Good morning!Many thanks to Graham for his excellent report yesterday. I was mainly in bed, with mild man flu (OK, a cold!). I’d recovered enough by the evening to append some brief comments to Graham’s report, on IGR, IMO, and JSG. So here’s the link for yesterday’s slightly enlarged full report.I’m covering today’s news, so just one report here today. Graham might possibly append some comments of his own later, to this report.First off though, a little rant on economists amp; how useless most of them are.Economic forecastingI see that the latest UK PMI data has been very positive, again confounding all the gloomy economic forecasts. There’s an interesting article in today’s Telegraph, with the respected Chief Economist for the Bank of England, Andy Haldane. He admits that economic forecasters have (so far) got it completely wrong. Also, almost all economists failed to foresee the GFC (great financial crisis of 2008).Alastair Heath (an excellent financial journalist) has been saying similar things for a while now – i.e. that economics is a failing profession, unable to even vaguely forecast what is likely to happen in the real world.Sir Mervyn King has an equally damning opinion of economists, urging them to…
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