Trump, a Reagan for the 21st century?

originally posted by: 3NL1GHT3N3D1
I feel like Reagan and his administration are the ones who started the domino effect that has led us to our current situation, a corporate oligarchy where deregulated corporations own the government and push policies that benefit them at the expense of the middle class.

Yeah, things were good for a little while but we see where it has led us to today. The 2008 crash was a direct result of Reagan's deregulation policies when he became president.

Just my opinion but I think he's one of the worst presidents we've had in hindsight. He really screwed my generation over.

Oh , no . Now we have forgotten blame Bush and have to go all the way back to Reagan ? 40 years or so before the housing market bubble burst ?
Thanks for the laugh.

OP - there are similarities , but only superficial ones for now . Have to elect him to see whats in him . Damn , I sounded a lot like Peelosi

a reply to: Gothmog

So you're saying Reagan's deregulation policies didn't enable corporations to make risky bets on the market that led to the 2008 crash? If Reagan hadn't have deregulated the private sector then the 2008 crash wouldn't have happened because the practices being performed would have been illegal.

originally posted by: 3NL1GHT3N3D1
The 2008 crash was a direct result of Reagan's deregulation policies when he became president.

Glass-Steagall was not repealed under the Reagan Administration.

originally posted by: 3NL1GHT3N3D1
a reply to: Gothmog

So you're saying Reagan's deregulation policies didn't enable corporations to make risky bets on the market that led to the 2008 crash? If Reagan hadn't have deregulated the private sector then the 2008 crash wouldn't have happened because the practices being performed would have been illegal.

U&hhhh. You do recall the great crash was due to the "housing bubble" right ? Just say yes.Of course you will not as then you would be unable to blame it on Reagan. New mantra - Blame Reagan.
Let me put this in words I hope folks can understand. It was a deregulation of the housing sector that caused the great crash. Remember "houses for everyone" the Democratic Congress was pushing for and Bush signed ?Who did Obama bail out ? It sure wasnt corporations. Banks and lending institutions. They had taken a giant hit as they had loaned money to anyone for housing (whether they even came close to qualifying or not).
Get it ? Got it.Good.

a reply to: DBCowboy

Reagan is responsible for vastly escalating the War on Drugs, the creation of mandatory sentencing laws, and more anti-drug propaganda lies than the 1930's. He also spearheaded the deregulation of the banks which led to the crash in 2008. Oh and he reduced taxes on the rich with his crappy "trickle down economics" policy (which is still the mainstay economic policy of the right even though it doesn't work) which has directly led to the stagnating wages middle America has been experiencing for the last 30 years. He is one of the WORST modern Presidents we've had. So comparing him to Trump may be rather apt...

a reply to: Gothmog

A housing bubble that was enabled and created by Reagan's deregulation of the banks. Here's Paul Krugman agreeing with this:
Krugman: Reagan Deregulation Caused 2008 Crisis

a reply to: Krazysh0t

a reply to: 3NL1GHT3N3D1


Well it's not just the Reagan Administration hemorrhage the US economy but also the Clinton Administration through the creation of NAFTA.

originally posted by: starwarsisreal
Well it's not just the Reagan Administration hemorrhage the US economy but also the Clinton Administration through the creation of NAFTA.

NAFTA had nothing to do with bank deregulation and the housing market.

a reply to: AugustusMasonicus
A voice of reason , crying in the wilderness . No NAFTA nor Clinton had anything to do with the deregulation. NAFTA and the reason behind it was a good idea. The way it was executed was not . Yes , the houses for everyone chant did start under Clinton. But , not from Clinton. Wise man that Bill , sometimes.

a reply to: AugustusMasonicus

I have corrected myself:

The bank deregulation and the housing market along with NAFTA and the outsourcing of many jobs to Third World Nation are some of main reasons why the US economy got damaged. Its not just Reagan who destroyed the economy like what enlightened said.

originally posted by: Gothmog
a reply to: Krazysh0t

How does the old song go ? "Believe what you want to believe" . Knowledge is a wonderful thing. Negative emotion is not.

Is that your best rebuttal to being proven wrong?

a reply to: AugustusMasonicus

I'd have to say that Reagan paved the way for Glass-Steagall being repealed.

originally posted by: Gothmog
No NAFTA nor Clinton had anything to do with the deregulation. Yes , the houses for everyone chant did start under Clinton. But , not from Clinton. Wise man that Bill , sometimes.

To be fair, there were many policies which lead to the 2008 housing crisis. The foundation of it can be traced back to Fannie Mae and Freddie Mac's founding in 1932 and 1970 respectively but the real escalation began after Glass-Steagall was repealed under Clinton and the Fed's easy money policies of Greenspan under Clinton and Bush 43. But just so we are not minimizing the blame, no President gets any legislation through without the complicity of Congress. This is a Washington thing, not a President-only thing.

originally posted by: AugustusMasonicus

originally posted by: starwarsisreal
Well it's not just the Reagan Administration hemorrhage the US economy but also the Clinton Administration through the creation of NAFTA.

NAFTA had nothing to do with bank deregulation and the housing market.

NAFTA didn't destroy our country as much as people pretend it did. It didn't help, but if you want to look at countries that it destroyed. Look no further than Mexico. That country was gutted thanks to NAFTA. All things considered, we came out better because of it.

originally posted by: 3NL1GHT3N3D1
I'd have to say that Reagan paved the way for Glass-Steagall being repealed.

Irrelevant, he was dead when it was repealed. No one twisted the arms of Congress or President Clinton to make them repeal that law.

Using your logic we can blame Iraq on Truman since he was the first President to circumvent Congress and send troops into war without a declaration.

originally posted by: starwarsisreal
The bank deregulation and the housing market along with NAFTA and the outsourcing of many jobs to Third World Nation are some of main reasons why the US economy got damaged. Its not just Reagan who destroyed the economy like what enlightened said.

They are still two wholly separate situations. The policies which lead to the 2008 collapse were decades in the making, Reagan was only a very small part in the unfolding scenario.

a reply to: AugustusMasonicus

The foundation of it can be traced back to Fannie Mae and Freddie Mac's founding in 1932 and 1970 respectively

Not their founding , what they had become under the Bush admin

policies of Greenspan

You just nailed it Greenspan and the Feds.

originally posted by: Gothmog
Not their founding , what they had become under the Bush admin

I think it is critical for everyone to understand that people had been gaming both of these institutions since their inception. It was much more pronounced under Greenspan, Clinton and Bush.

a reply to: AugustusMasonicus

Fair enough, but like I said in my first post, Reagan was the one who started the domino effect that led to the effects we are feeling today.