Friday, March 2, 2012

I would have told you this would happen

Back in 2009 I expressed the opinion that every economic policy of the then-new Obama Administration was pretty close to the opposite of what was needed to restart the economy.  The policies at the very tail end of the Bush Administration, during the interregnum of late 2008, weren't any better.  Perhaps I could round up eyewitnesses, but there is no hard evidence of my warnings.  After all, I was a Fed economist at the time and it was (and apparently still is) considered ungentlemanly to publicly and roundly criticize the Administration, no matter how incompetent its policies.  Besides, the Fed, which pretty much surrendered its independence to the Treasury in late 2008, hasn't been a bastion of competence itself (see here, here, and here).

At any rate, if I had been able free to speak my mind then, you would be hailing me now for my prescience, so feel free to hail away.  James Pethokoukis has "The Economic Case Against Obamanomics in 13 Charts".  If a picture is worth a thousand words, these charts have saved me from having to write the case in 13,000 words.