I have come to realise that my 5 year old daughter has more of a chance of accurately predicting what the Rand will do next, if I blindfold her, and let her flip a coin marked “up” on the one side and “down” on the other side, than the average economist. It must be wonderfully reassuring to be able to find work, making predictions, and no matter how wrong you are, you never lose your job!

That is essentially what economists do and the only thing that they seem to be very good at, is never getting the predictions right! If they say the Rand is going to go to R10,00, you almost know it is on its way to R6,00 and an awful lot of people must have lost a fortune exchanging currency, particularly the Rand, over the last 10 years based on what economists predict will happen next.