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Dennis Gartman on Gold, Oil, Government and the Economy

Gartman conveniently ommitted discussing the tax cuts during the Bush II years (tax cuts mainly for the wealthy). He's basically saying that tax cuts lead to greater prosperity, and perhaps that is true if the savings rate goes up as a result (savings finance growth). But under Bush, tax cuts were accompanied by a declining savings rate (it got down to 0% a year ago). The experience over the past eight years has proven that egregious tax cuts simply lead to egregious greed. Supply siders have been completely humiliated by the experience of the past eight years, but Gartman's wealth and ego simply won't let him recognize this fact.