Wednesday, January 25, 2017

Paul Krugman = sad!

Do you remember when the former Enron adviser said the markets would "never recover" from Trump's election?  Twitchy: "This Paul Krugman-related shot & chaser is one for the ‘prediction fail’ time capsule."

A Krugman prediction is like the economic version of the Gore Effect: the exact opposite is likely to occur.

3 comments:

Anonymous said...

Viking Pundit, January 25, 2017:
A Krugman prediction is like the economic version of the Gore Effect: the exact opposite is likely to occur. (Headline: Dow Races Past 20K in Reinvigorated Trump Rally)

Viking Pundit, March 6, 2009:
WSJ: "Obama's radicalism is killing the Dow." Investors don't like what they see.

They may have changed their tune. Stock market investors got a 235% return between March 6, 2009 and January 20, 2017.

Everybody makes wrong predictions sometimes, from Nobel winners to the bloggers who reflexively hate them.

P.S. Paul Krugman's prognostication record puts him pretty high up on the punditry pyramid. A lot higher than all those links you've got on the righthand side of your page. And a million miles above whatever nudnik thought up the phantasmal "Gore Effect."

Eric2 said...

Don't I feel foolish. I'll have to hand in my Nobel Prize, the one they hand out as participation trophies as long as you have the right philosophy.

Anonymous said...

Oh, that one-sided Economics Nobel, awarded to Paul Krugman and Milton Friedman, to Joseph Stiglitz and Robert Lucas.

If there were a Nobel Prize for Whining, the committee would be obliged to break the medal up into 10,000 pieces. And then conservatives could whine some more about having to share.