The Corner

Mark Zandi’s Abysmal Record

Mark Zandi of Moody’s Economy.com has been a media darling for the last three years, so much so that very few days go by without my reading one of his quotes about how the stimulus will create economic growth, how the stimulus is working, how the stimulus has worked, or how the stimulus created as many jobs as the administration said it would. 

He has been also very active on the Hill. For instance, he testified again yesterday before the Senate Budget Committee reopened the debate about whether the stimulus packages and other federal interventions have been effective. His written testimony is here. As expected, he explained that the Obama administration’s economic stimulus plan has been successful and helped prevent a second Great Depression.  

Now, there is a great list published today at “The Big Picture” tracking Zandi’s forecasting errors. It is quite an astonishing list of errors, considering how often his opinion is presented by the media and the administration as independent and reliable. As the author explains

. . . based on Zandi’s record, either his analysis is just wrong or his independence is compromised. Everyone seems to like to hear the guy who is saying what people want to hear, even the press appears to prefer “feel good” analysis to considering the accuracy of his record.

The whole thing is here. (Thanks to Tyler Grimm for the tip.)

Most Popular

Books

Jordan Peterson v. the Publishing Mob

Staff at Penguin Random House Canada have “confronted management” about the decision to publish Jordan Peterson’s book in an “emotional town hall,” Vice reports. Peterson’s Beyond Order: 12 More Rules for Life will be released in March 2021. Apparently, one “junior employee who is a member of the ... Read More
Books

Jordan Peterson v. the Publishing Mob

Staff at Penguin Random House Canada have “confronted management” about the decision to publish Jordan Peterson’s book in an “emotional town hall,” Vice reports. Peterson’s Beyond Order: 12 More Rules for Life will be released in March 2021. Apparently, one “junior employee who is a member of the ... Read More
Elections

To ‘Steal’ an Election

Dan has a good article on the homepage, the main point of which is that the system worked, since Trump’s efforts to reverse the election failed. Certainly I agree with him about that. But he also finds charges that Trump tried to “steal” the election “overheated.” Since I made such a claim myself, I ... Read More
Elections

To ‘Steal’ an Election

Dan has a good article on the homepage, the main point of which is that the system worked, since Trump’s efforts to reverse the election failed. Certainly I agree with him about that. But he also finds charges that Trump tried to “steal” the election “overheated.” Since I made such a claim myself, I ... Read More
Elections

It’s Only ‘Free and Fair’ When We Win

Indeed, this is astonishing: https://twitter.com/felixsalmon/status/1331295033325219840 In 2018, after two years of media spinning tales about shady Russian infiltrators in our government, 67 percent of Democrats believed that Putin’s gremlins had bored into our voting machines and altered the outcome ... Read More
Elections

It’s Only ‘Free and Fair’ When We Win

Indeed, this is astonishing: https://twitter.com/felixsalmon/status/1331295033325219840 In 2018, after two years of media spinning tales about shady Russian infiltrators in our government, 67 percent of Democrats believed that Putin’s gremlins had bored into our voting machines and altered the outcome ... Read More

The Coup That Wasn’t

Donald Trump is not done challenging the results of the 2020 election in court, and he is by no means done complaining. But there will be no “coup.” Any prospect of Trump remaining in office without a legal process that declares him the recipient of more legal votes in the decisive states has now evaporated. ... Read More

The Coup That Wasn’t

Donald Trump is not done challenging the results of the 2020 election in court, and he is by no means done complaining. But there will be no “coup.” Any prospect of Trump remaining in office without a legal process that declares him the recipient of more legal votes in the decisive states has now evaporated. ... Read More
Film & TV

Hillbilly Elegy: Ron Howard’s Inverted Mayberry

Hollywood knows two registers when it comes to the white working class (WWC): sentimentalizing and condescending. WWCs are either cute, neighborly, and folksy, or they constitute a tawdry, alien life form. There are 130 million WWCs in our country, and yet nobody in Hollywood has the slightest grasp of them. With ... Read More
Film & TV

Hillbilly Elegy: Ron Howard’s Inverted Mayberry

Hollywood knows two registers when it comes to the white working class (WWC): sentimentalizing and condescending. WWCs are either cute, neighborly, and folksy, or they constitute a tawdry, alien life form. There are 130 million WWCs in our country, and yet nobody in Hollywood has the slightest grasp of them. With ... Read More
Elections

About That ‘Broken Algorithm’

Of all the loopy assertions made at the press conference President Trump’s legal team conducted last Thursday, the one that has been most roundly derided is the since-ousted Sidney Powell’s claim that the national popular vote was such a landslide for President Trump “that it broke the algorithm that had ... Read More
Elections

About That ‘Broken Algorithm’

Of all the loopy assertions made at the press conference President Trump’s legal team conducted last Thursday, the one that has been most roundly derided is the since-ousted Sidney Powell’s claim that the national popular vote was such a landslide for President Trump “that it broke the algorithm that had ... Read More