QandO Blog Echoes Don Luskin on Paul Krugman
From QandO (HT Willisms, who also has some election-related econ polling data; go to QandO for links to the statements):
….. consider the recent record of Paul Krugman.
- “right now it looks as if the economy is stalling…” — Paul Krugman, Sept. 20th, 2002
- “We have a sluggish economy, which is, for all practical purposes, in recession…” — Paul Krugman, May 29th, 2003
- “An oil-driven recession does not look at all far-fetched.” — Paul Krugman, May 14th, 2004
- “a mild form of stagflation - rising inflation in an economy still well short of full employment - has already arrived.” — Paul Krugman, April 18th, 2005
- “If housing prices actually started falling, we’d be looking at [an economy pushed] right back into recession. That’s why it’s so ominous to see signs that America’s housing market … is approaching the final, feverish stages of a speculative bubble.” — Paul Krugman, May 27th, 2005
Last week, Don Luskin was interviewed by Larry Kudlow on Kudlow’s CNBC show (YouTube here), and at the very end was asked for a response to Krugman’s latest gloom-and-doom offering. His answer was priceless: While the stock market has forecasted nine of the past five recessions, “Paul Krugman has forecasted nine of the last zero recessions.”
