenneth Galbraith