Jots with dots 2/16

Dilettante economist – Reagan, Clinton booms

Chait is right I think at least on the 90’s. The Reagan tax cuts, I would think fair to say, caused the Reagan boom. They didn’t cause the 90’s boom.

Chait goes on a tangent about the Reagan tax cuts, and I understand him to suggest they caused recession of 82. I don’t know how that could be true. The initial tax cuts caused an enormous federal revenue shortfall, but it’s not as if the feds stopped spending money. Deficits just got really big, much bigger than accustomed. The recession was more so Reagan allowing Paul Volcker to maintain high interest rates long enough to stunt inflation.

Re the 90’s, I always thought it a confluence of demographics and timing. There were lots of boomers, and as a function or their age… 40 somethings at the time, typically… in the 90’s they had lots of energy to do work for which they were at their peak earnings capability. And then also, peace dividend, Win95, the internet, and easy money mortgages…


SNL 40 – I thought it was pretty funny. I tell ya, my political dissonance might not be all that apparent here from what I write… but I can barely stand to watch Sarah Palin speak. I thought the Californians was hilarious.

Gun Grabbin – best article on this that does not come from the gun press – The gun people are starting to get pretty worked up. If I’m to guess, I’d say this gets withdrawn in the face of overwhelming political opposition mustered by the NRA.


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