Macroeconomists: "We still don'e know what we're doing"

Marginal Revolution: Has a fascinating but very 'Economics inside pool' post on what has happened to our recovery. Unsurprisingly he puts a central emphasis on confidence and agrees with Schumpeter that stimulus just changes the dates, not the outcomes of the economic cycle. His most profound point is his last: "We still don't know what we're doing". Erm, this seems to be a rather central point, given our 'economic managers' are madly pushing buttons and twirling dials with the utter conviction that they are 'making a difference': "given you boys don't know what you're doing, should you be playing with the machinery like that?". I'm just sayin'.....