It’s Monday, and Robert Samuelson of the Washington Post has noted what Doomers have been saying for years- most economists don’t understand the economy:
One intriguing subplot of the economic crisis is the failure of most economists to predict it. Here we have the most spectacular economic and financial crisis in decades — possibly since the Great Depression — and the one group that spends most of its waking hours analyzing the economy basically missed it. Oh, a few economists can legitimately claim some foresight. But they are a handful. Most were as surprised as the rest of us.
Samuelson can speak for himself, no one around here was surprised by the downturn. We’d like to know though, if there is anything today surprising, interesting, or of note. This is today’s open thread, so let us know what’s on your mind.
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Last I checked, the kool-aid was still flowing strong.