Economic Forecasting

“The only function of economic forecasting is to make astrology look respectable.” — John Kenneth Galbraith

Yesterday, Black Friday, consumers spent 3% 1UPDATE: latest figures estimate that the increase may be more like 7% more than last year. All we heard on the news was how horrible for retailers the day would be. That folks were only going to browse. I think Mr. Galbraith is correct. The crowds even trampled a Wal-Mart employee to death in their rush to buy stuff, for crying out loud.

Footnotes

Footnotes
1 UPDATE: latest figures estimate that the increase may be more like 7%