Ed Driscoll

Always Expect the Unexpectedly

In early March, Ryan Cole and Amity Shlaes wrote at National Review:

One of our problems today is that politicians are unwilling to concede certain truths about the economy. One is that housing prices may fall more. Another is that government intervention will inevitably force upon us a period of inflation.

Robert Samuelson in the Washington Post, painting the rosiest-possible outlook on the Obamaconomy apparently didn’t get the memo:

Although a recovery — as defined by academic economists — started about two years ago, it hasn’t felt like one. Of the 8.7 million payroll jobs lost in the recession, only 1.8 million have returned. The recovery rivals the slowest since World War II and faces continued threats. High oil prices. Europe’s debt crisis. Unexpected inflation. Washington’s bickering over the federal debt ceiling. All true.

As one Insta-reader asks, “What does it say about the Washington Post, that its economics columnist describes the current round of price hikes as ‘unexpected inflation?'”

Unexpectedly — it’s the Obama-friendly-economist’s favorite word!