Wednesday, June 25, 2008

The Smart Guys

We'll quote a couple of Smart Guys.

...the fragile outlook for world prosperity will be improved... The uncertainty tax on world growth will be lowered too, as will the energy tax from temporarily spiking oil prices.

(The spike? To $37.++ The year? 2003. The Smart Guy? Larry Kudlow.)

“Under every plausible scenario, the negative effect will be quite small relative to the economic benefits... The key issue is oil, and a regime change in Iraq would facilitate an increase in world oil,” thereby driving down oil prices.

(The Smart Guy? Laurence Lindsey, Bush's Senior Economic Adviser)

Paul Wolfowitz, then Deputy Secretary of Defense, went on to reassure the nation that Iraqi oil revenues would pay all the costs of reconstructing the country.

All these Smart Guys should get full refunds on their college tuition.

Source: The Daily Reckoning

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