Hi clo,
I think they take advantage of his abrasiveness to disregard his message.
But he's been on the money about the behaviour of the US economy for years.
Whereas the right wing economics has been completely unable to explain things during the recent crisis. You still hear folks talking about inflation and hyperinflation as if they were a logical corollary of Bernanke's monetary fixes to a deflationary economy in crisis. If Bernanke follows his QE policy, they said, this will cause the value of the US currency to collapse. I don't remember the scaremongers talking about a delayed fuse on their argument.
Rather than admit their mistake or to acknowledge the fact that QE actually helped stem the slump, these same folks now hope to extend their prediction to the recovery phase: hey, their prediction didn't suit the depressed environment in which they made it, but maybe it will come good some day. Seers!
But no one denied the possibility of some inflation during the recovery phase. Indeed, it might help a little bit.
Hell will freeze over before anyone will change their philosophy in the face of evidence to the contrary.
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