Holy cow, history has splattered mud on Laffer’s face.
Although travis was wrong about interest rates going up...
And that bimbo kicking in about women and jobs? She does not deserve the soapbox she gets. Nor do her opinions.
Yep. She's not waiting tables or sewing garments or loading boxes to feed her children.
What a pompous ass she was.
Why?
Because they are beholding to the corporate financial sector and it was the only near term solution to slow catastrophic failure of the big banks and securities firms.
Travis IS NOT WRONG. We are in a period of stagflation and inflation is going to continue with food and energy and medical and taxes in the near term and at least 2 years out.
Why?
Because China and India's and Asia's on other nations' economy have grown much faster than ours, but, they will still have to eat too.
The next gold mine is in the food commodities and the politico's know it.
In the meantime, the buying power, savings / investment effect of America's middle class will be trashed by 20% permanently from here on out. Average wages will lag 4 years behind this current recession.
Until American government gets its financial houses in order (cut spending and pay off some debt) and reinvests in domestic manufacturing and domestic consumption of those higher quality / better technology goods, the strength of the dollar will be even less now as I type.
When it comes to real value, you can't BS the world and a continued trade deficit every quarter and every year is nothing but US dollars flowing out to other countries economies so their wealth can increase.
We ain't seen nothing yet.