Thursday, May 09, 2013

LAFFER, KUDLOW, GLASSMAN, PETHOKOUKIS, BECK AND NOW FERGUSON

(h/t DougJ)
Niall Ferguson has unofficially joined other well-known conservatives who are economic hacks. Here's the evidence for this distinction:
- His most spectacularly incorrect call came in in the Summer of 2009, when he took a victory lap, proclaiming that since interest rates were rising, he was correct that the bond vigilantes were rebelling against the large stimulus and historic deficits.

-Then in May 2011 he wrote for The Daily Beast about "The Great Inflation Of The 2010s."

-In February 2010 he predicted a Greek crisis was coming to America.

-And in June 2009, he predicted a painful conflict (imminently) between monetary and fiscal policy.
And, he was more mistaken about J.M. Keynes than I knew (h/t Avedon):
(Thanks to commenter CMike for reminding us of Keynes 1930 essay "Economic Possibilities for Our Grandchildren" [.pdf].)

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