Paul Krugman visits Japan, evaluates government policies

Yes right, but if this guy was a mind reader he wouldn’t get a lot of customers.
If he is so good, why isn’t he the finance minister of his own country?

@Andrew: Really? If every year someone told you there was a tsunami coming and was only right a tiny fraction of the time, you would consider that helpful? If a weather forecaster told you there would be tornadoes every week, would you really go to him for weather advice? Sure, he might be right a couple times a year, but the rest of the time the sun is shining and you’re hiding in your basement.

In the world of finance, being bearish in a bull market will lose you money just as surely as being bullish in a bear market. The key is to be correct more than half the time. Krugman does not have such a track record.

Twenty years ago he was a serious economist who wrote scholarly papers about rather arcane aspects of the financial system. The fact that it took the Nobel committee twenty years to recognize Krugman’s work gives you a hint as to its minor importance.

It’s been a long time since Krugman has been a serious economic scholar. He’s a columnist and pundit now, living off his reputation. But as I said before his track record of predictions in the last decade is less that 50% accurate, so you are literally better off flipping a coin or as I said above, consulting Pan-kun.