Arthur Laffer, chairman of Laffer Associates, talks with Bloomberg’s Tom Keene from Nashville, Tennessee, about U.S. fiscal policy, the performance of Federal Reserve Chairman Ben S. Bernanke and proposed federal aid for the country’s automakers.
In any great organization it is far, far safer to be wrong with the majority than to be right alone. —John Kenneth Galbraith
Asian currencies continue to sell off vs the $ on the heels of the news yesterday that South Korea said they will look into hot money inflows stemming from the $ carry trade and the Bank of Indonesia said they are looking into the foreign buying of bills. This follows the news a few weeks ago that Taiwan was limiting foreign deposit holdings and Brazil was taxing foreign inflow transactions. As I mentioned yesterday, we may have reached a short term pain threshold in terms of $ weakness and foreign countries are fighting back as they certainly won't wait for...
read more »
November 16th, 2008 at 2:01 pm
where’s the penny Art?
November 16th, 2008 at 2:23 pm
Laffer has a wonderful moment at the beginning of this clip of clips – I don’t think he has much to offer …
http://www.youtube.com/watch?v=2I0QN-FYkpw
November 16th, 2008 at 2:40 pm
Did he sketch it on a napkin? Not interested otherwise.
November 16th, 2008 at 2:42 pm
@willbklyn
That video makes me feel a little ill. Watching Laffer belittling Schiff when his commentary on the fundementals could have saved anyone who listened a lot of money. Watching these clowns try to keep pretending that the emperor has clothes is awful.
November 16th, 2008 at 3:06 pm
Sorry couldn’t get past the first minute… I’m no Obama disciple but blaming future Dem policy for pathetic stock returns of the last year on the incoming administration is disingenuous and juvenile. Love how he made (in retrospect) a complete fool of himself when he went up against Schiff (see YouTube).
November 16th, 2008 at 3:25 pm
He also was with Kudlow and the everything’s okay camp.
November 16th, 2008 at 4:18 pm
Art Laffer does not hit me as being “cutting edge”. Anybody willing to play tag with Larry Kudlow gets absolutely no respect or credence from me.
November 16th, 2008 at 4:54 pm
This guy is finished. The first few comments suggest he’s become “laughing stock”.
There are so many smart people out there who understood what was going on. I see ZERO reason to listen to people who got it wrong and LAUGHED at the person(s) with an opposing point of view who got it right.
November 16th, 2008 at 6:02 pm
Laffer is just about the perfect name for this guy. I have absolutely no respect for anything he says and won’t waste my time listening to his ramblings. A purely reactionary pundit with no sense of the future of the economy.