Arthur Laffer and his Supply-Side nonsense bite the dust

I think I've already seen this 2006 video here at ET, posted by someone else. But anyone who is still espousing supply-side trickle-down voodoonomics should pay close attention and take notes:


<object width="480" height="385"><param name="movie" value="http://www.youtube.com/v/LfascZSTU4o?fs=1&amp;hl=en_US"></param><param name="allowFullScreen" value="true"></param><param name="allowscriptaccess" value="always"></param><embed src="http://www.youtube.com/v/LfascZSTU4o?fs=1&amp;hl=en_US" type="application/x-shockwave-flash" allowscriptaccess="always" allowfullscreen="true" width="480" height="385"></embed></object>

 

That was painful

 

Laffer was dead wrong, obviously, and also comes across as a douche.

However, I don't think this invalidates supply-side economics. You're reaching too far on this

 

It was, but...

QQQQ was 38 then, now 45.

Schiff lost money from 2006 to 2010.

 

Public Sector Supply economics is not working, the economy is staggering under the mere prospects of the future tax increases... if proponents of that could EVER DO THE SIMPLE MATH they would know that everybody suffers under taxation but they really don't care about that, it's about the jealousy factor. They can stir up garbage about race, gender, class warfare, etc.. and get voters to vote for more freebies... wow, aren't they the grand successes of all times?? What are they going to do for an encore? Maybe try an armed takeover??

 

Even bubbleboy Greenspan admitted that tax cuts don't pay for themselves.

They never did.

 

I think the main problem is the economics system is based on bank profit. Monetarism basis low reserves and low interest rates as the standard practice. This make money for the banks but is risky and floods the market with debt.

 

Yup, it only follows that the outage of Laffer would earn only a one star rating for this thread. Welcome to ET.

 

tax cuts do work...

the stats show that govt revenues are higher after the cuts.

the problem is that feds won't limit their spending. They spend more and more and more... like shitheads determined to destroy america.

 

Listen in at just before the 50-second mark to hear Greenspan say it in three words:

<object width="640" height="385"><param name="movie" value="http://www.youtube.com/v/eUiPBCRFZOs&color1=0xb1b1b1&color2=0xd0d0d0&hl=en_US&feature=player_embedded&fs=1"></param><param name="allowFullScreen" value="true"></param><param name="allowScriptAccess" value="always"></param><embed src="http://www.youtube.com/v/eUiPBCRFZOs&color1=0xb1b1b1&color2=0xd0d0d0&hl=en_US&feature=player_embedded&fs=1" type="application/x-shockwave-flash" allowfullscreen="true" allowScriptAccess="always" width="640" height="385"></embed></object>