slump: It happens when the storm is about to break, according to The Guardian. Back in 2008, the Bank of England failed to predict the biggest postwar slump in the UK's history even after it had started. That is true not only in the years before a severe downturn. This less than impressive record should act as a cautionary note in the current circumstances when the 10th anniversary of the collapse of Lehman Brothers has generated a thriving cottage industry devoted to predicting when the next crisis will occur. Meteorology has improved in the past 40 years, economic forecasting has not. The honest answer is that nobody really knows.
(news.financializer.com). As
reported in the news.
Tagged under slump, years topics.