Alan Greenspan Says “Certain Things” Cannot Be Forecast!


I think Greenspan has to read this article by Dirk Bezemer ‘No One Saw This Coming’ – Or Did They?

Greenspan however confesses that economic models do not have flow of funds in them (just what Bezemer highlighted about mainstream models as opposed to heterodox ones) but claims that the “sophisticated models” of the IMF, the Federal Reserve or JP Morgan explain the real economy well!

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