The great thing about predictions is that once you make them they’re out there. They can be checked (if they’re remembered).

And so Bob Murphy does just that – goes back and looks at a Paul Krugman prediction about deflation and shows that PK was wrong. Bob does a great job discussing the issue and the prediction. I would just add two things: PK, please shut up; and: all macroeconomists, please shut up. You – macro dudes – can’t predict the future because what you’re doing is not even remotely close to science.

-JD Cross

Thanks to Don B for linking.