Today is no 1981

Interesting perspective expressed in this clip that Reagan’s tax reforms passed in August 1981 because the government was brought together for a few sympathetic months after he had been shot in March 1981.  Stockman actually witnessed these events first hand serving as a Republican U.S. Representative from Michigan (1977–1981), and as Reagan’s Director of the Office of Management and Budget (1981–1985).  Here is a direct video link.

I outlined the profound differences between today and 1981, in terms of economic and market cycle–tax and debt levels, interest rates, demographics, growth outlook and asset valuations–in my discussion with Kerry Lutz yesterday; will post asap.

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