Oracles

The chairman of Morgan Stanley International said that the credit crisis is not near its end yet, not by a far shot. He said that, at the very earliest, it may end late in 2009 or in 2010.

See : http://www.demorgen.be/dm/nl/996/Economie/article/detail/385152/2008/08/18/Kredietcrisis-pas-ten-einde-in-2010.dhtml.

With all respect for the "prognosticational" capacities of this top banker, his opinion is not worth a s* from a scientific point of view. His opinion is not worth anything more than mine, or anyone else's for that matter - and I do not exclude the most inexperienced or stupid of our race !

Why can't one keep one's mouth shut when one has nothing to say ? Why is that one of the most difficult exercises for mankind ? This blog is a perfect exemple, but I do not influence financial markets with my elucubrations !

When I write that the banker's opinion is not worth a penny, I refer to the future confirmation or negation of his forecast, not about whether any money can be made out of such pronouncements.