Transcript Document

Today’s Economy: Why are we here?
Fed’s balance sheet blown up by factor of 3+. Ron
Paul comes Oct. 7th. More from my colleagues.
•2004 S.E.C. change in the law.
•3% Wipe out rate, $1.60 in capital.
•Hey, but why worry…housing prices will never fall!
“The ultimate result of shielding men from the effects of folly is
to fill the world with fools.” Hubert Spencer
No Moral Hazard.
Why do we stay here?
History repeating: Demonize Business, Villify Success,
Temp Tax Yo-Yo, Cap gains, ½ the gains...all the loss.
Class Warfare? Math? Or Class Warfare Math?
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Why do we stay here?
NLRB and Boeing…Chrysler Bonds…Industrial Policy and
Solyndra…Keystone pipeline…Korea, Colombia,
Panama…disinterest in economic growth
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Lock in Government @ 25% of GDP
Taxing to Prosperity?
What do you do with historical facts?
Nobel Laureate Robert Lucas asks:
• "Is it possible that by imitating European
policies on labor markets, welfare and taxes,
the U.S. has chosen a new, lower GDP trend?
If so, it may be that the weak recovery we
have had so far is all the recovery we will get."
Will your children have a better life than you?
1% and 30 years makes a world of difference.
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Is a long-run equilibrium unemployment rate of
7.5-8% as good as it gets???