Paul Krugman asks why pundits that get things wrong still get asked for comment. Alex Tabarrok offers an answer that has a lot of merit. But there's another reason that partly explains it, which is that all pundits have made some fantastic bloomers in their time. Paul Krugman has been predicting imminent recession with . . . er . . . depressing regularity since George Bush got elected; I doubt he thinks he should have had his column pulled the first time his prediction didn't pan out.
That said the National Association of Realtors employed the wrongest economist ever, David Lereah, to say things about the housing market that an eight year old child who didn't speak English could have seen through. They are now running ads saying that housing is an awesome investment. Someone should sue them for fraud.
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