This week’s story isn’t about how we often want to send the market commentators with their false crystal balls to the chopping block, although fortunately, Chew On This has been more right than wrong since its inception a year ago.
On Feb 2, Pennsylvania’s most famous groundhog emerges from his burrow to declare how long winter will continue — a different form of reading the tea leaves. This year, Punxsutawney Phil made his prediction after crawling out on a cold Wednesday morning, seeing his shadow and declaring that there would be six more weeks of winter. He was probably not referencing the Crypto Winter, which was starting to take root then.
Phil is arguably better at predicting this natural phenomenon than Paul the English Octopus (who was successful only in the 2010 World Cup) or even poor Rabio, his Japanese cousin, who was quite good at predicting the results for Japan’s World Cup exploits but was unfortunately given the chop and turned into sashimi.
