woh. have you guys seen this?
i shoulda posted this in onny's thread but it is important!
agata
posted 3 months ago
i'll embed this again:
onny
posted 3 months ago
woh. have you guys seen this?
i shoulda posted this in onny's thread but it is important!
yeah. come to think of it, after reagan's deregulation, there was the s&l crisis. after bush's there was this crisis. perhaps, for future policy makers, this track record will mean something.
i'll embed this again:
Well Regan's financial adviser, Arthur Laffer, seems pretty out of touch when you look at this video from 2006. When Peter Schiff predicts the recession Laffer bets AGAINST it happening and basically mocks Schiff. Pffft is what i say.
and because i've been posting so much doom and gloom lately, here's this. one of the best music videos ever. it really does deserve its own song.
notice how laffer's arguments are not about the effects or the facts. he keeps citing the policies as being good, not the results.
Most analysis that I'm reading points to the congress decision in 2002 to let the CDS market run totally unregulated and nontransparent as a crucial mistake that created most of the current crisis. Although the bill was introduced by Phil Gramm the overwhelming majority of both democrats and republicans voted for it. The finger pointing mostly serves to obscure the issue that both parties ignored the warnings of concerned economists because they were too deep in the pockets of the 600 banking lobbyists that work in DC.
good point, therm. like i said on the twitter, there already is a class war... and the rich started it.
funny, and also kinda scary:
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