Jake's View | Flawed forecasts from fiscal working group defy laws of the universe
Fiscal group's inflation figures fail to account for temporary anomalies that will self-correct
Advisers warn of Greek-style debt meltdown
Me, I happen to live on the third planet in orbit around a minor star called the sun in the Orion arm of the Milky Way galaxy. Where these advisers live I haven't a clue.
Hong Kong like Greece? The most Scrooge-like savers on earth compared to some of the greatest wastrels? We run consistently large fiscal surpluses and have net fiscal savings almost as large as our annual gross domestic product.
Yet we are told that we are on the brink of a fiscal crisis. What world indeed do these scaremongers inhabit?
There are indications … that the pressure on construction materials prices will ease soon
But, speaking of things Greek, my interest today lies in an Achilles' heel they exposed when venturing to provide some statistical background for their messages of doom - specifically the forecasts, on which their prophecies rest - of various measures of inflation up to the year 2041.