In Defense of Larry Kudlow (Sort of)

A lot of folks are running around making a big point of the fact that Larry Kudlow, Trump's new head of the National Economic Council, has gotten a lot of things about the economy wrong, and in particular missed the coming of the Great Recession. For example, here's Dana Milbank's column in the Washington Post this morning.

While Kudlow has gotten a lot of things wrong and completely missed the housing bubble and the implications its collapse would have for the economy, he was hardly alone in...