Bad Economic Predictions

[Leisher]

GoPro is teetering on the brink.

It was a really niche market. I don't think they knew that though...

[TheCatt]

It was (is?) the dominant product in that category, it was awesome. Guess knockoffs have come for it.

[Leisher]

Knockoffs and laziness really.

I wonder if they had the foresight to do dashcams, if they'd be more profitable now.

[Leisher]

401K balances are falling as people are borrowing more than ever from them.

Everything is fine.

[Leisher]

I don't remember his stance, will this make Gordon right?

[TheCatt]

Gordon thought the economy would enter a depression. Not just a recession. He thought the economy had fundamentally changed, would never heal, etc.

I do not think he was right, or that this would make him right.

Economists have called 17 of the past 3 recessions.

[Leisher]

Economists have called 17 of the past 3 recessions.

I laughed.

[TheCatt]

Economists have called 17 of the past 3 recessions.

I laughed.

This one isn't as good. But, how do you get 3 opinions on the economy? Ask 2 economists.

[TheCatt]

https://www.cnbc.com/2026/06/10/trump-i ... n-oil.html

Trump "loves the inflation"

[Leisher]

Remember when people thought W was over the top showing off with the press conference on an aircraft carrier? I'll bet those people feel stupid now.

Also, the MSM gets in on Catt jokes...

[TheCatt]

https://arindube.substack.com/p/a-minim ... experiment

Examining the natural experiment of states that have raised minimum wage vs those who have not, with impacts on employment.

Since 2013, 30 states have raised their minimum wage substantially — the population-weighted average nearly doubled. Compared to the 20 federal-floor states, restaurant pay rose about 8 percent more, while restaurant employment grew at essentially the same rate. The same story emerges across the broader set of low-paid industries, across three independent research designs, across the biggest raises, and across red and purple states alike. This doesn’t settle all questions about the policy’s impact on employment — for example, on specific groups of workers — and the data also cannot assess effects on hours of work. But within the range of policies actually attempted in the US between 2013 and 2025, wage floors appear to have delivered wage gains at the bottom without a noticeable impact on jobs in the key low-wage sectors the policy targets.

tldr: minimum wage increases had few/little negatives. Price changes are also studied in this article, and were found to be quite small due to the fractional nature of workers as part of total prices.