The Continuing Crisis
_9 November passes, and once again our friends the Liberals show us what they are made of, in the main: highgrade rubber, the kind that can be stretched into almost anything. On November 21...
...The pro-growth version of supplyside economics touts the need for investments and for miracles of production, like the development of new resources through technology...
...has a very simple answer...
...But, even with good news, deficits must be reduced...
...On November 16, FBI agents nabbed a 49-year-old man and his two sons in connection with the theft of $267,000 worth of bull semen, which an FBI spokesman asserted is just the tip of the iceberg...
...eIn religious news music lovers owe an enormous debt to the Rev...
...but these elites also speculate on the markets for stocks, commodities, and art...
...A pother of speculation has ensued among Kremlinologists, all of whom have apparently abandoned their elated predictions of liberality from the former KGB head...
...In Montreal, Canada Mr...
...There must be hundreds more such pests in the Republic, perhaps thousands, and it is time that more men of the cloth follow the Rev...
...an annoyance rarely experienced even on US-AIR...
...d) an idea too sublime to be appreciated by the liberal left or the media...
...Although the federal deficits are large and alarming, it is important to keep them in perspective...
...Apparently hundreds of tanks of frozen semen have changed hands since concern arose about Herpes Simplex #2 and AIDS, the emissions of one dairy bull named Round Oak Rag Apple Elevation haying become particularly esteemed...
...ment," though the Judge has never met Mr...
...and more than that face the prospect of maturing in incomplete homes...
...Our only failure is in only going half the way...
...Small wonder Representative Kemp can report "We are all supplysiders now"--er, except for Professor Stein...
...Robert W. Kasten, Jr...
...Jesse Jackson's vice presidential candidate has been found...
...Bagley, who has been known in Seattle as the "cat man" ever since he decided enough was enough and strangled his girlfriend's cat, was paroled in November 1981 with the condition that he live with his parents and not leave the federal judicial district of northern Iowa until 1994, even during hayfever season...
...Andrd Cot~, the antiwar artist, used a crane to dump a five-ton "screaming sculpture" in front of the courthouse where it emitted the sound of diving Stuka bombers, gunfire, and old Hitler speeches, until officials finally shut it down...
...In New York City Nellie Nickerson, the human dinkelspiel, died, and in Boston minutes after Governor Michael S. Dukakis signed a bill providing $2 million in emergency assistance for the needy and after Senate Ways-and Means Chairman Chester Atkins told the signing ceremony that "Massachusetts has a shocking level of chronic malnutrition," the bill's supporters popped open bottles of what the Boston Herald described as "fancy champagne" accompanying "a big celebration cake...
...Likewise, they borrow and lend...
...In fact, the growth in real GNP for the third quarter of 1983 was at an annualized rate of 7.9 percent...
...Alan Reynolds points out in his commentary on supply-side economics, federal borrowing in the first two quarters of the recovery this year fell from 33 to 21 percent of private savings...
...Thomas Woerth of St...
...Raimi South field, Michigan The distinguished contributors to November's TAS forum cannot agree what the supply side is" a) keystone of the economics of growth...
...Here we have the very same people who remonstrate with us about the media's unwholesome violence, and, in furtherance of one of their Liberal mysteries, they blow up the entire world and maudlinly dramatize the ghastly aftermath...
...As Dr...
...for none now suggests that Mr...
...Money can be left in the hands of elites, on the theory that they will invest it creatively...
...The real problem is federal spending...
...Whether you call it SupplySide Economics, Reaganomics, neoclassical economic theory, or just plain old common sense economics, it works...
...It always has...
...Carl "Butch" Baloney suffered obnubilation and worse in Louisiana when it was discovered that the carefree Baloney had voted twice in 1982...
...Joseph C. Mueller, the bibulous jogger charged with having been "under the influence of alcohol and a roadway hazard," was acquitted...
...And, thanks to the recovery, significantly lower inflation, and the personal tax rate reductions, working Americans are keeping more and more of their personal income...
...Rather, the wise money now wagers that he is about to become a ghost...
...Yet her sexual metamorphosis was not without bugs, for now Jennifer stands accused of having fired her service revolver at a bartender in the elegant Holiday Inn at Rockville Centre during a debate over the price of a $3-glass of scotch-not a very ladylike deed, though admittedly she only grazed him...
...Bizarre sexual practices continue to lend charm to life in greater Baltimore...
...It fails to inquire whether actual patterns of investment and speculation--heavily in petroleum production and exploration, (continued on page 46) THE AMERICAN SPECTATOR JANUARY 1984 7...
...These are not failed economic policies...
...The original application of supplyside economicsmsometimes called Reaganomics--proposed lower marginal tax rates, less government spending, fewer government regulations, and a stable monetary policy...
...2) a belief that technology will overcome frequent shortages and yield new resources...
...Think of it...
...The antiredistributionist version protects capitalist incentives...
...Bagley's parents or lived in Iowa...
...The Say's Law version of supply-side, advocated by George Gilder and Professor Galbraith, holds that there are two basic classes: producers and consumers of goods...
...District Judge John Coughenour decided that ordering Mr...
...ePretty Miss Jennifer McCormick is back in the news...
...The African Football Federation has banned Stationery Stores, one of Nigeria's most redoubtable teams, from all African competition for three years and closed the team's stadium until April 1984 in response to a riot by fans who accused a visiting goalkeeper of using magic...
...The promising political career of Mr...
...Then they set up counseling sessions for those who cracked under the strain...
...Yet do-gooders were unimpressed and once again attempted to spoil Thanksgiving dinner for the rest of us by droning on about the woebegone American Indians' penurious lives...
...Roscoe R. Nix, identified by the venerable Washington Post as "the normally mildmannered president of the Montgomery County chapter of the NAACP," became cacelocutionist of the month when he declared that the public's opposition to a county ban on South African wine "proves what many of us in the black community already know: That affluent, racist rodents who live in Bethesda, Chevy Chase, and RockviUe are more a t h r e a t . . , than the Ku Klux Klan and the Nazi Party...
...This doctrine is misleading...
...What incentives have these youngsters to learn, if their lot is to be consumers, or workers in enterprise zones where the pay is below minimum wage...
...but harsh justice prevailed in Seattle where U.S...
...Yuri V. Andropov failed to appear atop the Lenin Mausoleum with the rest of the progressives during the annual Revolution Day parade in downtown Moscow...
...Joseph's Catholic Church in Fort Collins, Colorado, who finally heaved a lady tambourine player down a flight of stairs when her nonsensical flailing at 5:15 mass became unendurable...
...This talk of supply-side economics can and will produce no intelligent vision of the social and economic future...
...Hughes Bagley to serve parole in Iowa with his parents does not constitute "cruel and unusual punish...
...United States Senate Washington, D.C...
...This is a great work and important...
...I suggest small donations be sent to him now, for he has been charged with thirddegree misdemeanor assault...
...When money circulates among the elites, many of the masses will remain unemployed, not benefiting at all from elite "creativity...
...We may not have gone far enough in implementing some of these provisions--such as less government spending and a stable monetary policy--but what we have done is working...
...Endless talk about incentives is largely irrelevant to the realities of American civic life: more than a third of children born out of wedlock in several major cities...
...The antiredistributionists omit that social security goes to the retired, who are often bedridden and senile, and who face incessant and inordinate demands to pay for medical care and nursing service...
...Actually our genial President has confounded his opponents once again, for a Washington Post poll of viewers showed their fear of nuclear holocaust to have diminished and their support of the President to have increased by two points to a robust 65 percent...
...Political and economic elites experiment creatively in the production of goods and services which will satisfy the inchoate needs and wants of consumers...
...The community must recognize this danger and seek to quarantine i t . " The Rev...
...The offending goalkeeper was beaten up by ball boys and supporters whose sense of fair play was aroused when they spotted him burying a "juju" behind his net...
...Soviet medicine suffered another black eye on November 7 when Soviet leader Mr...
...and 4) a rejection of the policies of promoting sunrise and executing sunset industries under federal aegis and of retraining people to function more effectively in the economy...
...They may wear Brooks Brothers suits . . . . But they are very dangerous to Montgomery County's racial climate...
...9 In Stockton, California a storehouse containing five million pounds of walnuts exploded causing more than $2 million in damage to the Diamond Walnut Growers' plant and sending authorities scrambling to their Korans to investigate whether walnuts may be haram according to the Islamic whoop whoop, thus explaining the blast's mysterious origins...
...In Cincinnati, Mr...
...I congratulate you and your journal...
...Through sustained economic growth--the sort we have now--and less government spending, we can get the deficits under control...
...Miss McCormick is the Nassau County, New York policewoman who made Nassau County history last summer when she emerged from the operating room as officer Jennifer rather than officer Joe, her identity before the surgeons drew their scalpels...
...In Lincroft, New Jersey a 5-foot-2, 600-pound medicine man, Chief Wise Owl, appeared just before Thanksgiving at the local hypnotism clinic vowhag to lose 160 pounds because "it's hard to get girlfriends when you're as 6 THE AMERICAN SPECTATOR JANUARY 1984 large as me...
...and if their parents drift from public assistance to low wage jobs and back again...
...We have made a great start, and at this point, it does not make sense to give up...
...It does not inquire into the need for incentives to care for parents or progeny, handicapped kin, or indigent friends...
...b) an invalid assertion that a large across the board reduction of individual income taxes in an economy of continental size will probably result in an increase in revenue, or at least an increase in total revenue plus saving...
...Consumers can only react to and ratify elite creativity (Gilder, Wealth and Poverty, p. 53...
...They can't turn it off immediately," crowed the triumphant artist, "to stop it, you have to lift it...
...People both produce and consume individually, in families, and in institutions...
...Just finished reading your monumental symposium on Supply-Side Economics...
...Andropov stayed home in protest of the parade's militarism or to do some gourmet cooking with the wife and kids...
...Every supply-side school offers parallel fallacies...
...The inflation rate for the last 12 months was less than 3 percent...
...On November 21 ABC broadcast "The Day After," a soap opera about nuclear holocaust, and the Liberals were ebullient, publicizing the great event as widely as possible, encouraging "discussion" of its doltish message--which is to say reiterating its message--in schools, churches, the emergency rooms of hospitals, wherever a propagandist can get a foot in the door...
...The Washington Post reported that those 70 carpenter ants flown aboard the space shuttle Challenger last June died of dehydration hours before take off...
...c) an approach to strengthening the private enterprise system which features: 1) steady moderated expansion in the money supply and a contraction of the public sector, including social spending...
...mA.L...
...The ants were the victims of would-be scientists or sadists from Camden and Woodrow Wilson high schools in Camden, New Jersey, the site of the oldest steel pen company in the United States and obviously a very feeble insect rights movement...
...3) a rejection of income redistribution...
...Then they blame Ronald Reagan for forcing us to live in fear...
...Woerth's example...
...RET Supply-Side Reality The question you raise in your November 1983 Symposium--"Is Supply-Side Economics Dead...
...Currently, the United States is experiencing an ecomJmic recovery so strong that it exceeds the 1961 record recovery...
...Often, producers bring forth products that do not sell, that frighten or threaten to trap people into patterns of consumption which they reject: J-cars, nuclear power plants, $40-per-barrel synthetic fuels...
...If lenders do not offer money at affordable rates, and people refuse to "save" at institutions that can offer lower rates, then commerce will die...
...And Mr...
...Seven members of the House of Representatives asked the House to impeach the President owing to the continued presence in Grenada of his fact-finding mission (see the accompanying picture...
...It is clear that supplyside economics--which never promised instant miracles--is working...
Vol. 17 • January 1984 • No. 1
