Joe Biden told "This Week"
that the Obama administration "misread how bad the economy was"
He also [said] the administration made this mistake
because they just looked at the consensus forecasts at the time
...and they proved to be wrong
Biden: We Blew It On The Economy
The Business Insider, July 5, 2009
Can thought be controlled by repeating positive messages
while underreporting negative and vice versa?
If there are at least 15,000 professional American economists
and less than 1% foresaw the financial crisis
could many economic prognostications be relatively useless?
There is no question we did not recognize the severity of the problems
Al Hubbard
Former White House chief economics adviser
No comments:
Post a Comment