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1.
a prolific economist once dismissed by their peers and the media, who's career was jetissoned to celebrity sage status based on their consistent pre-stockmarket-crash point of view that the world economy was going to tank due to the excessive greed of large institutions and governments who fuelled them.

They now revel in a 'told you so' smugness as people hang on their every word for some solution to the current financial crisis.

the term can be expanded to include smugconomy - a nation that hasnt been overtly exposed to the banking crisis and thus lords it over other countries how efficently impervious they are to having a corrupt financial system.
smugconomists - David McWilliams (Irish author of the popes children), Nouriel Roubini (aka Dr Doom)

smugconomy - Canada, Sweden, Netherlands.
by paul frond November 24, 2009