Art Laffer is Not Optimistic...Neither is the DOW or Me

Economist Art Laffer thinks that tax increases coming in 2011 are going to cause a more severe double-dip recession. That's if you believe that we're in a recovery now. I don't.

Laffer says that the top federal tax rate, dividend taxes and capital gains taxes will all increase significantly. And if you want to leave an inheritance to your heirs, die in 2010 or the US government will take up to 55% of your estate.

Laffer believes that people and businesses are already adopting practices to get their money before the US treasury gets their grubby little paws on it. Sounds right to me. I'd rather lose money than let the democrats marxists redistribute it. Business will just grind to a halt and "the train goes off the tracks and we get our worst nightmare of a severe 'double dip' recession". 

The DOW dropped below the flash-crash low of May 6 to 9816, demonstrating that investors aren't buying politician's stories. Thanks to Obumba and his marxist' cronies criminal assault on america, thugs are making their move. The market senses great peril and liquidity has vanished. DOW 7000?

A world of hurt is coming to americans, economic and maybe even geo-political. Iran is hell bent to start WW3. Even though Obumba will remain neutral, the US will be devastated if the oil stops flowing through the Straits of Hormuz.

We be fecked!