posted on May, 6 2008 @ 04:45 AM
reply to post by hinky
I have been meaning to reply to this nonsense that some Reaganites try to pretend to be the reality. Reagan's economic policies were a complete
failure, and the only thing that kept the U.S. economy from collapsing in the eighties are the huge levels of government deficit spending. Reagan had
one decent year economically, 1984, and that was due to the tough economic policies put in place by Carter who inherited stagflation from the Nixon
Ford admins. Repub tried to lower the deficit in 87 and it almost lead to economic disaster.
Clinton reversed the policies of the Reagan admin and the U.S. economy took off like a rocket by 95. Clinton's policy was simple, enforce the rules
and regulations that help to create economic competition, which is critical for a well functioning market economy. Regulations also do another
important thing, they create jobs. When companies are forced to do the basics to gaurantee quality, safety, and meet environmental requirements they
have to hire people to do the work necessary. People with jobs create consumer demand, and there you have an economic system.
The stock market bubble of the late nineties was created by Newt Gingrich's contract on America, which rewrote the laws leading to massive out of
control market speculation and that was the stock bubble. What is worse is that they removed the laws that were keeping us from repeating another
Since 2000 our economy has survived by massive increases in private as well as public sector debt, which is exactly what they did in the twenties, and
now that debt has increased to the tipping point, the world economy is is a very bad situation. Who knows when the last time economic indicators were
this bad, but you might have to go back to the collapse of Rome. Populations of the developing world have skyrocketed to the point of
insustainability, and now our planets cheap and easily accessable oil resources are running out, the world economy dependent on U.S. consumers who
have sustained consumption through debt has painted itself into a corner, the populations of third world nations are about to face some very horrible
The boomers have shown themselves to have been a very greedy generation, and now that they are ready to retire, the world economy is about to
collapse. Poetic justice I wonder.
It might be time to remember the expression, "That which does not kill you, makes you stronger."