Economists have proven to be a pretty useless bunch lately - but only to us "small people".
Many of us think that the leaders of our two great parties call on the best and the brightest economists ( many of whom they used to smoke dope with in the Ivy league)to help them direct the huge economy and make the SP feel bigger.
The leaders of the big 2 know that if you look long enough you can find an economist who will predict anything and will provide justification for just about any policy.( although there are a large number of economists who are now revealing that they knew what was going to happen prior to it happening).
The Dems,academics,Greenies and Kumbaya crowd love Keynes who I think said 'if things are bad- spend more money'. This means more vote buying ,dependancy creating,agency spawning,political debt paying,worthless research funding and other job creation for the faithful.Paul Krugman is the new bearded face for Keynes, and he hasn't ever said anything that I can believe.
The GOP,Wall Street,moneyed war monger crowd love the Supply side economists who I think say ' if things are bad, reduce my taxes, I'll spend the money and you guys can fight over it'. This theory supports more wealth and power for many and the hope of more wealth and power for the rest of the faithful(many now unemployed). Art Laffer is the leading supply sider although I have trouble believing someone with hair that has darkened since the Reagan administration.
I think the SP need their own economist.