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Economists have allowed themselves to walk into a trap where we say we can forecast, but no serious economist thinks we can.

I never understand why 'economist makes forecast' is ever a headline. Whether the economist in question is from the International Monetary Fund, a City forecasting group or the Treasury - a forecast is still not news.

Economic forecasting has actually got pretty good over the years, though admittedly, we don't always get it right.

I have spent too long being able to manipulate the answers I want from market research to rely upon its findings any more than I do weather forecasts.

An economist is an expert who will know tomorrow why the things he predicted yesterday didn't happen today.

Would you bet your paycheck on a weather forecast for tomorrow? If not, then why should this country bet billions on global warming predictions that have even less foundation?

People today don't become economists to make the world a better place.

I think the association of economics with forecasting is unfortunate and is down to the fact that one great way to get an investment bank's name on business television is to hire a guy called a Chief Economist who will go and prognosticate.

If you have to forecast, forecast often.

The good news is that economists are intelligent, engaging and often charming folks. The bad news is their work is often of little use to investors.