Breitbart Business Digest: How Breitbart Got Inflation Right When the ‘Experts’ Got It Wrong

G.K. Chesterton once said that he owed his success to having listened respectfully to the very best advice, and then doing the exact opposite. This is how we have felt over the past year and half while the vast majority of establishment economists consistently were wrong about inflation. They forecast that inflation would stay mild, that it would stay confined to a few things related to passing shortages and the reopening, that it would prove transitory, and that it had peaked. We consistently argued that this was nonsense and predicted inflation would keep rising. There were, of course, some establishment types who got things right (and plenty of heterodox economists, especially on the left, who were as wrong as the establishment types). Larry Summers, Oliver Blanchard, Jason Furman—all thoroughly establishment and left-of-center—predicted higher inflation or warned that it might prove more persistent than the rest of the establishment—including Federal Reserve and Biden administration officials—were forecasting. How exactly did we get it right? The answer is not as complicated as many of those who are now re-assessing their errors suspect. The economic recovery was well under way in 2021 when the Biden administration took office. The unemployment rate, for example, had… Read full this story

• BUSINESS NEWS HEADLINES MAY 3
• 'Trolls could sow chaos' with NHS coronavirus tracking app: Experts warn there's NOTHING to stop people lying to program and say foreign spies could shut down entire cities with false reports
• Business owners who care for Washington's powerful now look to them for survival
• Coronavirus Update: Experts Expect A Slow Return Of International Visitors To San Francisco
• Hillsdale College K-12 Expert to Parents Teaching Children at Home: ‘You Can Do This’
• From 'ultra-violent lights' to 'Farmer John cheese': Embarrassed adults admit the words and phrases they've been saying WRONG their entire lives
• The Right-Wing War on Lena Dunham
• Fact check: Trump falsely suggests he was right when he predicted 'close to zero' virus cases in February
• Where did it go wrong for Britain on coronavirus?
• If Sweden is so wrong to keep pubs open why is its health chief's face the tattoo everyone wants? ASKS IAN GALLAGHER

Breitbart Business Digest: How Breitbart Got Inflation Right When the ‘Experts’ Got It Wrong have 353 words, post on www.breitbart.com at July 23, 2022. This is cached page on NGHONG. If you want remove this page, please contact us.