May 29, 2009

Lawrence Yun: The Worst Economist of All Time™.


Worldwide laughingstock.

The Worst Economist of All Time™

Poodle.

And still employed.

Here's some Yun low-lights over the past few years. It's really not funny. Aided by the idiot rip-and-readers in the MSM, he ruined lives. All for a buck. All because he wanted to pump the value of his DC condo. All because the NAR paid him to lie.

February 2009:


Yun added " "I think we are very near to the end of the housing downturn," Yun said (AP News).

March 2008:

The National Association of Realtors(R) Chief Economist Lawrence Yun has been named among the top 10 economic forecasters by USA Today.

February 2008:

"We are comfortable this is now the bottom"

November 2007:

"I don't anticipate any further major sales declines"

August 2007:

"We can thank steady media coverage of the real estate market “correction” for unfounded consumer concerns."

July 2007:


"We are encouraged that home prices, at least for now, have stopped declining"

September 2005:

"The chance of a housing price decline in the DC area is close to zero, in my view"

17 comments:

Batman said...

Of all time?
OK, he's corrupt but he's got competition.

keith said...

Lereah was bad, but at least he was making his statements back when we really didn't know

Yun was still spinning lies a few weeks ago.

Follow the money. He was trying to get out from under his DC debt-trap.

It's illegal for analysts to pump stocks without disclosing their holdings. It should be the same way with real estate too.

Yun needs to be hauled in front of Congress.

You wish there was something he could be prosecuted for. But I don't think there is.

Anonymous said...

keith,

what is the opinion of BO and now Gibbs over there in brittan?

my sense is that BO has been doing a good job off pissing our allies off.

dp said...

In all seriousness, are you against all commission based sales jobs?

Bukko_in_Australia said...

Speaking of economics, corruption and housing, did you see this rilly kewl slideshow of graphs on the mortgage debacle? (Kudos to Henry Blodgett at Mortgage Meltdown.) You probably saw it, Keith, because you're an anorak on these things. But for anyone else who wants to glom what's going on, and has an ECON 101-level understanding of things, I advise checking it out. Especially because it has insulting comments about Mozilo!

investorinpa said...

There are too many contenders to list, Keith. So maybe time to do a poll of all the pseudo economists...names like Norman, Yun, Lereah, Baghdad Bob (ok, not really an economist) would make for a good poll.

euonymous said...

So, he has a bottom fetish.

Speaking of corrupt, where's your Timmy G post?

euonymous said...

"Yun needs to be hauled in front of Congress."

Because he's a Corrupt Bastard, he needs to be hauled in front of CONGRESS? But, but...

Keith, yer such a jokester!

consultant said...

And the dumbest.

Anonymous said...

Dear Mr. Yun,

Thank you for your leadership, insight, and inspiration in leading us out of this challenging time.

Would you please explain for our subscribers the roles that both the largest, most powerful financials in the world and the ratings agencies played in fraudulently conveying no doc/stated loans as AAA securities.

I am certain this is where the lion's share of the blame lies. Sure; we benefited and would be disingenuous to now claim we wouldn't have opposed tighter lending, but these are nuanced arguments well over our clients' heads.

We need to deflect undue scrutiny here, and your economic background could be put to good use in that.

Some investigators and prosecutors would be rather helpful as well, but we both know what a sham that would be.

Sincerely,

A Realtor

OMG! said...

Yun should be the opening act for Bush's new speaking gigs, "The Tragical History Tour."

les said...

Why doesn't the NAR buy a parrot and teach it to say, "the market has bottomed."




We might as well get a couple more parrots to say, "green shoots, green shoots."


Economists are tools.

Angry Leprechuan said...

Yun added " "I think we are very near to the end of the housing downturn," Yun said

THAT SOUNDS VERY CLOSE TO:

"It's not coming. It's over. We bought (printed) our way out of it. So enjoy the recovery.

Now in 2013, that's another story..."

"I've had it - I know it's hard to understand, but Obama is cleaning up Bush's mess. If he hadn't pumped in the trillion, we'd be in depression. Is what it is."

Keith you and Yun could have some great conversations together. A rolling hill full of daisys and poppys. A blanket, Yun, a bottle of bubbly, and a picture of Obama. The three of you could make magic together.

Fanny Alger said...

Where does that leave Greenspan or Bernanke? Corrupt or just stupid?

Anonymous said...

"Economist"?!!!!

HAAAAAAAAAAAAAAAAAAA To call this bought and paid for shameless SHILL an "Economist" is the biggest insult of all.

He might as well be a headline writer for the National Enquirer...

Peahippo said...

Yun is not an economist at all. He's a spokesman for a highly corrupt and self-interested national association.

Still, he does follow in the footsteps of other people who also claimed to be economists, but who also only represented their owners -- governments and institutions.

There's a reason why economists seldom if ever represent the interests of the working man. It's because we working men CAN'T AFFORD TO EMPLOY THEM.

wallstreetvet said...

I'm sure he's very bright, but his job is to fluff up real-estate. All people in the public eye and responsible for promoting a certain theme will always be bullish. I dont know why we make such a fuss about it on this site. Just ignore these people. We should be writing about those who are bright and tell us their honest views.