New self-coined word used to describe the self proclaimed wisdom of all the present day pseudo-economists. They have 100 bogus reasons for what just happened, and just as many for what didn't happen. Kind of like watching sports announcers, during a game, hamming up the leading team and acting like they knew what was going to happen all the time--when they didn't have a clue.
I get so tired of reading all the so-called "experts" on the economy, when in reality it is all just econobabble.
by Guido1 April 2, 2008