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Old 03-10-2009, 03:52 PM   #1
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Supply-side reality from the man who created it.

Paul Craig Roberts, one of the architects of supply-side economics looks back with 20/20 hindsight.

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The bald fact is that the combination of ignorance, negligence, and ideology that permitted the crisis to happen still prevails and is blocking any remedy. Either the people in power in Washington and the financial community are total dimwits or they are manipulating an opportunity to redistribute wealth from taxpayers, equity owners and pension funds to the financial sector.
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How long can the US government protect the dollar’s value by leasing its gold to bullion dealers who sell it, thereby holding down the gold price? Given the incompetence in Washington and on Wall Street, our best hope is that the rest of the world is even less competent and even in deeper trouble. In this event, the US dollar might survive as the least valueless of the world’s fiat currencies.
Paul Craig Roberts: How the Economy was Lost

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Old 03-10-2009, 04:14 PM   #2
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And one more, because this guy has the Republican conservative credentials and knows more about supply-side than about anyone else.

Paul Craig Roberts: What is Supply-Side Economics?

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Old 03-10-2009, 09:02 PM   #3
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And yet you want this same incompetent government to regulate it...
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Old 03-10-2009, 09:23 PM   #4
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Originally Posted by skeeter View Post
And yet you want this same incompetent government to regulate it...
Competent vs. incompetent. Don't you suspect the truth fluctuates in the middle somewhere? I buy food and eat it. Did the FDA do a competent job of inspecting? Maybe. Is self policing part of it. Sure.

I want the government we have to do the best job they can with as little disruption and money spent. Any institution of any size will have waste and inefficiency.

OBVIOUSLY THEY CAN'T REGULATE THEMSELVES!
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Old 03-10-2009, 10:23 PM   #5
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I want the government we have to do the best job they can with as little disruption and money spent. Any institution of any size will have waste and inefficiency.

OBVIOUSLY THEY CAN'T REGULATE THEMSELVES!
one of the first real solid things i've heard you say
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Old 03-10-2009, 10:29 PM   #6
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