I used to think Tom Blumer of BizzyBlog ‘fame’ was just really bad at making economic predictions. Which is, of course, quite true. But today I discovered that this is not the whole picture.
Today I discovered that there is an actual reason behind his profoundly poor prognostication. And I feel obligated to share my new found knowledge mainly because other people actually take his advice in this area.
It turns out that every prediction Tom Blumer makes is based very little on actual economic facts and a whole lot on how he sees those facts through the lens of his political views…
Back in 2007 while Bush was still President, Tom Blumer proudly proclaimed that we had escaped the recession all of those silly economists had been predicting. And as all of the actual evidence continued piling up against his proclamation, he continued to deny we were in a recession all the way through December 2008!
Then, slowly but surely, the recession that didn’t exist under President Bush became the horrible Obama, Pelosi and Reid recession. What a strange coincidence that his ‘analysis’ suddenly changed right around the same time as we changed Presidents.
So now it’s another year later and we still have a Democratic President. And Blumer’s response to any and all positive news about the economy or positive predictions from actual economists is again complete denial. Except now he denies that we are recovering from the recession – the recession that he never believed was approaching – the recession that he was still denying existed years after it had officially started.
The trend here is pretty clear: Blumer’s earlier analysis was based solely on the fact that he didn’t want the recession to be blamed on a Republican President. And his current analysis is based solely on the fact that he doesn’t want the recovery to be attributed to Barack Obama.
If this was any other righty blogger I wouldn’t even bother mentioning it. But Tom Blumer runs a company that helps provide people with financial guidance. Seriously. His company offers “workshops on money management, retirement, and investing.”
Given Tom’s record of putting politics ahead of real economic data, the fact that people actually take his advice amazes the shit out of me. And I feel very sorry for all of the people who listened to Tom’s advice. I hope they can finally figure out a way to pay for all of those properties they bought in North Las Vegas last year when Tom told them the economy was ready to rebound.
Or at the very least, they can recover the fee they paid for Tom’s workshop.