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" ... A phalanx of professional economists today will tell you that, and why, the world is consigned to economic stagnation forever. They call it “the new normal.” This claim is less persuasive, and far less intimidating, to those of us who had the first-hand experience, back in the 1970s, of facing a phalanx of professional economists confident that the economy just could not possibly grow at the rates propounded by the Supply Siders. ... "
" ... Claims of superiority for different forms of fiduciary currency have been propounded for thousands of years. Innumerable permutations have been tried innumerable times. Every effort fails: quickly or slowly, stubbornly and mystifyingly, yet fails always. Each time new proponents wipe clear the chalkboard and replace old nostrums with new nostrums. “Meet the new boss, same as the old boss.” ... "
" ... Dissociating himself from the image of North Korea and Iran in an “axis of evil,” as propounded by George W. Bush in his 2002 state-of-the-union speech, he averred he'd "never been a fan of the axis-of-evil concept." That said, he castigated the North for test-firing a long-range missile six weeks after the Leap Day agreement of February 29, 2012, in which North Korea had agreed, no more tests. ... "
" ... Not long after — on the first day of the new millennium, in point of fact — a 13% flat-rate income tax was implemented by, for and in Russia. (It was not propounded, it would appear, by any of the purported free market economists in the room with their stock market chief). In anticipation of, and under, the new tax rates (and other free market respecting rules) economic growth, predictably, took off at a supercharged pace. Real growth averaged 7% per year during Putin’s original two terms, growing more than 70% in real terms over eight years. Washington yawned … and stagnated. ... "
" ... Torsten Slok: I think that we've reached a point in the crisis where at least the central banks have reacted to the theories propounded by the ECB with a number of different initiatives that have been helpful. We have finally also seen the Americans come along with a fiscal package. Therefore, we are relatively confident that we are beginning to move in the right direction. There's still a lot of things in financial markets that are not quite as calm as we all would like, but the short answer is that we are feeling more optimistic than we have done at least for quite a few weeks. ... "