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Tinfoil hats Vs. mainstream economists
Old 10-03-2008, 09:51 PM   #1
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Tinfoil hats Vs. mainstream economists




So, this video was aired back in August 2006. One one side we had one of the biggest "tinfoil hats" in the world, Peter Schiff. On the other side we have a mainstream economist Art Laffer (Former Ronald McReagan Economic Advisor, BA Economics Yale, MBA Stanford, PhD Economics Stanford). Watch the video and see who is the "idiot" today, 2 years later.

Also, Laffer and his kind are the ones saying that we MUST HAVE this 700B bailout. Peter Schiff, on the other hand, has been saying this about the bail out: " We're going to die from the cure not the disease ". I put my money on Peter Schiff and I am certain that we will have some scary times ahead. better buy your tinfoil hats folks, cause the mainstream economists have no clue about what is going down.
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Old 10-03-2008, 10:47 PM   #2
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Originally Posted by camberiu View Post
cause the mainstream economists have no clue about what is going down.
Are you painting with too broad a brush and thereby killing your point? So-called "mainstream economist" views on the bailout are all over the map. Maybe you should restrict your comments to Laffer and not try to generalize to all economists since they all aren't fitting into your mold.

The comparison between Laffer and Schiff is interesting. The generalization that all economists share Laffer's view is ridiculous. They don't.

JMHO.
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Old 10-03-2008, 10:51 PM   #3
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Thanks for the link. I watched it. I don't watch CNBC.

I think the psychological issue is that we haven't had a countrywide recession in quite awhile. Over the last 25 years we have had rolling recessions through the economy. Early 80's steel and auto, mid 80's - 90s middle management, 90s mfg to china 00s computer.

It will be bad because we haven't had a country wide recession for awhile and our expectations are that home and stock values always go up. It might not be as bad as others in the past but it will be perceived as very bad.

The other question is where are we in the cycle of a recession? As with them you don't know when it is over for awhile until it is over.

The stock market is predictive (6 mos.?) so, when it turns up it might indicate the end is in sight for the recession.
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Old 10-03-2008, 10:52 PM   #4
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Really? Which mainstream economists do you know are against the Bailout? Could you name a few?
Also, which mainstream economists were predicting the DIRE financial crisis we are in today back in 2006? Could you name a few?
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Old 10-03-2008, 10:59 PM   #5
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Really? Which mainstream economists do you know are against the Bailout? Could you name a few?
Also, which mainstream economists were predicting the DIRE financial crisis we are in today back in 2006? Could you name a few?
I'll leave it to you to show that ALL economists are in total lockstep with Laffer......

Edit: Oh, it was so easy I went ahead and grabbed one of a number of lists of economists against the bailout. Here... http://faculty.chicagogsb.edu/john.c...ge_protest.htm

I reviewed my post..... I didn't say that mainstream economists were predicting the DIRE financial crisis in 2006. You imply I did. Why?
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Old 10-03-2008, 11:06 PM   #6
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When I saw Laffer on CNBC this week, he said that he was against the bailout.


Quote:
Originally Posted by camberiu View Post



So, this video was aired back in August 2006. One one side we had one of the biggest "tinfoil hats" in the world, Peter Schiff. On the other side we have a mainstream economist Art Laffer (Former Ronald McReagan Economic Advisor, BA Economics Yale, MBA Stanford, PhD Economics Stanford). Watch the video and see who is the "idiot" today, 2 years later.

Also, Laffer and his kind are the ones saying that we MUST HAVE this 700B bailout. Peter Schiff, on the other hand, has been saying this about the bail out: " We're going to die from the cure not the disease ". I put my money on Peter Schiff and I am certain that we will have some scary times ahead. better buy your tinfoil hats folks, cause the mainstream economists have no clue about what is going down.
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Old 10-04-2008, 08:40 PM   #7
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we used to do the no bailout thing back in the 1800's. constant depressions, bank runs, bankers were still greedy, etc. i'll take the bailout which has done some good in other countries in the 20th century
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