Reaganomics is a failure

Nuh-uh. Nope.

Reagan's unprecedented borrowing of money is what enabled the expansion.

The tax cuts had very little to do with it.

Not really. Most of the non-existent money went into the defense industry, and that and all the service industries around it prospered.

Because of that then, there were the predictable increases in housing starts and shopping malls and so on.

But none of that money went into... say.... healthcare. In fact, Reagan cut federal healthcare participation dramatically, that whole industry didn't do very well under Reagan.

What you saw is an expansion funded by borrowing. In Reagan's case it happened to work... (somewhat, although there were significant longer term implications). Not everyone is that lucky. Bush wasn't that lucky. (Junior I mean).

Oh my goodness.

The tech boom was made possible by the breakup of Ma Bell, which is what spawned the entire cell phone industry, including all the chip makers that support it like Qualcomm and so on - big name stocks.

The defense industry loved this tech boom. The Supreme Court loved this tech boom. Law enforcement loved this tech boom. And of course the enterpreneurs. The bubble burst though. Multiple times, it seems.

 

If Reganomics is such a success name what policy that changed and when that turned US economy to crap where 1% owns 60% of America and 50% of Americans earn less than $20,000 a year.

 

I'm sorry but it wasn't Reaganomics that led to the crash of the economy. Your listening to too much Democratic bull crap. It was the housing industry that brought it down and the Democrats had a big hand in doing that, forcing banks to loan money to the poor to buy homes when they couldn't afford it.

 

Those are talking points.

Neither is true, both are highly misleading.

What is true is that the opportunities for worldwide economic exploitation are drying up. That and our politicians are myopic, they only see immediate money and they fail to consider the longer term view.

Do you know how many millionaires there are in the US? Lots! Lots and lots and lots.

And... how many of them, do you think, might earn less than 20,000 dollars a year?

What matters is that our labor force participation rate is down a full 3% since the Big Eared Clown took office. Guess where the biggest dings are? They're in every one of the industries that make extensive use of the H1B visas. Computer hardware and software. Accounting. Medical technology. Basically what you'd call "high tech" and "highly skilled" industries.

There's a fundamental truth in play, which is that the upper middle class is also a part of the middle class. Ding them, and you ding the most important part of the middle class - the people who create all the inventions, and the people who pay all the taxes.

I'm not very concerned about the service industries, after all most of them are unionized and they can fend for themselves. And I'm not very worried about the part time jobs either (except to the extent that there are more of them), I figure if you're flipping burgers for a living it's 'cause you have no other marketable skills. So you can get off your butt and learn something useful, or you can keep flipping burgers. I know people with four kids who've made it through college flipping burgers, there's no such thing as being locked in.

 

So site exactly what policy and when that policy was implemented that reversed the policies of "reaganomics"?

Banks have been loaning money to people who can't afford it since the 1970s. The US 1974 housing-mortgage crisis was nothing new even then. Why should 2008 be any different? Because it's bigger? A Bubble is a Bubble.

Why is it 1% own 60% of America and 50% of Americans earn $20,000 a year? Is America a 3rd world economy?

 

What brought down wages and also hurt the economy along with the housing industry was NAFTA and Free Trade. We had hundreds of factories that paid good wages leave for Mexico, China, India and South and Central America. Taking those good paying jobs with them.

[video=youtube;Rkgx1C_S6ls]https://www.youtube.com/watch?v=Rkgx1C_S6ls[/video]

 

Yawn, they already have statistics on total income including dividends/capital-gains and the top 1% dominates there too earning over 40% of all available income in the US.

Texas is dirt poor, making dirt poor jobs, for dirt poor peasants. It's ok Russia went through this too. Communism was the only way foward. Modern Russia is now back to (*)(*)(*)(*).

 

Also what hurt wages is Carter's deregulation that eliminated thousands of union jobs and his law Carter put in place eliminating Federal workers from striking

 

You Democrats have been fed so many lies, it's no wonder you guys don't know what brought down the economy and wages. All they know what to say is blame Reagan. Reagan left a booming economy when he left office. Wages were up, unemployment and gas prices were down and over 18 million jobs were created.

 

True dat.

Talk about a completely idiotic oxymoron - "Free Trade" is anything but free. It's protectionist, it's favoritist, it's even crony capitalist, but "free" it's not.

SSDD. Politicians trying to sell us idiotic sh*t. Sometimes they get away with it, when they can baffle enough people with their bullsh*t.

 

Here was the start of lower wages.

However beneficial Kahn’s work has been to the American flying public, it is only one of several keys to unlocking one of the biggest fallacies ever foisted on the American public. That fallacy is that the policies of Ronald Reagan are the primary cause of the fall of private-sector unions. The fact of the matter is, they are not. Reagan’s policies are not what has busted unions over the last 30 years. In fact, it is the work of Democrat Jimmy Carter and his deregulators that has had a far more detrimental impact on unions than Reagan ever did. In addition, it is also why, regardless of the efforts of union bosses and their Democrat stooges in Washington, despite a potential temporary upswing, no amount tinkering with the National Labor Relations Act will enable private-sector unions to regain their footing in a 21st Century economy.

Ronald Reagan & the Left’s Re-Writing of History

Union bosses, Democrats and their sycophantic followers on the Left have been allowed to rewrite history for 30 years. Despite evidence to the contrary (see chart at right), they have largely cast blame for the fall of unions on “The Reagan Era,” blaming Ronald Reagan (and, later, his Republican successors) for the massive decline in unionization. Sadly, for those of us in the union movement during the 80s and early 90s, like Pavlov’s dogs, we believed The Big Lie—unfortunately, many still do today—that Reagan and Republicans are the cause of the union movement’s demise. The fact of the matter is, by the time Ronald Reagan was sworn into office the die had already been cast: Private-sector union membership in the United States had already begun its free fall, aided by market forces and the deregulatory push that the Carter administration put in place.

The simplistic view of Ronald Reagan, the union-buster, stems from the 1981 PATCO strike and the “wide-spread union-busting” that followed in the private-sector. The problem with the anti-Reagan meme is that it completely ignores broader, more structural and consequential factors that led to the decline of unions.

While Ronald Reagan did fire more than 11,000 air traffic controllers when they engaged in (as federal workers) an illegal strike less than a year after taking office, the strike contingency plan Reagan deployed had already been developed under Carter.

http://laborunionreport.com/2011/04...ions-president-jimmy-carter-the-union-buster/

 

Obviously you haven't been to Texas. You're blowing smoke, you should stop opening your yap and flaunting your ignorance. You're not accomplishing anything except earning a place on someone's ignore list.

 

Besides Carter's deregulation that hurt unions badly, Carter also started this that prevented Federal workers from bargaining over wages. It was with this law that made Reagan fire the air traffic controllers after several times refusing to go back to work, even though the government gave them several wage and work packages.

UNION DEBATE BOMBSHELL - Federal Employees CANNOT ...
www.ar15.com › General › General Discussion
... Through the Civil Service Reform Act passed by Carter in 1978, Federal Workers have since then ... Those federal workers cannot bargain for wages or ...

 

So you want to know the truth of what brought down wages, what caused the rich to get richer and the poor to get poorer? It was deregulation, that eliminated thousands of union jobs. It was the Civil Service Reform Act that kept Federal workers from bargaining for wages. It was NAFTA and Free Trade that took millions of good paying jobs out of the country and it was the Housing industry that brought down the economy. Most of it caused by Democrats. Not Reagan and not Bush.

 

I will say this, Many of the past Presidents pushed Free Trade and Reagan started it with Canada. Although Canada wages was on par with ours so it didn't hurt. But Mexico wanted in along with some of the other Central American states and Bush Sr. let them in. Their wages weren't on par with ours. Then Clinton expanded it more with China and India. Theirs also was not on par with ours and also hurt us. We wanted to have a trading block to match that of the European Union. Trouble is, the European Union were trading with like countries. Only Canada was close to ours, so many countries left the U.S. to go to these cheaper wage countries. That didn't happen with the European Union and they kept many of their factories.

 

Even before all this happened, back in the 1960's Japan screwed us left and right and our country sat back and let them do it. We threw our doors wide open to Japan in trade, but they kept theirs closed to us, which cost us several of our top industries, like our television industry. This article is long, but it will tell you why we couldn't sell televisions or automobiles in Japan, or much of anything else. http://www.csse.monash.edu.au/~jwb/japanyes.txt Hell, our own government has been our worst enemy as far as screwing us.

 

It was Clinton that forced banks to lend money to the poor to buy homes they couldn't afford that started the fall of the housing industry and our economy.

Here was the very start of the fall of the banks, by pushing banks to make loans to the poor, when they couldn't afford them.

Please catch the date of this article.



U.S. To Push Banks on Credit in Poor Areas

December 09, 1993|ROBERT A. ROSENBLATT and CHRIS KRAUL | TIMES STAFF WRITERS


WASHINGTON — The Clinton Administration, hoping to generate billions of dollars in new loans for small businesses and residents in poor and minority neighborhoods, on Wednesday unveiled proposed new rules requiring banks and thrifts to aggressively seek new customers in all parts of their communities

Federal regulators will now be much tougher in demanding that financial institutions make credit available to the poor as well as the affluent, said Comptroller of the Currency Eugene A. Ludwig, whose recent travels have taken him from South-Central Los Angeles to a reservation in North Carolina to hear complaints about the lack of credit in low-income areas.

http://articles.latimes.com/1993-12-...ommunity-banks

 

So just to be clear. You think this ONE law is the SOLE reason that 1% owns 60% of America and 50% of Americans earn $20,000 per year?

Then explain how it was causing this phenomenon before the depression of 2008?

 

That's a LIE. The borrowing was entirely due to ENTITLEMENTS. Reagan had NOTHING to do with that. I would insist that you get your facts straight, but liberals are violently allergic to facts. They get in the way of your lies.

Another LIE. During the Reagan years, EVEN WITH THE BUILDUP OF A MILITARY THAT JIMMY CARTER TREASONOUSLY ALLOWED TO FALL TO DANGEROUSLY LOW INCOMPETENT LEVELS, the Defense budget was still ONE TENTH the size of the expanding Entitlement budgets, which no president can touch.

You REALLY have no idea what you're talking about. And frankly there isn't time to educate your adolescent uneducated ass.

The Medicare budget MUSHROOMED during that era. Again, a subject you know absolutely nothing about. In fact the mushrooming Medicare budget was one reason why federal spending skyrocketed, and why health care costs soared.

I believe I'll trust the world of INVESTOR'S BUSINESS DAILY over a middle school dropout who continues to grab at straws every time he/she/it loses an argument.

The greatest economy in history.

.
'Splain the record HIGHEST use of FOOD STAMPS in the history of this country today. 'Splain the LOWEST JOB PARTICIPATION NUMBERS in the history of this country today. Barak Ebola has figured out how to pay people not to work in order to buy their votes for Democrats. People WILL take a handout rather than don a set of work clothes and EARN their money.

As usual, THAT'S A (*)(*)(*)(*)ING LIE. You libs really don't have a special affection for the TRUTH, do you?

You left wingers are going to have to make up your (*)(*)(*)(*)ing minds. A Republican tries to reign in spending by cutting the budget and you LIE about him starving children, kicking old people out of their homes and all the other despicable (*)(*)(*)(*)ING LIES, then you accuse them of ballooning the budget at the same time. IT'S EITHER ONE OR THE OTHER.
Reagan CUT useless spending and was pilloried for it. He also cut punitive taxation on EVERYBODY and the economy soared BASED ON THE TAX CUTS ALONE. Nothing else.

READ AND LEARN, LITTLE BOY.
http://www.heritage.org/research/reports/2001/03/the-real-reagan-economic-record

 

It would be a bad thing if that entire statement wasn't a (*)(*)(*)(*)ING LIE.
Read and be educated.
http://www.heritage.org/research/reports/2001/03/the-real-reagan-economic-record

Don't ya just HATE losing an argument?

 

When has there ever been no demand?

 

Sorry no the debt was run up by a huge increase in non defense spending mostly on various social programs.

 

When Reagan came into the White House he closed the IRS's office of international operations which allowed big businesses to go unaudited and evade taxes. Then he allowed tax shelters to flourish so that wealthy elites can make trillions without paying taxes. This is welfare for the rich as David Stockman admitted.

For a nation that proclaims itself to be Christian, this goes against everything taught in the Bible.

 

Change your screen name. What you just spewed is a million miles away from the truth.

 

Drugs also ballooned in the inner-cities under Reagan. Gangs ballooned under Reagan in the inner-cities. Crime ballooned in the inner-cities under Reagan. Black on black crime ballooned under Reagan in the inner-cities.