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LARRY KUDLOW: Let me bring in Arthur Laffer, I want to get his take on all this, and a few other things. Art Laffer, the head of Laffer Investments, former Reagan advisor and the co-author of “The End of Prosperity.” So Arthur, let’s have a quick lay of the land here from your perspective.
ARTHUR LAFFER: Yeah, what they’re doing Larry is the government is borrowing all the private capital available in the marketplace, then they’re the only ones left to invest anywhere. And it is, effectively, a partial nationalization of not only the banks, but of the auto industries. It’s a catastrophe. And the market is giving it a huge thumbs down and raspberry on these policies. I’ve never seen anything so bad in my life.
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