Joe Posnanski Quotes
Every day I make predictions that don't come anywhere close to the mark.
Posnanski, Joe. Joe Blogs.
He is absolutely right, but unfortunately made this statement several years after he served as the Fed Chairman. He never made a statement like this when he and his colleagues made their policies based on their economic forecasting. Central bankers have generally felt that one of their jobs was to give the people confidence in the nation’s banking system and economy and the admission that much policy making was based on “coin toss” forecasting.
He was the leader of the team that followed to invading troops into Iraq to find the nuclear and other WMDs that the CIA had said were deployed and ready to be used. They found none. Worse for the CIA, there were not even any development programs ongoing. The CIA Director was furious with Kay for admitting the CIA gross error. Kay was given minor assignments thereafter even though he was the best WMD analyst we had.
Despite this reality, most politicians, if they have the resources and high enough position, surround themselves with experts to advise them and then listen to them to take positions in campaigns or advise them on policy making if they are in office.
Joe Posnanski is an American sports journalist. A former senior columnist for Sports Illustrated (where he wrote a blog, Curiously Long Posts) and columnist for The Kansas City Star, he currently writes for The Athletic and his personal blog, JoeBlogs.
