Blast From The Past: Laughing With Laffer

Or, rather, make that 'at'. Suffer us this brief detour into history, when hilarity ensues as we watch how Arthur Laffer, one of the "world-renowned", "greatest economists" of his generation and inventor of the Laffer curve, describes the US economy as of August 2006, indignantly making wagers with Peter Schiff that the bums bears will always lose, and otherwise validating the cardinal flaw canon of modern economics, namely that unsustainable debt is really just very  much sustainable wealth.

h/t Sudden Debt


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