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Thursday, June 25, 2009
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This news story has 14 comments:

  •  
    Thinks? I /know/ we're screwed!
    Jun 25 06:07 PM | Link | Reply
  •  
    When was the last time Art Laffer was right about anything? Whether it was the ridicilous idea that you can balance the budget but just cutting taxes or that defecits didn't matter or all of the stupid supply-side BS or his proclamation just 2 years ago that US economic policy was PERFECT.

    If anything, his proclamation makes me more bullish than ever about the economy.
    Jun 25 06:52 PM | Link | Reply
  •  
    the reason we are so messed up was that the last 8 years, job creation has been so far behind population growth, that we have about 20 million more workers than jobs. and that is why we are lost. we can't have a consumer based economy when consumers don't have jobs and those who do, aren't making more than they were 8 years, if nay on average
    Jun 25 07:06 PM | Link | Reply
  •  
    Exactly, Machiavelli. Laffer was one of the clowns who used to enjoy mocking Peter Schiff when he tried to warn the U.S. about what was on the way.

    The fact that Laffer is now guessing correctly is no reason for anyone to start listening to him.


    On Jun 25 06:52 PM Machiavelli999 wrote:

    > When was the last time Art Laffer was right about anything? Whether
    > it was the ridicilous idea that you can balance the budget but just
    > cutting taxes or that defecits didn't matter or all of the stupid
    > supply-side BS or his proclamation just 2 years ago that US economic
    > policy was PERFECT.
    >
    > If anything, his proclamation makes me more bullish than ever about
    > the economy.
    Jun 25 08:05 PM | Link | Reply
  •  
    Art Laffer is a monday morning quarterbacking liar.

    As noted in a few posts above: He like most others did not see any of this coming, he was nothing more than a cheerleader constantly appearing on CNBC to pump the stock market and sucker mom and pop investors in, and like so many of these bold faced lying pieces of trash, only NOW comes out and says "Oh look sh*t is going to hit the fan"

    Art Laffer is nothing more than a criminal, who like most, write books after the fact and look forward to the royalties. And because the media does not have the guts or integrity to tell this lying clown to take a hike, we have to be subjected to his lies.
    Jun 25 08:36 PM | Link | Reply
  •  
    Laffer's philosophy is what got us into this mess... so by rejecting his policies, things will mean revert.

    Just remember his twenty-year claim when he's fuming on Kudlow before the 2010 elections, and in '12, '14 etc...
    Jun 25 09:49 PM | Link | Reply
  •  
    Art Laffer is still trying to make himself relevant after Peter Schiff handed him a verbal beatdown last year.
    Jun 25 10:04 PM | Link | Reply
  •  
    Personally I am not familiar enough with Art's track record to make an assessment. However, 20 years does sound a bit long.

    This nation had seen even graver crises before but by the grace of serendipity every time we were able to ride it out even stronger. I have faith in counting on the tenacity and resiliency of the American people far more than counting on the bureaucrats.

    Yes, we've been screwed. However, they can break your arm, or your leg, or beat you down, yet they cannot kill your vision nor take away your spirit. As long as that flame of everlasting vigor is burning, the American people will ultimately rise up and prevail.
    Jun 25 10:32 PM | Link | Reply
  •  
    I am familiar with Art Laffer's record. He was a leading supply sider and proponent of the famous Laffer curve and he is pointing out the obvious: Flooding the economy with dollars is going to touch off stagflation and the cure for that is well known to us, reward the producers of society rather than "spread the wealth around."

    It's fascinating to see liberals fall into the same trap as Jimmy Carter did, and who can blame Art Laffer for cashing in twice by telling us what we all know: There is no free lunch, you have to earn what you get.

    By the way, cutting tax rates resulted in 20 uninterrupted years of economic prosperity, and the budget was balanced albeit for only a couple of years under a Republican Congress.
    Jun 25 10:41 PM | Link | Reply
  •  
    Laffer along with Greenspan bamboozeled most everyone with bait and switch of income tax cuts for payroll tax increases. All the while the conservatives raided the ss tax revenues to defeat the USSR, that well known hollow empire. We are simpletons if we continue to follow ninnies like Artie Laugh All The Way to the Bank Laffer.
    Jun 25 11:25 PM | Link | Reply
  •  
    Uhm.. doesn't "the economy is fine" predictions include just about everyone? The one predictable thing about the economy (OK, 2 things)
    1. 90% of all predictions will be wrong. The 10% that are right will be considered nut cases until they are proved right. Those 10% will be considered gurus until the next crisis occurs, where they will turn out to have been dead wrong.
    2. Every prediction makes certain assumptions. Most of them will turn out to be wrong, either because the underlying assumptions were wrong (sometimes due to bad data) or because some Black Swan event occurs, or both.

    On Jun 25 08:33 PM AKS129 wrote:

    > This is the same douche bag a year ago was saying everything is fine
    > and there is no real estate bobble and that the stock market is better
    > then ever....just die already you silly clown
    Jun 26 03:42 AM | Link | Reply
  •  
    It was not Laffer that caused it - it was that congress only looked at one side of the equation (just like they are doing now). They somehow keep missing the lower spending and less debt part.


    On Jun 25 09:49 PM VennData wrote:

    > Laffer's philosophy is what got us into this mess... so by rejecting
    > his policies, things will mean revert.
    >
    > Just remember his twenty-year claim when he's fuming on Kudlow before
    > the 2010 elections, and in '12, '14 etc...
    Jun 26 03:45 AM | Link | Reply
  •  
    He says 20 years of misery. I say 18, which began technically in 2001.

    This does not mean ONLY misery. We will continue to live, and find joy and meaning in other things than money perhaps.

    We had a Night-Cycle from 1965 - 1983; and I would not describe this period as non-stop misery. It was rich in a cultural sense. Although it was chaotic and violent and very stressful in a social sense.

    The Night-Cycle of 1929 - 1947 was very difficult for my parents but also very rewarding in that they learned to pull together as a nation, defeat a monster in a foreign war, and live to see the sunlight return.

    I'm wondering if EVERY full-term human life has a half-life of light and comfort and a helf-life of darkness and fear and discomfort. A day and a night. (My parents had night first, and day next; my generation looks like day first, night next.)
    Jun 26 04:26 AM | Link | Reply
  •  
    Michael Clark has it "nailed" alternating 18 year bull and bear, boom and bust cycles.For "original references," see "Generations" by William Strauss and Neil Howe, or Chapter 20, "Generational Cycles in the American Stock Market" of "A Modern Approach to Graham and Dodd Investing."

    Call Arthur Laffer's "20 years" two decades. He should know, having helped create the preceding boom.
    Jun 26 09:18 AM | Link | Reply
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