It's that time again -- the time when Wall Street's highly paid "experts" tell us what to expect in the year ahead (via Bloomberg):
Forecasters at securities firms are...predicting the Standard & Poor’s 500 Index will rise 6.4 percent in 2012 as budget deficits around the world limit gains.
The benchmark gauge will climb to 1,338 after it was virtually unchanged in 2011 and the U.S. beat every equity market in the developed world except Ireland, according to the average forecast of 13 strategists tracked by Bloomberg.
Unfortunately, their collective track record leaves a little something to be desired:
In fact, you might want to keep the following in mind next time you see or hear the words "expert" and "forecast" in close proximity to one another:
Chris Hedges Interview
http://www.plutocracyfiles.com/2012/01/chris-hedges-interview.html
Posted by: Tired of experts?..watch this | January 05, 2012 at 12:17 PM
For to long, main street believed in the American "BS"
dream, that some day they could become part of the 1%
oligarchy, nothing like a good kick in the posterior to awake the hibernated brain.
Posted by: roger | January 05, 2012 at 01:41 PM