An Economist who got it right!

And one who now looks like a drooling idiot.

Peter Schiff looks eerily prescient back in 2006. Laffer, on the other hand, is the idiot (some of us already knew this - he grades the economy on a curve). What is so striking about this clip, aside for the fact that it is on YouTube and thus can be consulted by anyone, is how Schiff is using simple common sense. "Common" in the sense that anyone should posses it.

[sidebar: check out the discussion on whether or not women like to work, the "privilege" men have long had. The upper middle class, in the person of the pretty TV hostess, has no smallest idea of what the average person goes through to earn a paycheck - another whiff of '89.]

god, I love YouTube.