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Forbes predicts gloom and doom for concert industry

9:33 p.m. · January 30, 2009 · by Tony Sclafani

If there's anything this latest recession has taught us, it's that predictions from the financial industry need to be taken with a truckload of salt. Back during the glory days of 2005, precious few of the high rollers or money honeys seemed to notice economic disaster on the horizon -- even though that's what they were supposedly paid to be looking out for.

Now the situation has reversed itself. So many financial types got called out for being oblivious that nobody seems to want to miss a negative trend (which is, of course, causing more fear and thereby causing the recession to worsen).  Forbes magazine recently pulled out its crystal ball to conjure visions of the concert industry come this summer and wouldn't you know it, they see all doom and gloom. They cite ticket "layaway plans" as evidence.

Oh well. But before you get freaked out at visions of empty clubs and teary performers, remember how accurate the predictions of the past few years were. [Forbes via: The Daily Swarm]