Reality Check for McPangloss

brilliant-balls

John McTernan must surely be nearing peak McPangloss in The Scotsman this morning…

“…today, no-one has ever doubted Ed Balls’s brilliance. What no-one could anticipate was quite how brilliantly he would grow into his role.”

Guido likes McTernan, he has a dry wit, with a certain concentrated menace that lurks in his soul, eager to be released. His new self-appointed role as a panglossian Labour media cheerleader just doesn’t suit him. He just goes over the top and humiliates himself.

For example, just before the European elections he told nervous Labour loyalists to relax, they were going to win the Euros. UKIP convincingly won the Euros…

Claiming no one doubts Ed Balls’s brilliance and events have proved Balls right is just silly. Half the shadow cabinet have their doubts, Ed Miliband did not even want to give the job to Balls – giving it at first to Alan Johnson. Most importantly and in direct contradiction to McTernan’s central thesis, as the economy recovers sceptical voters doubt even more the supposed wisdom of Ed Balls and have increasing confidence in George Osborne:

balls-osborne

Go back to attack, McPangloss, it is what you do, cheerleading just doesn’t suit you…




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Quote of the Day

The FT’s Wolfgang Munchau on the “fake maths” of economic forecasts:

“The truth is that our ability to forecast the future beyond the current quarter is limited… The curse of our time is fake maths. Think of it as fake news for numerically literate intellectuals: it is the abuse of statistics and economic models to peddle one’s own political prejudice… The fakeness of the maths lies in an exaggerated inference. Economic models have their uses, as do opinion polls. They provide information to policymakers and markets. But nobody can see through the fog of the future.”

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