Cochrane is wrong, again!

Check out this blog post by The Dismal Political Economist on the absurdity of John Cochrane who got it wrong on inflation and fiscal policy in the US. He takes a beating from Paul Krugman and Brad DeLong. Even with such a bad track record, Cochrane et al will stubbornly continue to convince themselves that they are right. That's what happens when you have economists who behave like politicians.