Which pundit made this hilariously inaccurate prediction a little over a decade ago?

Discussion in 'Economics' started by Cutten, Jun 14, 2009.

  1. And what was he or she talking about?

    "Never in the course of economic events—not even in the early years of the Depression—has so large a part of the world economy experienced so devastating a fall from grace....we could be looking at the kind of slump that 60 years ago devastated societies, destabilized governments, and eventually led to war."

    Currency controls were advocated by this pundit as the only way out of the morass. A free beer to whoever identifies the pundit, and a free bronx cheer for anyone who guesses whether his radical prescription was implemented, and whether the situation resolved itself regardless.

    P.S. you fail if you google this
     
  2. ya, don't google it, bing it
     
  3. I had to look it up. No surprise in who said it.
     
  4. peter schiff
     
  5. a famous nobel prize :cool:
     
  6. I'm thinking that's Krugman talking about the Asian crisis of 97/98. IIRC, he was predicting absolute chaos and outright war if the little tigers didn't take his prescription for "reform" - none did - within 2 years every single one of them had recovered.