Michael J. Boskin — former George W. Bush economic adviser, Hoover Institute fellow, and staunch advocate of conservative anti-tax doctrine — appears today, as is his wont, in The Wall Street Journal op-ed pages to warn that the Democratic president’s economic policies will lead us to misery.
If you are an investor, Boskin’s doomsaying is a sure sign of a coming bull market. Four years ago, Boskin penned a Journal op-ed whose thesis was captured in the headline, “Obama’s Radicalism Is Killing The Dow.” That was the signal for the Dow to go on a tear, doubling over the next four years. ...
One might suppose that Boskin has simply suffered a single unfortunate coincidence. In fact, his career is a mighty testament to the power of enduring, invincible wrongness.
Chait has all the details there, and it's pretty funny. I've noticed this before, how some people can be wrong virtually all the time, without it ever seeming to make much difference. Boskin still prognosticates in The Wall Street Journal, but you have to wonder why anyone would still pay attention to him.
Well, when you're faith-based, evidence doesn't mean a thing. You've got your dogma, and you're going to believe it no matter what. And the other people pushing that dogma simply aren't going to care what the evidence indicates. They already know what they're going to believe.