Reagan v. Obama Recessions

Discussion in 'Economy' started by DamnYankee, Jul 6, 2009.

  1. DamnYankee
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    DamnYankee No Neg Policy

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    It's amazing that the media has intentionally done a "media black-out" of the 1981-1982 recession that Ronald Reagan defeated without engaging BIG GOVERNMENT spending/programs.

    We always hear about the Great Depression. Why? Because it involved a recovery that involved excessive government spending and the creation of new bureaucracies.

    The "politicized" media won't ever compare the successful policies of Reagan to that of Obama.

    Read:


    Stimulus 101: Obama Vs. Reagan:
    Stimulus 101: Obama Vs. Reagan - The Philadelphia Bulletin Archives
     
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  2. midcan5
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    midcan5 liberal / progressive

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    Obama has no recession - Obama is trying to minimize the republican destruction of the economy under Reaganomics.

    Reagan began the destruction of the middle class, Bush Sr lost the election due to policies started with Reagan. You do remember, 'it's the economy stupid!' Reagan made us a debtor nation for the first time and while he engaged in Keynesian economics for a while it soon collapsed. His drunken sailor spending created trouble as even he realized it was a mistake and raised taxes several times including the largest peace time increase ever. Reagan is so much a myth it truly boggles the mind.

    OpEdNews » Ronald Reagan: Worst President Ever?
    Hale "Bonddad" Stewart: Ronald Reagan: Fiscal Disaster
    Firedoglake » Newsflash: Ronald Reagan Raised Taxes (You Idiots)
    CEPR - America Since 1980: A Right Turn Leading to a Dead End

    For those of us who saw firsthand Reagan's mean spirited work, his myth remains a profound mystery.
     
  3. Tech_Esq
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    Tech_Esq Sic Semper Tyrannis!

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    I saw it first hand and your view point is simply twaddle. Justified by political hackism in the extreme. The dumocrats struggled with the economic circumstances for 4 years prior to Reagan and what did they come up with?

    Prime lending rate: 21%

    Unemployment: between 8.5 and 11%

    Inflation: 18%

    The US was trapped in an irreparable double bind of stagflation. Stagnating economy. No Growth and crippling near latin american levels of hyper-inflation.

    Now that we are having the second term of Jimmy Carter, you can count on revisiting these miseries. It's probably time to re-visit cranking up the misery index.
     
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  4. wimpy77
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    wimpy77 Member

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    second term of jimmy carter i doubt it more like the third term of george w. bush.
     
  5. Tech_Esq
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    Tech_Esq Sic Semper Tyrannis!

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    How so? Bush was a profligate spender, but Obama has made him look like a mere piker. Carter brought us hyper inflation just as Obama will. Even Buffet is beginning to say it, though nothing quotable. If you watched his latest interview on CNBC, when Becky put the question to him, he tacitly agreed that it's coming but he focus on the time between now and then.
     
  6. midcan5
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    midcan5 liberal / progressive

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    Curious were you asleep then or brain dead or are you now asleep or brain dead? Doesn't matter as you are wrong as always. Nixon/Ford created helped create the mess called stagflation and the inflation in hopes of Nixon's reelection.

    The stagflation myth - Paul Krugman Blog - NYTimes.com

    I am once again amazed at you tools, Carter may not have done enough to help us out of the republican mess but he is one president among many republicans and it is quite easy to see where Reaganomics got us. You guys must wear dunce hats when you post or you should.

    "NEW YORK (CNNMoney.com) -- Gerald Ford's presidential term was as much marked by the economic forces of inflation as it was by the political fortunes of the time.

    Ford, who was sworn in as president on Aug. 9, 1974, after the resignation of Richard Nixon, faced inflation that was already surging at a 10.9 percent annual rate in that month. It was thrust into overdrive by the OPEC oil embargo of 1974 and the elimination of wage/price controls instituted in the Nixon administration."

    The economic legacy of Gerald Ford - Dec. 27, 2006
     
    Last edited: Jul 6, 2009
  7. sealybobo
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    sealybobo Diamond Member

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    Reagan didn't have to take on the special interests, lobbyists, greedy corporations, etc. The only people he beat up or attacked were the unions/labor.
     
  8. Tech_Esq
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    Tech_Esq Sic Semper Tyrannis!

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    Clearly you were brain dead both then and now. No worries though, I'm going to get you up to speed. Really? You posted a libtard blog to support your libtard statement? Why not just go with your own thoughts? It has the same weight. That is to say, none.

    The origins of stagflation are obvious, LBJs Great Society and the Vietnam war and the massive explosion in government spending that went with it. How did he pay for it? He cut taxes. This had the effect of super-heating the economy and causing massive inflation.

    This was passed to Nixon. Libtards like to paint Nixon as a conservative, because they love to hate him and it would be so convenient if he was also a conservative. Never allowing the truth to stand in the way of a good hate, libs call Nixon a conservative despite his use of such anti-conservative methods as wage and price controls. Not to mention his creation of the EPA. Definitely not conservative acts. So, needless to say, Nixon did little to remedy the situation. Along the way, the Arab oil embargo occurs and we suffer a serious supply shock.

    Carter inherits a situation which is not too good. But, Carter takes this bad situation and makes it horrific. Since, you were clearly brain dead, I've arranged a flashback for you from first from Carter's own mouth April 14, 1977:
    Carter's Announcement

    Next from Time Magazine in 1980.
    We can go into just how bad he made it if you persist in this nonsensical blather.
     
    Last edited: Jul 6, 2009
  9. elvis
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    elvis BANNED Supporting Member

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    is that the perspective in Germany/Europe now?
     
  10. DamnYankee
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    DamnYankee No Neg Policy

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    If Reagan practiced Keynesian economics, Obama's is Keynesian^10.
     

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