Thursday, February 26, 2009

No Big Deal!

On a not-entirely-unrelated note, would Mickey pass up the opportunity to troll through someone else's archives and smugly re-post a forecast that has turned out hilariously awry? I don't think so. A Kausfiles Klassic from all the way back in August 2007:

Is there any reason to think the overall poverty numbers have gotten worse over the past year? Not really. We're not in a recession. ... No doubt the Center for Budget and Policy Priorities will come up with more sophisticated ways to make the mildly encouraging report seem like bad news. ... P.S.: Remember, when comparing the Bush numbers with the better numbers Clinton achieved at the end of the last decade, that the last part of the Clinton boom was based on an evanescent bubble. The current recovery is slower but presumably more solid. [You think the current mortgage mess/housing bubble isn't as big a deal as the bubble?--ed I think that.]

I would italicize the sentences that turned out to be flagrantly wrong, but, well ...

[What, you don't remember the dot-com bubble wiping out the nation of Iceland, or that time we had to nationalize, or how Silicon Valley venture capitalists securitized their lending to internet start-ups and then traded these instruments at a 30-1 debt ratio? -- ed. Look, the real villain here is the CBPP, afraid to tell America the truth: that everything is just fine.]

But hey, the man does know his Supporting Actress favorites, so he's got that going for him.