Astrology, tarot cards, tea leaves, etc. have now been replaced by: scenario modelling, data-mining and a lot of computation & analysis. However I can help but think that this is still similar to palm reading and its ilk. Why? Well, it still uses one critial part of the system that is fallable... the human component!
Although a single human may be considerably inaccurate at predicting the future (Old Moore, Nostradamas, etc.), is a collective group of humans any good at guessing what happens next? Well, on the basis of the recent financial crisis, it would seem not
The recent USA Presidential Campaign was