There is a big difference between forecasting future events based on sentiments and understanding current events leading to the eventual outcomes that may or may not happen. The former is the expertise of a soothsayer. The latter is the province of a realist.
A soothsayer is a diviner, a prophet and a seer who paints a very rosy picture of an uncertain future in the present economically challenging times. He is a diviner par excellence. For him, anything and everything in the economic sphere can make a rebound even in economically hopeless times. Based on past economic experience, he feels things and events can become better economically. But he forgets that there is always a first time for everything in the economic sphere too. And this first time for everything on the downturn of a global economy can drag for sometime. The drag can even worsen rendering him jobless as nobody is going to listen to his forebodings anymore.
A realist, on the other hand, takes stock of what is happening at the present moment and tries to understand the REAL causes that led to these effects in the global economy. He is a wise analyser who doesn’t rely on his whims and fancies or least of all, his feelings. He doesn’t play to the gallery of fools comprising nitwit politicians, greedy businessmen, bankrupt nationalists, etc. He is staid in analysing things and events unfolding on the economic front to their eventual fruition relying on past experiences using logical, tried and tested solutions. He doesn’t rely on gimmickry and feelings like soothsayers do.
If it is required, he will contribute his findings, which are based on causes and effects, to help stem the growing tide of economic duress. He never ever depends on sentiments or the “feel good factor” at all.
Although his analyses of causes and effects are based on tried and tested economic laws that have been successfully implemented in other economies in the past, he is still a cautious analyst as he knows very well that there may be a first time for everything in the economic sphere of things.
Today, there are many soothsayers masquerading as business analysts, economic analysts, financial analysts, political analysts, etc. As global economic events tear away all their analyses and predictions for the future, they stand stripped fully-naked for the whole world to see them in their true forms.