Do Not Rely on Economic Forecasts

It amazes me how much free space and airtime global media gives to economists and their economic forecasts.

What is particularly amazing is how inaccurate these forecasts are.

In Australia, every quarter, economists attempt to predict the percentage rise or fall in inflation. Even this simple idea cannot be predicted accurately. There are wildly inaccurate predictions.

If economists cannot get this number right, how can they predict global activities over the next 1-5 years, as they pretend to do?

Their predictive attempts are like sports commentators trying to predict the score progression in any match, score by score. It is a nonsense!

My point is this: how much time do you spend reading such forecasts, predictions, guesses? Are you wasting your time? Observe your reactions when you read such forecasts, and decide whether you are gaining enough value for the probably waste of your more valuable time, when you could be reading much more useful material.

Become more conscious and aware of why you choose to read nonsensical predictions.

My guess about why the media publishes the forecasts is that they need something apparently scientific or professional to regularly fill their spaces. The media particularly loves bad news, because bad news sells more newspapers than good news. This is a proven fact.

Choose to do your own thinking.

A BLOG BY CHARLES KOVESS©

Should We Have Drug Injecting Rooms?

I believe we should have legal drug-injecting rooms.

I do not take illegal drugs: never have, never want to.

I do drink alcohol (love it!) and I am addicted to coffee. I have 6 cups a day, much to the shock of my naturopath. I have some idea of what it means to be addicted to something.

I am also addicted to the natural high of daily exercise, and I have competed for the past 26 years continuously in triathlons. This also means that I train in swimming, cycling, or running almost every day, and have done so for a very long time.

Drug addicts can be wealthy or poor. The evidence from the media over the years shows quite clearly that the price of drugs is artificially high because of their illegal nature. Many poor drug addicts are in our prisons because they had to steal or lie or cheat to get the funds to have their ‘hit’.

If we had injecting rooms, the need for such illegal behaviours would disappear. Our prison population would reduce. It costs over $150,000 pa to ‘house’ one prisoner. This waste of Government funds is ridiculous, when hospitals and schools and universities are being starved of funds.

The arguments against injecting rooms seem to revolve around the idea that such rooms ‘encourage’ usage of drugs. I disagree that it would have this result.

Politicians also appear to be ducking for cover because they believe community feelings are against addicts and so support for injecting rooms will cost votes.

I am blogging about this issue because I challenge you to get clear on your opinions and beliefs on this issue. Illegal drugs are impacting greatly on Australia’s future: the younger generations are being significantly harmed by the disturbingly large availability of illegal drugs.

I believe that the easy availability of drug-injecting rooms would reduce our illegal drug problems!

 

A BLOG BY CHARLES KOVESS©