The path to highly paid mainstream punditry superstardom, whether in politics, economics, or foreign policy, is to be consistently and egregiously wrong. Bill Kristol will no doubt end up in the Mainstream Pundits Hall of Fame. From Pater Tenebrarum at davidstcokmanscontracorner.com:
Bill Kristol – the Gartman of Politics?
It has become a popular sport at Zerohedge to make fun of financial pundits who appear regularly on TV and tend to be consistently wrong with their market calls. While this Schadenfreude type reportage may strike some as a bit dubious, it should be noted that it is quite harmless compared to continually leading people astray with dodgy advice.
These people should surely be considered fair game. Besides, following their multiple blunders is sometimes actually quite funny. The above depicted Dennis Gartman has become a favorite target, possibly due to the rather odd way in which he expresses himself (he sounds a bit like a time traveler who got lost, or a visitor from another planet). We don’t know if his wrong-way forecasts are cherry-picked, but if they are not, then he is truly a noteworthy phenomenon.
Most people are probably aware though that market predictions are usually not much better than flipping a coin anyway (a tip for aspiring pundits: when it comes to stocks, the safest course is to be always bullish, as the stock market historically rises 67% of the time). Arguably, some prominent political pundits should be considered more dangerous, especially if those who like beating the war drums.
We were quite astonished to find out that numerous pundits who came out in strong support of the Iraq war and didn’t even get a single thing right about that particular statist misadventure, continue to enjoy an apparently unblemished reputation as “foreign policy experts” as if nothing untoward had happened. One of the better known ones is Weekly Standard editor Bill Kristol, a stalwart of neo-conservatism who has apparently never come across a hapless third world country he didn’t want to see bombed on account of it harboring the second coming of Hitler.
To continue reading: Getting Paid for Wishful Thinking—–Bill Kristol’s Addiction To Errors And Invasions
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