Record of awesome wrongness (krugman.blogs.nytimes.com)

It's a more general problem with economic pundits: there is no real accountability that their predictions be any better than coin tosses. Sometimes, you can just confidently make whatever prediction is most politically suitable for you. Other times, the best thing to do is to make bold predictions of any kind without much evidence, because occasionally you'll be right and look like a prophet.

One of the comments on this article referred to this long but very insightful article.

http://www.truth-out.org/goodbye-all-reflections-gop-operati...