Every day there are legions of new economists who dismiss the Donald Trump economic agenda and his forecast of 3 percent growth as a wild-eyed fantasy. The consensus is that the economy “can’t possibly grow at 3 percent” says The Wall Street Journal. “Slow growth is the new norm, so get used to it,” writes Rucir Sharma, Morgan Stanley, chief global strategist at Morgan Stanley in Foreign Affairs magazine this month.
Question: Why does anyone bother to listen to economists anymore? The profession has become an embarrassment and the most respected economists have shown themselves to have as much predictive power on where we are headed as the gypsies who read tarot cards.