Gerald O’Driscoll, Jr., Senior Fellow at the Cato Institute and former Vice President at the Federal Reserve of Dallas, joined us last year for a McCuistion TV program: What Is the True State of the Economy?
He and our other guests addressed the Fed’s role in the current economic situation and whether or not the present and anticipated government policies have a possibility of working.
Gerald O’Driscoll, featured in an August 16, 2010 Wall Street Journal article entitled: The Fed Can’t Solve Our Government Woes, addresses the policy of low interest rates, why this policy is sometimes justified, and he comments, “While these effects are theoretically plausible, this textbook policy does not apply to our present situation.”
He states, “Markets are resilient, but their recovery can be impeded by bad policies. At present, both monetary and fiscal policies are on the wrong track.” The article is thought provoking and well worth a full read. And you may want to click on the program link, to see what he had to say on the McCuistion Program.
Joining him on the program were:
- Stan Liebowitz, PhD – Author: Anatomy of a Train Wreck, Director for the Analysis of Property Rights and Settlement, University of Texas School of Management
- Richard Bitner – Author: Confessions of a Subprime Lender, Associate Publisher: Housing Wire Magazine
- Ira Silver PhD – Texas Christian University, Neeley School of Business
As always thanks for joining us as we talk about things that matter with people who care…
Niki Nicastro McCuistion
Executive Producer
This fall, our TV season will feature several TV programs taped at KLVX, the Las Vegas PBS station studios. Join us for up to date comments on the economy from:
- David Boaz, CATO
- Doug Casey, Casey Research;
- Daniel Mitchell,CATO
- Steve Moore, Wall Street Journal
- Richard Rahn, CATO
- Steve Forbes, Forbes Magazine
- Thomas Woods, author of the controversial best seller, MELTDOWN
We look forward to hearing your comments on our blog or through Twitter.
The flat tax, the economy, and government debt. Economist and editorial writer for the Wall Street Journal, Stephen Moore, joins Dennis McCuistion to discuss a changing America in this edition of McCuistion Television. During the course of the dialogue, they discuss likely changes that will occur after the November 2008 elections, the uncertain economic environment, tax policies and the stock market.
In speaking of the 2008 economy, Stephen Moore admits that America has seen great prosperity in the past few years, but the economy of a changing America is slowing down. The reasons rest with the housing market and the weakening value of the American dollar. He addresses how the weakening dollar directly affects the price of food, oil, gas and inflation in general. He goes into deep detail about this, pulling in information regarding ethanol subsidiaries, the use of US farmland and cautions regarding overseas drilling versus taking advantage of the nation’s own natural resources.
Regarding the George W. Bush administration, McCuistion and Moore dialogue about the pros and cons, economically. He speaks on what the administration did right regarding tax cuts and what they did wrong in the way of overspending.
Exploring the subject of the fiscal debt and how taxes and tax revenues play into Government money, Moore offers his suggestions for remedying the tax situation and his support of a flat tax. The flat tax is “a tax system with a constant tax rate.” Moore offers his warnings and advice regarding the rapidly dwindling social security, medicare and medicaid money storehouse.
Ending the conversation on the politics and economic policies of a changing America, Moore offers his suggestions for tax reforms so that the future generations will be okay as the economy changes and the fiscal debt remains enormous. Suggestions he offer viewers include:
- Don’t count on government benefits when you retire. Begin saving money at a young age.
- Rise up and take on politicians and tell them to stop spending enormously.
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01.11.09 – 1711
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