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Review of ‘The Sages’

The Wall Street Journal ranked 51 of the nation’s leading economic forecasters on the accuracy of their 2008 economic forecasts using two key statistics: 2007-2008 fourth quarter-to-fourth-quarter real GDP growth, and 2008’s ending unemployment rate. The actual change in GDP growth was -0.8 percent. Just one forecaster was in the margin of error; all the…

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