Monday, March 12, 2012

But Zandi ISN'T right!

The Plum Line at the Washington Post is a column I regularly enjoy reading. Even when I disagree with the content--which is the case, more often than not--I find Greg Sargent's writing to be good and his analysis sound, insofar as it's thoughtful and not full of inconsistencies. Today's column is an exception. In it, he discusses an interview by Luke Russert with economist Mark Zandi:

Asked by Russert if he thinks the Stimulus worked, Zandi says:
I think it was a success, yes. It ended the recession. It jump-started the recovery. It’s not a source of long-term economic growth. It was never intended to be. But it did what it was supposed to do.
Sargent allows that Zandi statements have become something of a joke among economists and pundits of a more libertarian or conservative bent, but argues that this doesn't mean Zandi isn't right. And that's because? Well, we don't get in answer in that regard, we're just supposed to assume he really is right.

I've discussed Zandi before. He's the chief economist at Moody's Analytics, so I guess he must be able to do what needs to be done in that role, but this doesn't mean he's exempt from being called to the carpet for his ridiculous statements. And it doesn't mean he should be taken seriously, when it comes to economic policy. MSNBC--being the official media outlet for MediaMatters--like to call on Zandi, since he tends to credit the Administration as a matter of course (looks like he's jockeying for a position, in my opinion). But his past comments indicate that he shouldn't be taken seriously when he gets on TV. A link to John Tamny's article is once again apropos:
Filled with a false sense of grandeur for reporters even more clueless than he is hanging on his every false word, Zandi continues to utter hideous economic proposals that misinform the average American, and worse, make the average American exponentially worse off to the extent that an even dimmer political class buys into his wholly discredited notions about why people produce.
Yep, that about sums it up for Zandi.

Cheers, all.

1 comment:

  1. I had never considered the jockeying for a position thought before, but I think you may be right. His thoughts fit right in with the whole CNBC to hell with the facts, let's re-elect BHO mem.