“I told you this would happen…”, seems to be the battle cry from most Financial “Hacks” out there (at least the talking heads that have been appearing on various news outlets for the past few months). “I predicted this would happen 2 years ago…”, or whatever platitude they spout is their self-agrandizing statements.
I Predicted It Too!
Yes, I will even state that things were going to go bad as early as 5 years ago, so I must add myself to the growing list of folks who “… knew this was going to happen…”. I have been saying all along that the whole financial system was going to go in the tank, and I can find postings that said that!
The truest statement from all this rhetoric is this, “Economists and Financial Pundits have predicted 14 out of the past 3 recessions… “, (Anonymous).
I Predicted Other Financial Catastrophes Too!
Anybody who knows me, knows I have been predicting my lay off from my previous employer since about 2001 (so for the past 7 years, until I actually did get laid off), and sure enough I was right.
But was I? There were approximately 17 rounds of layoffs between the period where I started stating in dire terms how I was about to get laid off (how close I was to getting laid off during those rounds, I have no idea) and finally I landed in the “wrong place at the wrong time” and my predication came true. A sensible person might point out that my actual predication “percentage” is approximately 1 in 17 or about 5% to round it to a nice number, however, I eventually was RIGHT!
These Financial Pundits seem to think if they have stated something and it happens, they are experts, but if I state something relatively possible over and over again, it will most likely happen. This does not mean if I keep predicting I will win the Lottery and retire it will happen (but if it does, you read it HERE first!), but if I state that it will Snow in May in Ottawa, eventually one year it will happen (and I will be an Environmental Pundit with extraordinary intuitive powers!).
Give it a Rest, and Who Cares?
I really don’t care who predicted this financial mess, and I can’t see why anyone would be proud if they did (unless they managed to manipulate the stock market to make a fortune, in which case they most likely will get stoned in the Marketplace). Prognostication in any field of endevor is always at best “an educated guess”, but many time ends up simply being a “wild ass guess” instead.
Now, if someone would step forward and say they predicted that the Arizona Cardinals were going to be in the Super Bowl this year, now that would be an amazing prediction!
Leave the predictions to the Gypsies and their Tarot Cards and Tea Leaves, simply plan for the Worst and Hope for the Best is the way to go financially (in terms of prognostication).