To Clear up the Confusion
2009 June 11
For those that still think the stimulus package will “save or create” thousands of jobs, or whatever non-falsifiable test President Obama is using now (“Hey, we lost 59,000 construction jobs, but I saved 110,000 through the stimulus.” “How can you prove that?” “Next question!”), be sure to check Arthur Laffer’s recent op/ed in theWall Street Journal. The consequences of such a gargantuan increase in the monetary base cannot be truly gauged, but he predicts it will be worse than in the 70′s given the unprecedented nature of the increase.
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