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Barry Ritholtz

Forecasters Keep Trying to Predict the Future

The truth is hard to face. No one knows what's going to happen.
That doesn't look so bad.

That doesn't look so bad.

Photographer: Florian Gaertner/Photothek/Getty Images

The McKinsey Global Institute has just released a new report with the following gloomy prognostication:

This report does one of the things I like least: It makes a forecast.