Wednesday, 28 March 2012

Bank of England Modelling Madness

Anybody who fancies a laugh should have a read as to how the Bank of England constructs its policy and forecast models.

Scary stuff.

It appears to me as a way of creating policy that tries and alters the world to fit the model - regardless of the effects that has on real people.

The Aztecs ended up with human sacrifices trying to please their 'Gods' with that thought process.