The perversion of Republican economic policy on display HERE

“Whatever the total of capital flight from developing countries, it is sufficient to make nonsense of conventional financial statistics, and, therefore of the economic policy prescriptions based on them” - page 332 of Hot Money and The Politics of Debt by R.T. Naylor (Associate Professor of Economics, McGill University.

That quote always stuck with me, since during my college days economic theory, micro and macro, would say certain things were bound to happen and then something else would result…especially since the stagflation days in the ‘70s with Nixon which are now being repeated with Bush. The Prez issues huge tax cuts (the traditional economic prescription) and the economy DOESN’T really boom from the stimulus. Wow, that’s an eye-opener if there ever was one.

And now the Amer. Shareholders Assn.

ASA capital repatriation scorecard $200 billion repatriated back to America on track for $350 billion total
www.americanshareholders.com/ news/asa-repat-08-19-05.pdf

puts out that paper on capital repatriation to the tune of $350 billion on a one-year only “fix” and to my knowledge that is the only bright spot in the recent economic picture ! Plus they call it part of a 'tax cut' when it really is a tax increase...just as Reagan after his 1981 massive tax cuts later had to add taxes in ensuing years they called them ‘revenue enhancements’ ! What a Laffer, oops, I meant to spell that Laugher.

remedies Keynesian "lag"!, if there's anything the 1920's taught us it is that Say's law is perfect and irrefutable, anything that happened from 1929 on is just part of the conspiracy of disinformation by that damn liberal media!!!

And supply-siders, and anyone with a modicum of common sense, knows the truth. Laffer must have downed too many cocktails prior to writing on that napkin, don't you think ?

The supply of monkeycrap creates its own demand ! At least for discriminating freepers.

Besides, RT Naylor's seminal work Hot Money and the Politics of Debt shows us that international flight capital flows make a mockery of modern economic policy prescriptions. Remember how Bush's tax cuts were supposed to 'stimulate' the economy ? They just now created their first 'net' new job last year...four years too late for many. Oh, the joys of Globalization !

on it "If you feed enough oats to the cow, eventually something will pass through for the sparrows":rofl:

http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=132&topic_id=2136625&mesg_id=2137840

The link on the capital repatriation that the ASA calls a 'tax cut' is actually a tax increase, just like the Reagan era tax cut resulted in subsequent years 'revenue enhancements'.

Capital repatriation is all that's keeping the economy resusitated this year !

Clyde Prestowitz's new book, it was pretty scary, he even had a quote from Volcker saying that he believed that there was a 75% chance the dollar was going to collapse over the next five years. Even most responsible conservatives understand that what were doing is unsustainable for very much longer...

Bush's D'oh! Factor
by Stephen Pizzo, News for Real. Posted October 7, 2005.

http://www.alternet.org/story/26509/

Hey, I know we're getting back pennies on the dollar for the globalized offshored money CEOs and the rich have been stashing overseas...but at least we're getting something back, right /

I mean at 5.25% compared to say 25%, well, that's still SOMETHING, wink wink, nod nod. We need to pump up the volume on this and expose globalization for what it is...just an excuse for Tom Friedman to blather about his honorary Indian citizenship.