13:40 With the passionate voice of a preacher, Herman Cain said he had some good news, some bad news, and some more good news. The good news is the American dream is alive. To illustrate this, he told the story of when his dad bought the families first detached house after years of living in a three-room duplex. But the American dream is under attack by the ?-ations? taxation, regulation, and legislation. The other good news is that ?You can make a difference.?
13:50 Congress is like a giant high school student assembly with money. Health care will no longer be half free and half government. Internet, talk radio and the grass roots are threatening and the FCC will crack down under a leftish president. Reagan?s example provides cause for optimism. As he said in 1964, there is no choice between left and right, but between up towards freedom and down towards totalitarianism.
14:00 Art Laffer in August 1982, the DJIA was 777. Today it is 14,000 thanks to supply side economics. Good solid supply side economics policies have provided tremendous benefits like this with low unemployment, high corporate profits, . Capital and labor have both done well. We are the capital magnet of the world. The trade deficit is really a capital surplus. But Democratic candidates don?t like trade, immigrants, Mexican trucks, In August 1964, the DJIA had an intraday peak of 1,000 points. The real rate of return per year from 1964 through 1982 was minus eight percent (-8%). Acting the same way as Johnson, Nixon, Ford, and Carter did will yield similar results
14:15 Steve Moore talked about the book he and Art Laffer just completed, Rich State Poor State. Moore cited the challenges in Michigan, Maryland, and Wisconsin. Three key issues are global warming (the biggest scam of the last hundred years, simply an effort to strangle the economy), health care, and the tax code.
Taking a break until the 3:30 session, which will go through nine issues in ninety minutes.
