Peter Schiff - Watertown, CT Rotary Club - P3

[justgetsome]

Laffer is a joke, no pun intended.

[dtorne]

Weird now that Volcker is the chairman of the newly formed Economic Recovery Advisory Board under President Barack Obama. Did he lost his skills?

[dan0813]

No...I don't think he lost that much. I think Obama wanted to have the presteige of volcker on the Board and the best way to keep him from speaking out against your policies is to put him on that board.

[dan0813]

C'mon peter...you could of corrected yourself by saying that Jimmy Carter appointed Volcker. Ronald Reagan was smart enough to keep him and reappoint him, but lets give credit where credit is due. Even a terrible president like Carter can do something right. Ironically, Reagan appointed the worst fed chairman ever...Alan Greenspan .

[nsolcis]

@dan0813

lol, crazy, thanks for the knowledge

[MatM926]

That's why he stumbled, he didn't want to upset the Republican crowd.

[keithlabs]

Reagan did reappoint Volcker in 1983. He also defended Volcker's high interest rate policy which was very unpopular and wouldn't have been possible without the president's support. This is why Reagan is generally given credit for Volcker's policy in the early 80's, when the inflation problem ended. Volcker's magical presence was not the cure, his unpopular policy was. This was a Reagan admin achievement.

[takerdust]

Then again.. Greenspan used to say the right things.