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by pessimizer 3989 days ago
> Inflation and interest rates will remain low in in spite of stimulus and QE (many times).

You're actually aware of a non-Keynesian who predicted this?

> Semi-prediction of a housing bubble (August 2002)

> The economic slowdown could last 5-10 years and cost trillions of dollars (June 2009)

And your claim is that these were easy predictions that everyone got right? I can accept that they were easy predictions...
1 comments
yummyfajitas 3989 days ago
Scott Sumner predicted the former as did most of the market monetarists.

Another great Scott Sumner prediction: fiscal austerity hurts if you lack an independent central bank, but not if you don't (directly contradicting new style Keynesians, e.g. Krugman). The results: http://www.themoneyillusion.com/?p=29692

Various ideological enemies of Krugman predicted the housing bubble, and far more clearly than Krugman; Ron Paul, for example, argued against the creation of a housing bubble in 2001. It's hardly clear to me that Krugman even predicted it. From your article: "To fight this recession the Fed needs more than a snapback...Alan Greenspan needs to create a housing bubble to replace the Nasdaq bubble." The wording is ambiguous, but to me it sounds less like a prediction and more like advocacy.

A few years back I was a solid structuralist, but the monetarists have a really good track record of disagreeing with other people and coming out right.

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pessimizer 3989 days ago
Calling the market monetarists ideological enemies of Krugman seems like an exaggeration. He's linked to and cited them favorably a lot (although he has basic disagreements with them.)

> Various ideological enemies of Krugman predicted the housing bubble, and far more clearly than Krugman; Ron Paul, for example, argued against the creation of a housing bubble in 2001.

Any examples that are economists?

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