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In this quote, Rupert Murdoch is making a joke at economists’ expense. He’s suggesting that economists, unlike weather forecasters, are often wrong in their predictions. Murdoch implies that economists don’t have a very good track record of accurately forecasting economic trends and outcomes.
His comment seems to be lightheartedly pointing out that economists are not always right and can be fallible in their analyses and projections, just like any other field of study. Overall, the quote appears to be tongue-in-cheek commentary on the imperfect nature and limitations of economics as a predictive science.