That is a British colloquialism, if you were wondering, and that is what capitalist cheerleader Larry Kudlow is saying as he commends the vital work of the Justice Department prosecutors in bringing corporate crooks like Ken Lay and Jeff Skilling to justice—and hopefully to jail.
And, we hope, scaring a million other businessmen who might be tempted. For who is as pure as Caesar’s wife?
I’d say that a major motion picture jail term for major motion picture fraud ought to send a message.
But in the glow of our continuing Reagan economy, now restored after the crisis of confidence in the wake of the Enrons and their frauds, let us not forget, says Kudlow, the nadir of our great US economy.
In the 1960s and 1970s, the murderer’s row of economic morons &mdas; LBJ, Nixon, Ford, and Carter — in allegiance with their liberal Keynesian advisors, concocted a socialist policy mix that ultimately led to wealth-destroying big-government stagflation.
Yeah, thanks for nothing, pals. But then came the reign of Ronaldus Magnus, and the US economy “became the envy of the world.”
Since the early 1980s, more than 46 million new jobs have been created, with inflation-adjusted GDP increasing $6.2 trillion, or 120 percent.
And stock prices are up 900 percent since 1980.
There’s a downside to all this, of course. That giant sucking sound you hear is the sound of the blindingly successful US economy sucking workers in from all over the world, and in particular from Mexico, an unhappy land of corruption and incompetence in economic governance.
And there is no excuse, not any more, for economic incompetence. The chaps in Estonia read Milton Friedman’s Free to Choose, implemented its policy recommendations, and shortly thereafter became e-Stonia, doubling GDP in a decade.
Of course, they made one little mistake, the silly naifs. They thought that the west had actually implemented Friedman’s ideas. Little did they know, as they implemented a flat tax, that they were the first, after Hong Kong, to try it out!
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