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Pastimes : Don't Ask Rambi
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To: koan who wrote (69841)1/12/2009 12:37:58 AM
From: JF Quinnelly2 Recommendations  Read Replies (1) of 71178
 
Well, at least I now know where your politics now lie.

Krugman, Stiglitz and Samuelson all won the nobel prize for economics. Hardly comic book characters. Arthur Laffer (supplysider's Godfather) was the real comic book character. Laffer as recently as last year (on youtube) is seen laughing hystericaly at the idea we were headed for a recession. He was right it is a depression-lol.

I didn't say that Krugman, Stiglitz and Samuelson are comic book characters. I said that you have a comic book idea of Reaganomics, which you do. Limbaugh makes similarly butt-ignorant comments about Reagan's economic program, the difference being that he thinks the comic book version is a good thing. My criticism was about substance, not politics.

Art Laffer never worked for Reagan, he had a private practice during the 80s. He was clueless about the credit bubble and the coming recession. And he openly backed Obama.

Mainstream economist's dismiss supplyside economics as nonsense

And you think supply-side is what, exactly? Do these mainstream economists construct graphs with just demand curves? I suspect that most mainstream economists know that demand-side stimulation during the Carter years fueled inflation. That shifting the supply curve to the right increased the production possibility frontier and allowed demand stimulation to result in economic growth.

I was in college when Reagan was governor. He was so brutal and so clueless we liberals were at war with him. When he ran for president he scared us to death....Hayakawa was a clueless madman. As was Reagan.

I used to pick up copies of Pravda for the entertainment value. This reminds me of the stuff they used to print. I always suspected the Pravda gang knew what they were saying was crap, which would have differentiated them from American college students.
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