Dr. Arthur Laffer - Part 1

[TylerThrashPeace]

this guy is insane! i say that because his emotions block him from the truth. he was brutally proven wrong by peter schiff back it 2006 and he said during the 2008 and 2009, the economy would be doing great, the housing market would still be better than ever and that wealth would continue to grow for all americans. was he right? no Arthur, you failed at your job during that time, you failed, you made it worse and hurt many people. you should stop doing what your doing, for the safety of america.

[fishingthewatershed]

@ 3:22 he says the economy is not driven by over inflated house prices, it is driven by good economic, monetary, and trade policies. @ 4:14 he says it is a zero sum game, an intrest dollar spent is an intrest dollar earned and it won't affect the economy, @ 4:26 states that he has never heard as many mistakes in his life when listening to Schiff, @4:35 Laffer says that HIS HONOR IS ON THE LINE I

[albertsamerica]

so please don't call me a "shill"... I'd like to see what ur education in economics is... Just by ur rant, i can tell you've *never* taken an economics class - or recently... Laffer is right on paper value, what you SHOULD be saying is "Paper value is not reliable"... Paper money is value... And Schiff supports going back to the gold standard - if we do that, the value of the dollar WOULD be MUCH lower than it is now - everyone or most people, know this...

[fishingthewatershed]

Hey shill, I've made my point over and over and over, you are the one who can't get around the truth. I see you trying to lead the discussion away from the original intent. As for your economics class remark, if you took an economics class (at 17 years old....right) and I am kicking your ass with logic then why would I want to take a class that obviously didn't help you at all. Many of the greatest minds in science, mathematics, AND economics were self taught, will you ridicule them? Shill

[albertsamerica]

Ever heard of an AP Class? Of course not... I'm taking the class, because it does help - you wouldn't know that you fool. I don't need to tell you my future plans, but you obviously don't know much about economics, except for what u've read from Schiff...

[fishingthewatershed]

Nice try shill, can't win a debate so you try to change the issues. Those classes obviously didn't help you since I have shown you that Laffer was way off base. If you want to believe that trade deficits are good for the economy then I can only feel relieved that you aren't an economist. Laffer himself said his honor is on the line when he made these outrageous claims. By his own words he lost his credibility. If you have trouble with any of these concepts shill then please let me know.

[albertsamerica]

PS: I'd love to see where your views are in economics... Sounds like you only listen to one economist...

[fishingthewatershed]

P.S. I would love to see your real profile shill.

[fishingthewatershed]

@5:45 he says it is a good thing we have built our economy on trade deficits @ 6:05 he thinks once again that trade deficits mean "wealth" for Americans,@ 6:31 says that Schiff doesn't know the numbers, @ 6:44 he says that a man and woman both have to work to keep a household not because of inflation but because THEY LOVE THEIR JOBS!!!. Here are 15 mistakes for you to chew on shill (when you aren't creating fake accounts)

[albertsamerica]

PS: I have nothing wrong with you pointing out his mistakes in the current video - i just want to ask you what is your view on economics? Or have you ever taken it before?

"built our economy on trade deficits " you think that is "bad"... Have you ever taken a basic class on international trade? No you haven't...

So far, the monetary policy has been okay... Bailing out the banks was the right thing to do... I just have a problem with Obama wanting lower interest rates... (gov loans to banks)

[fishingthewatershed]

If you want to check on this guys credibility just watch his argument with Peter Schiff in 2006. Schiff was right on and this noob was completely off base.

[albertsamerica]

Schiff is a libertarian who supports the free market... Last time i checked, both advocate supply-side economics... Laffer got one thing wrong and you destroy his credibility? Hell thank the man for Reagan's economic plan...

[fishingthewatershed]

If you want to praise a smug Narcissist like Laffer then thats your business. Personally, I feel if a man can't admit he's wrong then what kind of man is he? Also, you make it sound as if he designed Reagans plan by himself. He didn't. If he is so brilliant then how come he never saw one of the largest recessions in American history coming? Not only did he not see it coming but he smugly and arrogantly tries to humiliate someone who did. Did you even watch the debate?

[albertsamerica]

yes i did sir... Last time i checked, he was Reagan's TOP economic adviser.

BTW, what is Peter Schiff's solution to this problem? You'll find out it will resemble Laffer's solutions... Nuff said... Respect the man, people like Schiff (libertarians) use the Laffer Curve as well...

[fishingthewatershed]

You are praising his economic insight when he COMPLETELY missed the LARGEST RECESSION since the Great Depression? Maybe he was blinded by his own brilliance? Read my first post again...Schiff was RIGHT, this guy was wrong. ". Are you sure you watched the debate? He was wrong on EVERY count. I don't respect anyone who is too self absorbed to admit fault. It seems to me if he was such a wonderful economist he would have seen the train coming BEFORE it hit him. Schiff did.....right?

[albertsamerica]

And name the numerous libertarians at the CATO institute that didn't see this coming, yet fools like urself decide to use their economic advice..

MOST economists missed this... Period! The whole libertarian economic model is largely based on Laffer's economic principles.

[fishingthewatershed]

I don't think you are qualified to call me a fool. If I had made as many mistakes as Laughable Laffer then you could. And what policies from the Cato institute do I follow? You are blind. Laffer is blind. You follow Laffer. The blind leading the blind. Be careful of the ditch my misguided little sycophant. Can you tell me what Schiff said to Laffer at 3:11 into the debate? Was Laffer wrong? Answer this please and quit skirting the issue. Was Laffer outrageously wrong in this debate with Schiff?

[albertsamerica]

Secondly, the Great One, Ronald Reagan - loved by Milton Freidman, had Laffer as his chief economic adviser...

You don't see me yelling at Peter Schiff, i know the an is smart, but you are just being a childish troll here - Laffer and Schiff have been saying the same thing about free market economics (basically the same thing).

Btw, the CATO institute is known to be a mostly libertarian think tank... But go ahead, hate Laffer - he was wrong, even though in the 80s he was right...

[fishingthewatershed]

Once again my blind little troll/shill/noob, at what point DO you lose credibility? EVERYTHING, e-v-e-r-y-t-h-i-n-g Laffer said in this debate was WRONG. W-R-O-N-G!!!! Only a shill with a fake channel would try to argue this point. You probably use this albertsamerica" channel to comment to yourself on your main channel in a PATHETIC attempt to give your self some credibility. I can hear the hamster cage whirling in your nearly empty skull as you think "How did he figure that out?" Strike three.

[albertsamerica]

So according to your standards, the fact that Ronald Reagan made a mistake as governor (when he rose taxes and spending - yes he was a horrible governor, read up on it) made him lose credibility?

Does Milton Friedman lose all credibility for agreeing with Laffer back in when he was alive - they were close friends.

You are so stuck up with the fact that Laffer got one thing wrong, you you keep forgetting that those principles Schiff holds dear, were pioneered by Laffer in the 80s. Nuff said.

[fishingthewatershed]

One thing wrong? Can you count? Since you have such a problem with counting past one you would probably make as good of an economist as Laffer.

[albertsamerica]

Listen, you are taking this personal! It's like u r Peter Schiff! Listen, all i am saying is respect the man! Laffer and Schiff have almost the same beliefs! Right away you just want to throw Laffer in the garbage, over one mistake - which was made in 2006, during the last real year of Bush's economic growth. (i'll send u links from the government to prove this right).

Hell, yes Laffer was wrong. Just remember one thing, Reagan, the man u people use as an example of free market succ

[fishingthewatershed]

t's not ONE mistake shill, I can count up a truck load in his debate with Schiff alone. @ 1:35 he says he doesn't believe that 2/3 of the economy is driven by consumption. @ 1:40 he shows that he doesn't know the difference between wealth and the "value" of paper stocks, @ 1:58 says Schiff's totally off base, @ 3:05 he says not to worry about a collapse in house values because there will be lots of things to fill it back up again, @ 3:22 he says the economy is driven by good economic policies.

[albertsamerica]

Libertarians keep calling Reagan their hero... Thank Laffer, he was Reagan's chief economic adviser...

Hell i'm just defending Laffer because you act as if he is a "stupid" ass economist, when in fact, half of the libertarian economic beliefs were pioneered by Laffer! Period, end of argument - respect the man! And as far as i'm concerned, Peter said the collapse would be because of the dollar collapse, that never happened - the dollar is getting stronger - but not for long with Obummer in DC..

[fishingthewatershed]

Laffer said to Schiff that if he was wrong then his honor is ON THE LINE, he was wrong so by his very words he lost his credibility. So simple even a shill like you should be able to understand it.

[albertsamerica]

Schiff was dead wrong in 2002, DEAD wrong and he never admitted it... You don't see me attacking Schiff. I don't even praise Laffer - i just like to point out the principles he pioneered in the 80s - principles Schiff mostly agrees with. Again, thank him for being a good economic adviser to Reagan... Nuff said, you cannot avoid that fact...

[albertsamerica]

PS: Btw, i'm no fucking idiot. Laffer is not the only economist i like... Schiff is one, so is Friedman, Ludwig Von Mises, Kenneth Arrow and Gerald Debreu (both mathematically proved the Invisible Hand to be real), Adam Smith, Alfred Marshall, Peter Tanous...

Now do me a favor and learn to respect the fact that the man just happened to help your lil movement in the 80s, along with his pal - who agreed with most of the time, Milton Friedman...

Take care - btw did u see the disaster coming? no

[fishingthewatershed]

Answer the question shill. And yes, I DID see it coming.. Now, AFTER you answer the question about credibility, (which you can't since it blows your weak argument out of the water) then we will dissect the debate and I will prove to you that Laffers incompetance is systemic. Now shill, go open some more phony accounts.

[fishingthewatershed]

One major point I would like to make shill, You act as if Laffer sat alone in a dark room by himself and totally created some fantastic economic policy that saved the world from ruin almost 30 years ago. In reality his only contribution was placing his name on the work of HUNDREDS of other people which spanned decades if not centuries. To give him credit for ground breaking economic theory which happened years before he was even born proves your Intelligence (or lack of it.) Laffer is laughable.

[albertsamerica]

But fine, i can see you hate Laffer... As for as i'm concerned, Schiff was DEAD wring in 2002, and i don't think he's an idiot...

You name one person who has a perfect record in economics - you'll never find one. I'm just defending a man you should respect. Last time i checked, he and Schiff agree on most issues - and he's been right many times before...

[fishingthewatershed]

I am wasting my time on you shill. I have shown you 15 things Laffer got wrong in ONE interview along with his admission that his honor was at stake if he was wrong. So what is the point you are arguing in regards to my initial posting? I have backed up my claims and you talk about if I have ever taken an A P class. Good work shill, mystery solved. Your crushing "shill" logic has thwarted my documented facts. Do you have an Art Laffer blow up doll by any chance? I bet you do. Bye shill.

[fishingthewatershed]

albertsamerica wrote Laffer got one thing wrong and you destroy his credibility?" The captain of the Titanic got "one thing wrong" How is his credibility? The captain of the Exxon Valdez got "one thing wrong" how is his credibility? The employees at Chernobyl got "one thing wrong". How bad DO you have to miss the mark to have your credibility called into question? Watch the video again and I think you have the answer. By the way, this wouldn't be Art Laffer I am talking to would it?

[albertsamerica]

Schiff, last time i checked, argued that the dollar's collapse would destroy our economy - that's not what happened. If you have read the news, the dollar has gained strength as well (not for long, once inflation kicks in with this spending spree).

Nice cherry picking with the Titanic. Reagan was WRONG on the issue of Iran Contras, did that destroy his credibility as a great leader? Of course not you fool. You libertarians used to love to use Laffer's Laffer Curve and you still do!

[fishingthewatershed]

The dollars collapse has not even begun my misguided little troll. It WILL destroy the economy. And by the way, talking about trolls, nice fake home page you little shill. 17 years old huh? What a noob. You still haven't answered ANY of the questions I have asked you. Here we go again, try to keep up. At what point DO you lose credibility? And yes, I thought the "Titanic" remark made my point quite well thank you. Now go make another fake account with only 85 video views. (sigh) Noob.