Laffer Sued Over Ponzi Scheme, Cheap Cottage-Industry Manufacturing: The Two Best News Items You’ll Hear Today
Posted by Phoenix Woman on January 12, 2012
Two bits of news you won’t find at any “NewsRight” affiliate, but which may be the most important things you read today:
– You always knew supply-side economics was a con job. Now we see that its popularizer, Arthur Laffer, is being sued over an alleged Ponzi scheme (h/t The Exiled, which has it in its “What You Should Know” news sidebar today):
HOUSTON (CN) – Fifty-two investors claim fund managers associated with supply-side economist Arthur Laffer took $3.1 million to prop up a Ponzi scheme, then said nothing as their money was “wasted with no reasonable expectation of recovery.”
Lead plaintiffs Ronald and Lavonne Ellisor sued David Wallace, Costa Bajjali, and their entities Wallace Bajjali Development Partners LP, Wallace Bajjali Investment Fund II LP, the Laffer Frishberg Wallace Economic Opportunity Fund LP, and Arthur Laffer in Harris County Court.
Laffer is best known for the Laffer Curve, an economic theory that says reducing taxes will increase government revenue. He was a member of President Reagan’s Economic Policy Advisory Board during the 1980s.
– This is a game-changer, folks:
I have been aware of 3D printing – the ability to create out of plastic what ever you can design on your computer – for a while. But except for those who have built their own, it has been put of reach to all but engineers in large corporation and research facilities.
That is until now. According to this report from the CES in Las Vegas, there are a few companies that are now going to offer or are already offering this technology to the average (more or less) consumer.
And as the diarist notes, the device costs less than $2,000.
For not much more than a couple of house payments, or what you’d plunk down for a top-of-the-line gaming desktop machine, you can run a machine shop out of your home.
Think about that for a moment.
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