QOTD
"The consequences of these actions were disastrous. Just look at the stock market from the post-Kennedy high in early 1966 to the pre-Reagan low in August of 1982. The average annual real return for U.S. assets compounded annually was -6% per year for 16 years. That, ladies and gentlemen, is a bear market. And it is something that you may well experience again. Yikes!"
- A Laffer, Oct 2008
From Today's WSJ...
The Age of Prosperity is Over

Laffer draws a parallel between the political and economic missteps of our time to those in the late 60's and 70's. I don't know if he's right, but it's a worthy read.
yikes indeed... yow, bill

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