Forecasting Folly
By Mike Adams There are not many of us around who remember “Black Monday”, October 19, 1987. It was the single largest percentage drop the market has ever seen. Following the drop, the pundits and gurus predicted it was just the beginning of a larger trend. At the time, I actually tallied up how many talking heads were pessimists and how many were optimists. When the count hit 35 to zero, I quit counting. The talking heads said the Fed would raise rates, and the economy was