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About this quote

What does it mean?
The speaker expresses distrust in economists' predictions.
In plain terms
They won't rely on economists.
What can you take from it?
Skepticism toward expert forecasts can be prudent.

Where it applies

  • policy making
  • investment decisions

Putting it to work

  • seek multiple data sources
  • validate models

Questions to consider

  • When is it wise to ignore expert advice?
  • How can one assess economic forecasts?

Another view

No context is given for why trust is lacking.

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