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by Steppenwilf 06/28/2009, 2:12pm PDT |
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Fussbett wrote:
Japan also cut taxes TWICE in the 90's. For some reason, Reason doesn't mention that.
The Bank of Japan also printed money like crazy, buying up vast amounts of Japanese government debt and financing the mother of all "stimulus packages." Art Laffer, the godfather of tax-cut supply-side voodoo Reaganomics horseshit, is certain that the US's similar program of "debt monetization" will result in a Wiemar-style hyper-inflationary spiral within days, if not hours. Hmm, I wonder how it turned out for the Japanese? |
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