Back in 2010, I shared a remarkable graph comparing the predictions of economists to what actually happened.
Not surprisingly, the two lines don’t exactly overlap, which explains the old joke that economists have correctly predicted nine of the last five recessions.
It’s not that economists are totally useless. It’s just that they don’t do a very good job when they venture into the filed of macroeconomics, as
- Why won’t the White House explain how off-budget ObamaCare money got spent? Ed Morrissey 14 minutes ago
- Are bans on high capacity magazines constitutional? Jazz Shaw 1 hour ago
- Quotes of the day Allahpundit 13 hours ago
- EPA exonerates Christie administration in obscure bridge-related offense someone made up Mary Katharine Ham 14 hours ago
- California energy companies are getting the heck outta’ dodge and moving to Texas Erika Johnsen 14 hours ago
- CNN poll: 58% oppose abortion in most or all cases Ed Morrissey 15 hours ago