Random Observations for Students of Economics

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Don't trust anyone who can't see into the future

Posted on June 26, 2008

Bloomberg reports:[Senator McCain] has shown increasing disdain for any economist who questions his policy prescriptions. Earlier this month, he lashed out at critics of his proposal for a summer gas-tax holiday. You know the economists?'' McCain said June 12 at Federal Hall, near the New York Stock Exchange. They're the same ones that didn't predict this housing crisis we're in. They're the same ones that didn't predict the dot-com meltdown. They're the same ones that didn't predict the inflation that's staring us in the face today.''Fortunately, Mr McCain's crystal ball foretold all of the...

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inflation , tax