Last November he claimed the economy was actually quite strong and growing. He predicted we would avoid the coming recession and see strong job growth in 2008.
A a new report says the US economy has been in a recession since last December. Right around the same time Tom was making his predictions.
And how does Tom Blummer respond to this report?
Instead of admitting he was wrong and moving on, he attacks the report and the people who produced it, the National Bureau of Economic Research.
According to Tom, the NBER is “officially full of crap, and should once and for all become a national laughingstock” because their definition of a recession isn’t the same as “the normal people definition” of a recession.
It’s so weird because I was just about to say exactly the same thing about Tom.