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originally posted by: Darkmadness
a reply to: Willtell
en.wikipedia.org...
What's conservatism?
WASHINGTON — For years, a Congressional hearing with Alan Greenspan was a marquee event. Lawmakers doted on him as an economic sage. Markets jumped up or down depending on what he said. Politicians in both parties wanted the maestro on their side.
But on Thursday, almost three years after stepping down as chairman of the Federal Reserve, a humbled Mr. Greenspan admitted that he had put too much faith in the self-correcting power of free markets and had failed to anticipate the self-destructive power of wanton mortgage lending.
Kansas’ Experiment in Right-Wing Economics Is Still Failing Miserably
Under the leadership of Brownback and one of the most conservative legislatures in America, Kansas dramatically slashed the tax rates of Kansas’ wealthy and its corporations. According to ideology, the cuts should have jumpstarted Kansas’ economy and led to rapid growth that created jobs and helped the tax cuts pay for themselves. Of course, nothing of the sort happened.
The effect was disastrous, a slow-rolling series of budget shortfalls followed by cuts to essential services like education and roads, which only slowed the economy further. A series of punitive and regressive sin taxes on tobacco and other goods were instituted to make up for the cuts to the tax rates of the wealthy, which of course only further undermined consumer spending
originally posted by: LumenImagoDei
And Trump supporters will never see that Trump was just going along with it the whole time. He's hiring bankers and hedge fund managers into his cabinet, the same exact people who control the market.
originally posted by: Darkmadness
T
I could see this. They know a massive correction is coming and they use it to destroy Trump's legacy and to show us how we should have chosen their choice for candidate.