10/22/2004

Reynolds is linking to Larry Kudlow. If you want to know about the economy this is THE place to go.

Tax Cuts Are Better: As per Roger Altman’s good old college try, Nobelist Edward Prescott says “When you cut tax rates, employment always goes up…The idea that you can increase taxes and stimulate the economy is pretty damn stupid."
Then there is this kind of information on oil:

Steve Hanke has the story right – filling up SPR means the government competes for oil inventories with the private sector. The money sentence: After the President issued the order to fill the SPR, in late 2001…total US oil inventories have increased by 9.4%…But private stocks have actually decreased by 12.5%. The SPR has crowded out private storage…
Whatever Kudlow says deserves immediate attention because he is a brilliant economist:
The brilliant Elaine Garzarelli and her model of indicators believe the stock market to be 25% undervalued. I agree. So does Art Laffer. In fact, given everything thrown at the market this year, including Iraq and oil, the fact that the S&P 500 is actually up a smidge is really a sign of great market strength
There's lots more. Go there.

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