John Irons's Blog

Icon

Economic News, Data and Analysis

Roubini on the Supply Side

Good summary of supply-side failures. Worth a read…

RGE – Deja Vu Voodoo Economics…or Supply Side Voodoo Black Magic…
So, while this voodoo magic religion seems to have also infested the halls of the the U.S. Congress, the next time you hear Mr. Laffer and his voodoo magicians tell you that their strange religion and odd beliefs have been vindicated, remember that this black magic has been tried twice before and has miserably failed. It is time for the U.S. to get rid of such barbarian delusional beliefs and get back to a reality-based mainstream economics of budget constraints. Otherwise, as predicted in a recent S&P study, the U.S. would be on its way to experience over the next decades an unsustainable death path would eventually lead to a junk bond credit rating status. That would be the ultimate verdict on supply side Voodoo Economics!

Advertisements

Filed under: Economics

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

Pages

Archives

%d bloggers like this: