Thursday, February 19, 2009
- Reagan budget director turned Wall Street flack!
- Relentless stock-market cheerleading played a central role in inflating the past two market bubbles -- which, when they popped, resulted in trillions of dollars of lost wealth!
- Worked for liberal Daniel Patrick Moynihan's 1976 U.S. Senate campaign before turning true believer in supply-side economics -- a.k.a. "voodoo economics"!
- Against the estate tax and capital gains taxes!
- Believes unlimited executive compensation is fine and dandy -- and that pension and medical benefits for rank-and-file workers are an "undue burden" on corporations!
- Forced to resign as chief economist at Bear Stearns in 1994 -- because he was a cokehead!
- Worked for Arthur Laffer, inventor of the Laffer Curve, which "proves" that lower taxes lead to higher government revenues!
- Currently on his third wife!
- Favored the war in Iraq because -- get this -- "a lack of decisive follow-through in the global war on terrorism is the single biggest problem facing the stock market"!
- Enjoys tennis and golf in his free time!
- Mocked those worried about the business climate and the markets as purveyors of doom and gloom -- even as the global credit crunch was gathering steam!
- Called recessions "therapeutic" and "cleansing"!
- Blamed the current economic crisis, the most severe since the Great Depression, on "liberal guilt"!
Posted by Joe Six-Pack at 12:20 AM