Art Laffer & Steve Hanke: Is Great Depression 2.0 And Poverty Coming?

Arthur Laffer, Chairman of Laffer Associates and Steve Hanke, Professor of Applied Economics At Johns Hopkins University, discuss the biggest problems the economy faces and how to solve them.
*This video was recorded on May 15, 2024
Listen on Spotify: open.spotify.com/show/510WZMF...
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FOLLOW STEVE HANKE:
Twitter (@steve_hanke): / steve_hanke
Email: [e-mail]
FOLLOW ARTHUR LAFFER:
The Laffer Center: laffercenter.org/
FOLLOW DAVID LIN:
Twitter (@davidlin_TV): / davidlin_tv
TikTok (@davidlin_TV): / davidlin_tv
Instagram (@davidlin_TV): / davidlin_tv
For business inquiries, reach me at [e-mail]
*This video is not financial advice. The channel is not responsible for the performance of sponsors and affiliates.
0:00 - Intro
1:41 - 5 pillars of prosperity
7:50 - Free trade
12:00 - ‘Green socialism’
18:30 - Free trade with hostile nations
25:50 - Tax policies
34:30- Biggest economic problems
37:35 - Argentina
42:20 - Bitcoin
47:20 - Private money
49:20 - Advice for young people
#economy #economics #investing

[@craiglefeber4293]

The best moderator you don’t notice, the guests are the stars, just steer them in the right direction.

[@Chuck68ify]

EVs aren't green and CO2, .04% of the atmosphere, is not destroying the planet, or warming the atmosphere. Such dangerous nonsense.

[@mashambrequeenel4280]

contrary to the current trend of interviewers that 1. don't let the interviewee reply and 2. answer their own questions themselves

[@bcrudup1]

Facts!!!

[@ykhov]

And asking great questions. David Lin is a rising star.

[@wheatcandle]

David Lin is a master of this journalistic practice.

[@scepisle4970]

The kind of quality in-depth debate we never see on CNBC....... well done David... ❤

[@michaeljacobs4546]

Yep instead of this you get Jim Cramer's ranting on CNBC.

[@v3rtig035]

Two economic titans having a great discussion. Both in their twilight years, but both sharp as ever. It was a joy to watch.

[@ericdaniels4650]

Both of these men are absolute icons in their area of expertise. I graduated high school in 1987 in Maryland, both these men were discussed in our teachings of current events. Excellent debate allowing the two stars to shine as they both deserve. Art Laffer still has the spirit of the Reagan days with his jokes and ability to slice through sensitive topics. I still look back at Reagans many jokes and how he brushed off opposition while cracking a joke in the next breath. Absolute brilliant display of wisdom and knowledge from our elder professionals. More intelligence between these two men than the entire white house today.

[@michaeljacobs4546]

Their combined intelligence may surpass the current entirety of the Swamp.

[@memphistennis1691]

OMG, did you drink the KoolAid. Reagonomics simplified: Bust labor unions, cut taxes on the owners, back to the Guilded Age of latter day Robber Barons, chop wood in cowboy boots for the cameras to act a hero to the common man while silently conducting economic warfare on said common man.

[@mulatto2776]

David Lin with another high caliber debate.

[@MH-53E]

This isn't a debate. These guys are butt buddies as far as I can see...

[@therealestake]

This was comedy gold. Even David Lin got in on it: "Connecticut... is a state a lot of people want to move to." And Laffer has an Obamaphone. These guys are where I want to be when I'm 83.

[@25Soupy]

David, you have to bring Laffer back, he's great.

[@Radio280]

I like Hanke better

[@gtf5392]

@25Soupy - watch Peter Schiff va Art Laffer before the 2008 crash and see if you still feel the same way.

[@PJ_MIKE]

David, thank you. You do have the best financial podcast on KZbin. The ability to get these esteemed gentlemen together is awesome and appreciated.

[@Heyjadid]

This was one of the best shows! Economic intellectuals demonstrated that staying sharp well into your 80s doesn't require a technology device.

[@Th3_Hoff]

Art laffer is the man! Bring him back for his property tax theory!!

[@jaredcrenshaw7665]

You people truly have no clue what Laffer was about.

[@Th3_Hoff]

Famous for the Laffer curve that describes diminishing returns when taxes increase. I'm not a soy boy socialist so I can understand facts and appreciate his work. ​@@jaredcrenshaw7665

[@jstro7136]

​@@jaredcrenshaw7665 what is he about?

[@scott7521]

Art's 83! Damn... he's sharp as a tack and looks good for 83.

[@Ilovemymalteses]

He should be the president not Biden.

[@Blueblackngold]

Art owes Schiff

[@scott7521]

@@Blueblackngold Schiff is a dink.

[@Myndir]

@@Blueblackngold Yes. Pessimism is noticeable when it's right, but optimism in the long run is the better attitude for a capitalist economy. Adam Smith, not Robert Malthus.

[@reggiebishop5398]

Before watching this I know we're in for a great show and likely humorous. Love professor Henke

[@sharonkowaleski1267]

The fact they un-plug keeps their brain functioning on a higher processing capacity!

[@genestone4951]

These two guys are GREAT. Thanks for having them on.

[@SmokyPemberton-te5oq]

I never would have thought Dr. Hanke was older than 70.

[@fillmorehillmore8239]

Commented early just to say that I am looking forward to this. David is a great moderator and people respect him.

[@shanesteele778]

This is the one i was waiting for David you have the best guest best show

[@arctan64]

Art Laffer is such a badass, I'd be friends with him in an instant.

[@dineshka3]

Two amazing minds with a moderator of the highest caliber. Thank you David so much for these. We continue to learn.

[@ALANGREENSPAN420]

🥊🧠OLDIES but GOODIES🥊🧠

[@simrans3675]

All-star guests this time! What a privilege to live in a time where you can listen to their wisdom with one click :-)

[@Marcus1954s]

I felt as though I had a front row seat on the truth of economic and money reality....then a second later I realised I did. Amazing. Best discussion I've seen in years.

[@jasonclement6305]

Nobody else doing this. Great work David.

[@charlespatton4470]

The best moderator and guest every time. This channel is gold!

[@user-tx5vr7jl3q]

Thank you so much. Mr. David Lin, Dr. Arthur Laffer and Mr. Steve Hanke.

[@virgilv]

Excellent again. I watched it twice. These guys are national treasures!!!

[@LeRalph2016]

By far, the Steve Hanke interview with another person on the Panel is invaluable. We learn a lot.

[@strawberrycupcake937]

Professor Hanke is the man!!! 81

[@jonswanson7766]

The great John T. Flynn was once introduced as an Economist. He was then asked what is it an economist does. He was actually a trained lawyer, a graduate from Georgetown. He quipped "God knows, ask him!"

[@AS-gf5jn]

2 of my favorite. Glad to see they're friends! Nice work Mr Lin!

[@user-rl5wm1cm1k]

The U.S.A. today : Wealth is based on the family you are born into, who you are friends with and who you are friends with. 😅

[@carloschu7127]

Believe me or not, thats Astrology. Specially where the Venus, Mars, Jupiter and Saturn are, in which position.

[@imjustalilbit]

Tell me who you are with and I will tell you who you are

[@sandburgmartin7947]

"Takes money to make money".........and not talking about printing more !!

[@DarkSagaOfGreece]

Amazing. I had a great time with both of them. Amazing interview. Loved it!

[@seriouslyyoujest1771]

81, and 83, I’m 64, and you two look great. So do I.

[@Ermz]

What an amazing conversation. Your channel is a gem, David.

[@chrysisd]

Mr Laffer and Proff. Hanke are two completely opposite characters that are both very intelligent and experts in their field. Their understanding of how economy works and how each parameter affects it is so eye opening. David you are a great host and you know how to pick the right guests 👏 I truly wish i could some day meet you all in person.

[@damianrhea8875]

OMG ! You 3 gentlemen together are a Gold Combination ! Thank you so much !

[@markgrunewald4657]

Steve ...sadly correct..our country needs to grow some balls . Were cow towwing

[@alexlakis810]

Podcast of the month, these 2 need need to be a bigger platform.

[@fillmorehillmore8239]

Agreed, but they have opinions of foundation and not the glitzy statue.

[@tow.JanWinnicki]

Damn David. You’re getting some class A mofos to debate. Love it. Serwus!

[@Shibafan]

That’s why we love your channel David. Just keep doing what you’re doing in bringing the best financial and economic minds we have and giving them a forum to discuss and debate their views. Thank you 🙏.

[@ats89117]

Incredible discussion with two living legends!

[@vglow5271]

Wow Dynamic interview! Two legends....Thank you

[@LeBaronDoan]

Great Job interviewing these two guys David...very educated intelligent conversation

[@mutantryeff]

USDA SNAP cards are the invisible bread lines from the 1930s. About 12% of the US population is in those invisible bread lines. The percentage may actually be higher as many children don't directly hold SNAP cards, but are part of the overall population.

[@deanmyers453]

No reform or change either , without return to Constitutional Money !

[@MasterRoss-sn7dl]

Ahhh yes

[@jessejohnson7591]

Just awesome!!! I have the utmost respect for all three of these fine gentlemen.

[@Mustang85635]

God damn Art is sharp for 83 insane!!!!

[@richardsacchetti6967]

That was absolutely awesome, loved them both!!!!!

[@rustyscrapper]

I remember playing a civilization building game that incorporated the Laffer curve into the economics of the game. You built cities and collected resources like many games, but one of the functions of the game was taxation of the cities. The way it worked was, you had to attract population to the city to create workers or military. If you lowered taxes population would increase faster and workers would produce resources faster. If you raised taxes above 30% your cities would begin losing population and workers produce less resources. The peak efficiency was 30% however most players kept tax rates at 0% to attract population the fastest and sell resources to get gold instead of taxing. If you were fighting a war you always wanted to put taxes to 0% so that you could recruit military faster. There was a strategy to collect some gold quickly which was to build up thriving cities then increase taxes to 50% and for a short time you could collect more gold but your population would start leaving and resources and military would decline so you had to do it for only short periods at a time. If you raised taxes over 80% your population would rebel and destroy your own cities after a while and military would desert. It was a really interesting game.

[@eduardom.ferreira2767]

Beautiful interview, so powerfull thinkers! Thanks a lot David!

[@caker65]

this is some first level stuff you have going on here. you have definitely stepped up your game man!!

[@mister5520]

David, I watch you shows more and more.. Really enjoyable. Thanks

[@belindacardoso3274]

What a pleasure gentlemen - I thought everyone had lost their sense of humor already.

[@mulatto2776]

Gold will always have fundamental value because it is the best conductor of electricity. It doesn't tarnish, rot, rust or spoil and it can easily be identified, tested, measured and divided. It's only problem is that it can't be sent at the speed of light.

[@imjustalilbit]

Not so easy to identify when people in China are being wiped out after purchasing fake gold bars

[@PinballBob1]

Actually, silver is the best conductor of electricity.

[@mulatto2776]

@@PinballBob1 true, until it tarnishes .

[@imjustalilbit]

Gold not so easy to identify these days as people are losing their life savings in China when they purchase fake gold bars

[@sandburgmartin7947]

​@@PinballBob1unless it's used in chips and micro-boards.

[@aliburney8466]

The only guest on Lin's show worth listening to

[@Marcus1954s]

Many people are worth listening to, even if you don't agree with them; which is normal.

[@user-ov7fd9of5u]

Never been disappointed by David’s show even if I don’t completely agree with guest

[@rd24life]

Jimmy Carter is the one that brought in Volker. He did the hard work during his presidency and then Reagan benefited from lowering interest rates and from massive increases in the federal debt spending. Reagan is the beginning of the massive debt problem and wealth gap problem we have now

[@CrodjMBA]

just like drumpy

[@robertfrey3880]

And so did Reagan and the inflation rate didn’t go down until 1983 to 3% and it hit its peak in 1980 so maybe do some research before you give Carter credit

[@rd24life]

@@robertfrey3880 Carter started the hard job during election time. Reagan only had to finish what was working long before an election. That is a fact

[@rd24life]

@anotheruser5654 I’m not a dem, I’m just capable of the truth. Are you?

[@robertfrey3880]

@@rd24life actually it was Paul Vollker cater still goes down in history as one of the worst presidents but who cares and in the 90s Reagan’s policies made it boom but everything I read about history it doesn’t matter who is the president we are still going to have a recession and it’s going to be really bad and it was because in 1913 they made the federal reserve and income taxes

[@rodneyr908]

You hit a home run with this interview. In my opinion, these are two of the best economist, and they gave very insightful responses to the questions.

[@abrahamnorthhampton3327]

It doesn't get any better than that. Great work, David!

[@passiveincome1092]

First. And Hanke is my favorite

[@marycooper8385]

Yes he just let's them speak And sits back

[@annakovacs370]

We are blessed to hear such great wisdom. It is a shame that these strategies are not implemented right now. Can't somebody get this to people in power?

[@noellecms]

I wonder when David Lin is going to land a big contract with some of these big news platforms.

[@ScottishTerrorsInLA]

He said he’s never going back to Kitco so probably not interested

[@noellecms]

@@ScottishTerrorsInLA I don’t consider Kitco a big financial news outfit.

[@user-tl6xt2cm5y]

David, you have done many excellent interviews. This style is your best. And two legends at the same time! These guys gave us all the answers we need.

[@tenplus1025]

D Lin!! Holding it down! Show is 2nd to none

[@davidday9251]

What a treat, Mr. Lin. You are going from strength to strength and attracting great guests.

[@Namegoeshere-op9hg]

Whoa. Laffer and Hanke? Wow.

[@bmacaz]

Best podcast on the planet hands down 👏 ❤

[@markbrzezinski8889]

Fantastic! Two old knights fighting it out. Learned so much. Thank you.

[@Dan-yw7sy]

When 2 men this caliber are BOTH being interviewed by an entrepreneural REAL journalist, you drop whatever your in the middle of and listen. Great video!

[@erikavarga7060]

David, you nailed this interview with these great guests.

[@markmoey115]

UNBELIEVABLE GUESTS!!!! HANKE AND LAFFER. ICONS!!!!!!!!!!!!!!!!😀😀😀😀😀

[@markgrunewald4657]

Looking forward to Good discussion

[@ALANGREENSPAN420]

🚨SILENT🚨DEPRESSION🚨

[@ALANGREENSPAN420]

@anotheruser5654 always! I like David’s Channel too!🪙🧠🤘🏻

[@LuckyNice19]

Laffer really lives up to his name. Appreciate his vibes

[@MichaelHunterSD]

These are historic talks. Well done David. So freaking proud of you brother. And men, absolute pleasure. I wish we had more leaders in all areas like you. Even if they disagree, the ability to have productive discourse across different opinions is critical for us to get out of this mess. Thank you. Truly.

[@therose5138]

Excellent show David!! Love these two guests!! ❤️

[@florianewu7256]

This historical context is so vital to pass onto all of us. Need to disseminate their legacy of facts, data and patterns; so we do not repeat the mistakes. Those who do not know history, are destined to repeat it. I choose to learn, grow and hope! Ty gentlemen!

[@meysamramezani3087]

Thank you so much David for bringing these gentlemen on the show.

[@markgrunewald4657]

Both look and have great attitudes

[@kane7346]

I just heard an interview with professor wolf and none of this was brought up. A real interview with actual thoughts. Thank god.

[@Chuck68ify]

I must say, as a residential developer in the 70s in California, the raging inflation was behind Prop 13, skyrocketing yearly appraisals were running people from their homes.

[@bcrudup1]

We are blessed to watch two living legends right now!!!

[@mattjhawken]

Thank you gentlemen. I was waiting a long time for this!

[@benji88]

Legend's, intelligent wise men with a great sense of humour. I can listen to them for hours. ❤❤❤❤

[@eramg6324]

Dr. Laffer, I laughed at your Kermit joke. I hope I’m as sharp as you guys should God allow me to get to your vintage.

[@SuperSavageSpirit]

Warren buffet and charlie were both super sharp for their ages. The more you use your mind and learn new things it helps

[@LarsLarsen77]

He should do standup.

[@madebeen]

This is the BEST interview put by this show EVER!!!

[@kevintran5035]

The best guests today. Thank you

[@bradw2k]

What an outstanding interview! So much to learn from two who actually know economics -- unlike many ideologues and poseurs on KZbin.

[@kali542]

great minds & so much experience, bouncing off each other. What a gift to listen to. Thanks so much!

[@cryptocrazy726]

I really enjoy these two learned gents. Also credit to you for allowing them the space to engage and elaborate on some key themes. Thank you David

[@ThrashLawPatentsAndTMs]

Amazing guests & engaging interview, @David!

[@JohnLin-kg5eu]

Amazing show with these two economists!! Thank you, David!

[@damncars2618]

Holy Dyna sauerkraut Batboy!!! The greatest hit line-up is still full of firearms.

[@MrJuanete12]

Thank you for putting this together David! True wisdom here...

[@ArcGlowingVision]

These two are super enjoyable to listen to. Thank you David.

[@damianmousley2098]

First class podcast Well done David.

[@dm3988]

So refreshing. Two economists who make sense. Excellent Interviews.

[@ALANGREENSPAN420]

🚨BLACK🚨SWAN🚨SEASON🚨

[@jasonclarity5604]

Great interview and discussion. Brilliant guests.

[@astralislux305]

Great, great discussion.

[@eponaepona]

An excellent eposode, David I love your versatility of speakers and your dediction and constant inflow of episodes ❤❤❤

[@freeroamer9146]

One of the best most informed interviews I've heard in a long time! Two thumbs up 👍👍 stands to reason!

[@jonathonwagner2166]

David….you just keep killing it! Great content! I’ve watched you since you took over for Neals at Kitco and you just keep getting better