I saw the video and I’m not convinced. It’s impossible to tell for sure what he was saying “yeah, absolutely” to.
Plus it looked more like a glad-handing brush off than a thoughtfully considered answer. For all we know, he was answering someone asking him “are you glad to be here, Fred?” The way he answered it would have been in line.
Yeah, the video was also edited with different views from different cameras.
Ferris Bueller Economics Teacher: In 1930, the Republican-controlled House of Representatives, in an effort to alleviate the effects of the... Anyone? Anyone? ...the Great Depression, passed the... Anyone? Anyone? The tariff bill? The Hawley-Smoot Tariff Act? Which, anyone? Raised or lowered? ...raised tariffs, in an effort to collect more revenue for the federal government. Did it work? Anyone? Anyone know the effects? It did not work, and the United States sank deeper into the Great Depression. Today we have a similar debate over this. Anyone know what this is? Class? Anyone? Anyone? Anyone seen this before? The Laffer Curve. Anyone know what this says? It says that at this point on the revenue curve, you will get exactly the same amount of revenue as at this point. This is very controversial. Does anyone know what Vice President Bush called this in 1980? Anyone? Something-d-o-o economics. “Voodoo” economics.