Economist got hit hard by a letter to the editor

SIR – When questioning the qualifications of Barack Obama (“But could he deliver?”, February 16th) please remember your endorsement of George Bush in 2000 when Americans were deciding the direction of our nation. It turns out you endorsed a man who is, and will be remembered as, one of the worst presidents our nation has ever had.

This remined me of another bad call: in 2003 Economist editorial board were for the Iraq war.

Economist is one of my most frequent read, its usually excellent, but it has it occasional bad calls.
Come on, prediction is hard, we have all made bad calls in the past.

Here is some other predictions made before the Iraq invasion.

Notice the Yale economist had the closest prediction amount them, and sadly current reality is worse than his worse case senario.
In fact, Nobel prize-winning economist Joseph Stiglitz has conservatively estimate the war to cost America $3 trillion.


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