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Kotlikoff constructed the highest possible number so that he could impress and alarm, so that he could get press and speaking fees... a Rubini light...a phoney Rogoff... a Faber wannabe. His construct is similar to so much hyperpole in the idiot press, like the representation of derivative...

Traveler, the problem is that interest rate modulation is ineffective in igniting an iniflation where aggregate private credit is contracting. I agree that the Fed wants to do this...my observation is that they have been trying to do this for over a year...but you notice that we are not...

GG, you asked a simple direct question...the fact that nobody offered you a direct answer must be revealling. Check out a recent paper published by the NY Fed this past may...see Seth B. Carpenter and Selva Demiralp, "Money, Reserves, and the Transmission of Monetary Policy: Does the Money...

Gubinec is correct, inflation can only lead commodity prices. As I have stated on other threads on several occassions, inflation is generally misunderstood. People confuse the imperfect measures we use for inflation, price change index measures, with inflation itself. There are other forces...

I live in NJ and I sent my kids to private school. Under the NJ State and Property Tax interaction, the affluent town I live in did not receive very much state support, so my property taxes are very high. Most Rich and Poor NJ towns spend over $20,000 per student per year. So, I paid $30,000...

Endsong, I agree with your sentiment about spending, but I still want to impress that there are certain pro growth tax cuts that are essential to a long term healthy economy...not all tax cuts...the issue is to maximize tax revenue long term which always must include macro growth to be...

Shanana...you don't have very thick skin do you?...so quick to descend into vulgarity...clear sign of a weak intellect. I might have written a better paragraph but I think you have to appreciate it with the other paragraphs that in the thread on the same general point. Nonetheles, I think...

EMRGlobal, I agree with the sentiments and observations you made about manufacturing in your long post...I don't agree with your six points. I would not favor a raise in the top marginal rate in the U.S. and I would not favor a VAT tax for the reason you alude to...it would just feed government...

Sytrader...it that was the extent of the point you were making then the point is stupid and petty nit picking that avoids the substantial reality.

Yeah, the Soviet Union was a real model of economic utopia! Do you live in Potemkin land? Are you kidding me...did you ever read Robert Conquest's classic, "Harvest of Sorrow" that describes how they destroyed Ukranian agriculture...useful idiots confiscating seed corn from the coops becuase...

And Shabanddabdona...flexible counter cyclical tax policy is a really stupid idea. How is anybody who has invest in a facory going to get any confidence in that kind of system...the natural state of living things, and economic systems, is to grow...the only reason it doesnt grow is becuase...

There is such crap opinon in these pages. The U.S. is the largest manufacuring economy in the world...sure we are pissing it away with bad tax policy and bad social policy but we have a lot to piss away. I run a manufacturing company and I can tell you that labor cost is not the whole game...

Endsong, you don' pay attention either...when Clinton 'raised taxes' he also liberalized trade by passing the Nafta free trade agreement and advanced the GAAT that liberalized world trade, at the same time he passed a revolutionary deregulation of the telecome industry that pushed rapid growth...

Gabfly, you are not paying attention and you do not understand what happened with GWB's 'tax cuts.' First, as I laid out above, the rebates and other cuts he started first with were Keynesian demand tax cuts and of course do not work...just like when Obama did it again with his Stimulus Fraud...

Endsong, there is disharmony in your tune. There is only one way to pay debt...with income. In a macro economic sense income is growth. If you don't grow, you don't pay debt. The issue with taxation is how to maximize revenue without hurting growth...the rest of the social planning is...

You have to understand that not all tax cuts promote production. The point of a pro growth tax cut that is that it creates an incentive that impacts the entrepreneurial view of the future...it promotes current behavior change to accept more risk because it encourages a more positive expectation...

Morganist, eugenics was not just the policy of the Nazi's...it was the policy of the progressives in polite society...it was the policy of Teddy Roosevelt, Woodrow Wilson....and the other vaccuos morons I alluded to above, who are today concerned about thier carbon footprints...don't tell them...

More seriously, Eugenics was a sick thing promoted by over educated idiots, sick with 'scientism', the arrogant conceit that they could know. These are the same over educated idiots who are promoting the 'green agenda' and 'global warming hysteria fraud' today...they are the ones who should be...

The retarded people are already in the Congress...and advising the President.

Piezoe, all those government actions you described, cash for clunkers, cash for appliances, tax rebates, cash for homebuyers and helicopter bills...do not make any lasting positive change. The cash for stuff is simply market distorting in that it brings transactions forward at a great cost that...