Anyone read Stockman's Book on the failure of the Reagan Administration?

[editec]

I'm listening to David Stockman on Wall Street Journal's website right now.

AAAAAAAAAAAAAAAMAZING mi culpa, folks.

VIDEO DESCRIPTION:
David Stockman, former Reagan budget director, says the Fed has become a serial bubble machine and t...he U.S. economy is headed toward collapse. He explains why he believes the machinery of government is massively failing, in an interview with WSJ's Jerry Seib.

AOL On - Are Bonds a Bubble About to Burst?

What is the guy saying?

EVERYTHING you believe about Reagan's fiscal conservatism is wrong.

I WAS WRONG. WE MASSIVELY increased the Federal budget spending on military spending and told ourselves that we were somehow cutting government.

Basically right now, the man sounds like the so called liberals on this board. Every complain he has about HIS OWN policies, people like me (you know us so called clueless communists?) have been telling people all along!

OR those of you who are still loyal NEOCONS might find this video even MORE informative:

"In his upcoming book, The Great Deformation: The Corruption of Capitalism in America, Stockman lays out how we have devolved from a free market economy into a managed one that operates for the benefit of a privileged few. And when trouble arises, these few are bailed out at the expense of the public good.

By manipulating the price of money through sustained and historically low interest rates, Greenspan and Bernanke created an era of asset mis-pricing that inevitably would need to correct. And when market forces attempted to do so in 2008, Paulson et al hoodwinked the world into believing the repercussions would be so calamitous for all that the institutions responsible for the bad actions that instigated the problem needed to be rescued -- in full -- at all costs. "

 

[Kevin_Kennedy]

I'm listening to David Stockman on Wall Street Journal's website right now.

AAAAAAAAAAAAAAAMAZING mi culpa, folks.

VIDEO DESCRIPTION:
David Stockman, former Reagan budget director, says the Fed has become a serial bubble machine and t...he U.S. economy is headed toward collapse. He explains why he believes the machinery of government is massively failing, in an interview with WSJ's Jerry Seib.

AOL On - Are Bonds a Bubble About to Burst?

What is the guy saying?

EVERYTHING you believe about Reagan's fiscal conservatism is wrong.

I WAS WRONG. WE MASSIVELY increased the Federal budget spending on military spending and told ourselves that we were something cutting government.

Basically right now the man sounds like the so called liberals on this board.

Well his position is that Reagan failed because he grew government. That doesn't much sound like many liberals on this board that I've heard. I do need to read the book though.

 

[Avorysuds]

I'm listening to David Stockman on Wall Street Journal's website right now.

AAAAAAAAAAAAAAAMAZING mi culpa, folks.

VIDEO DESCRIPTION:
David Stockman, former Reagan budget director, says the Fed has become a serial bubble machine and t...he U.S. economy is headed toward collapse. He explains why he believes the machinery of government is massively failing, in an interview with WSJ's Jerry Seib.

AOL On - Are Bonds a Bubble About to Burst?

What is the guy saying?

EVERYTHING you believe about Reagan's fiscal conservatism is wrong.

I WAS WRONG. WE MASSIVELY increased the Federal budget spending on military spending and told ourselves that we were something cutting government.

Basically right now the man sounds like the so called liberals on this board.

Well his position is that Reagan failed because he grew government. That doesn't much sound like many liberals on this board that I've heard. I do need to read the book though.

I was gonna say, that statement is pretty much anti everything liberals believe in, grow grow grow, bubble bubble bubble... Do it on education, housing, welfare, cars, dishwashers and even military.

 

[EdwardBaiamonte]

Well his position is that Reagan failed because he grew government. .

More accurately, Republicans always fail to reduce government because Democrats always oppose our Founders idea of freedom from big liberal government!

Liberals lack the IQ to understand how freedom works so must rely on the idea of a magical government solution for every problem.

 

[editec]

Well his position is that Reagan failed because he grew government. .

More accurately, Republicans always fail to reduce government because Democrats always oppose our Founders idea of freedom from big liberal government!

Liberals lack the IQ to understand how freedom works so must rely on the idea of a magical government solution for every problem.

I suspect, EB, that David Stockman is in a far better position to understand HIS OWN POLICIES than you are.

You do know who David Stockman is, right?

 

[there4eyeM]

So the reality comes trickling down...

 

[Kevin_Kennedy]

Well his position is that Reagan failed because he grew government. .

More accurately, Republicans always fail to reduce government because Democrats always oppose our Founders idea of freedom from big liberal government!

Liberals lack the IQ to understand how freedom works so must rely on the idea of a magical government solution for every problem.

No, that would be less accurate. Republican politicians fail to limit government because they generally have no interest in limiting government. They talk a good game during elections, and then never follow through.

 

[EdwardBaiamonte]

Well his position is that Reagan failed because he grew government. .

More accurately, Republicans always fail to reduce government because Democrats always oppose our Founders idea of freedom from big liberal government!

Liberals lack the IQ to understand how freedom works so must rely on the idea of a magical government solution for every problem.

No, that would be less accurate. Republican politicians fail to limit government because they generally have no interest in limiting government. They talk a good game during elections, and then never follow through.

too stupid but perfectly liberal !!! How can they follow through when Democrats oppose them easily by buying votes with promises of more and more welfare??? Also, Republicans have introduced 30 Balanced Budget Amendments since Jefferson's first. Newts passed the House and fell one vote short in the Senate. Democrats killed all 30. Get it now?? Do you know what our deficits would be now if Republicans had been able to follow through????????????????????

See why we are positive a liberal will be slow, so very very slow?

 

[Freemason9]

David Stockman also wrote "The Triumph of Politics," right? I read that twenty years ago, and it sounds like this book is simply an update.

Stockman DOES acknowledge the fact that Reagan steered us strongly towards a fascist economy (huge military budget, corporate/government collusion, destruction of labor unions, "enslaving" the workforce by stressing them economically, suppressing wages, promoting nationalism"). Although I'm certain David would never put it in those words.

Reagan began the process of supporting economic growth through gigantic deficits. He also successfully demonized Carter, who incidentally was in the process of turning things around and reducing the deficit prior to Reagan's election.

I agree with a previous poster--Reagan was a cocksucker, and it's sad that the modern Republican Party has allowed his legacy to eat away at their platform like a cancer.

 

[PoliticalChic]

Well his position is that Reagan failed because he grew government. .

More accurately, Republicans always fail to reduce government because Democrats always oppose our Founders idea of freedom from big liberal government!

Liberals lack the IQ to understand how freedom works so must rely on the idea of a magical government solution for every problem.

I suspect, EB, that David Stockman is in a far better position to understand HIS OWN POLICIES than you are.

You do know who David Stockman is, right?

So......the following is pretty much what "failure" looks like?

1. And the tax cuts of the Economic Recovery Act of 1981 stimulated economic growth. “As a 1982 JEC study pointed out,[1] similar across-the-board tax cuts had been implemented in the 1920s as the Mellon tax cuts, and in the 1960s as the Kennedy tax cuts. In both cases the reduction of high marginal tax rates actually increased tax payments by "the rich," also increasing their share of total individual income taxes paid.” http://www.house.gov/jec/fiscal/tx-grwth/reagtxct/reagtxct.htm


2. “As inflation came down and as more and more of the tax cuts from the 1981 Act went into effect, the economic began a strong and sustained pattern of growth.” US Department of the Treasury


3. The benefits from Reaganomics:
a. The economy grew at a 3.4% average rate…compared with 2.9% for the previous eight years, and 2.7% for the next eight.(Table B-4)
b. Inflation rate dropped from 12.5% to 4.4%. (Table B-63)
c. Unemployment fell to 5.5% from 7.1% (Table B-35)
d. Prime interest rate fell by one-third.(Table B-73)
e. The S & P 500 jumped 124% (Table B-95) FDsys - Browse ERP
f. Charitable contributions rose 57% faster than inflation. Dinesh D’Souza, “Ronald Reagan: How an Ordinary May Became an Extraordinary Leader,” p. 116


4. http://www.bea.gov/national/nipaweb...ce=N&AllYearsChk=YES&Update=Update&JavaBox=no
a. A study of table 7.1 would show that between 1973 and 2004, it doubled. And between 1929 and 2004, real per capita consumption by American workers increased five fold. The fastest growth periods were 1983-1990 and 1992-2004, known as the Reagan boom.



Heck....don't you wish Obama was that much of a "failure"?

 

[Freemason9]

More accurately, Republicans always fail to reduce government because Democrats always oppose our Founders idea of freedom from big liberal government!

Liberals lack the IQ to understand how freedom works so must rely on the idea of a magical government solution for every problem.

I suspect, EB, that David Stockman is in a far better position to understand HIS OWN POLICIES than you are.

You do know who David Stockman is, right?

So......the following is pretty much what "failure" looks like?

1. And the tax cuts of the Economic Recovery Act of 1981 stimulated economic growth. “As a 1982 JEC study pointed out,[1] similar across-the-board tax cuts had been implemented in the 1920s as the Mellon tax cuts, and in the 1960s as the Kennedy tax cuts. In both cases the reduction of high marginal tax rates actually increased tax payments by "the rich," also increasing their share of total individual income taxes paid.” http://www.house.gov/jec/fiscal/tx-grwth/reagtxct/reagtxct.htm


2. “As inflation came down and as more and more of the tax cuts from the 1981 Act went into effect, the economic began a strong and sustained pattern of growth.” US Department of the Treasury


3. The benefits from Reaganomics:
a. The economy grew at a 3.4% average rate…compared with 2.9% for the previous eight years, and 2.7% for the next eight.(Table B-4)
b. Inflation rate dropped from 12.5% to 4.4%. (Table B-63)
c. Unemployment fell to 5.5% from 7.1% (Table B-35)
d. Prime interest rate fell by one-third.(Table B-73)
e. The S & P 500 jumped 124% (Table B-95) FDsys - Browse ERP
f. Charitable contributions rose 57% faster than inflation. Dinesh D’Souza, “Ronald Reagan: How an Ordinary May Became an Extraordinary Leader,” p. 116


4. http://www.bea.gov/national/nipaweb...ce=N&AllYearsChk=YES&Update=Update&JavaBox=no
a. A study of table 7.1 would show that between 1973 and 2004, it doubled. And between 1929 and 2004, real per capita consumption by American workers increased five fold. The fastest growth periods were 1983-1990 and 1992-2004, known as the Reagan boom.



Heck....don't you wish Obama was that much of a "failure"?

Yup. And Reagan created this "boom" by engaging in lustful deficit spending and tax cuts. And beginning the modern era of massive federal debts. And now you right wingers bitch about big federal debt.

For fuck's sake.

 

[PoliticalChic]

I suspect, EB, that David Stockman is in a far better position to understand HIS OWN POLICIES than you are.

You do know who David Stockman is, right?

So......the following is pretty much what "failure" looks like?

1. And the tax cuts of the Economic Recovery Act of 1981 stimulated economic growth. “As a 1982 JEC study pointed out,[1] similar across-the-board tax cuts had been implemented in the 1920s as the Mellon tax cuts, and in the 1960s as the Kennedy tax cuts. In both cases the reduction of high marginal tax rates actually increased tax payments by "the rich," also increasing their share of total individual income taxes paid.” http://www.house.gov/jec/fiscal/tx-grwth/reagtxct/reagtxct.htm


2. “As inflation came down and as more and more of the tax cuts from the 1981 Act went into effect, the economic began a strong and sustained pattern of growth.” US Department of the Treasury


3. The benefits from Reaganomics:
a. The economy grew at a 3.4% average rate…compared with 2.9% for the previous eight years, and 2.7% for the next eight.(Table B-4)
b. Inflation rate dropped from 12.5% to 4.4%. (Table B-63)
c. Unemployment fell to 5.5% from 7.1% (Table B-35)
d. Prime interest rate fell by one-third.(Table B-73)
e. The S & P 500 jumped 124% (Table B-95) FDsys - Browse ERP
f. Charitable contributions rose 57% faster than inflation. Dinesh D’Souza, “Ronald Reagan: How an Ordinary May Became an Extraordinary Leader,” p. 116


4. http://www.bea.gov/national/nipaweb...ce=N&AllYearsChk=YES&Update=Update&JavaBox=no
a. A study of table 7.1 would show that between 1973 and 2004, it doubled. And between 1929 and 2004, real per capita consumption by American workers increased five fold. The fastest growth periods were 1983-1990 and 1992-2004, known as the Reagan boom.



Heck....don't you wish Obama was that much of a "failure"?

Yup. And Reagan created this "boom" by engaging in lustful deficit spending and tax cuts. And beginning the modern era of massive federal debts. And now you right wingers bitch about big federal debt.

For fuck's sake.

Watch your language.

The defense deficits of Reagan purchased the freedom of the world.
Without firing a shot.
Further, he redeemed the economy from the Carter malaise.

The deficits of this wind-bag in the White House purchased unemployment and poor behavior on the part of Americans who bought into same.
He champions the dole, abjures responsibility and hard work.

 

[Dugdale_Jukes]

Well his position is that Reagan failed because he grew government. .

More accurately, Republicans always fail to reduce government because Democrats always oppose our Founders idea of freedom from big liberal government!

Liberals lack the IQ to understand how freedom works so must rely on the idea of a magical government solution for every problem.

Edmund, your posts are perhaps the most guileless window into the nutball mind at USMB. One wants to look away... but... well, that's no fun.

A summary abstract would read something like:

The subject combines fantasy and projection with exponential amounts of delusion expressed in some form of alibi or excuse.

Bears watching. Individuals are generally harmless; gaggles are potentially dangerous.
​

But I digress...

Stockman got taken to the woodshed by Reagan's boss, Don Regan, early on for telling the truth. Stockman was a budget hawk who never, ever was a good fit for the combination of New Dealers and corporate thieves feeding Reagan his lines.

Not only is Stockman's book an accurate telling of the truth about the cocksuckers who fabricated "Reagan" specifically to hoodwink the stupidest white trash on earth, he admits they fooled him.

And Stockman ain't no prize himself.

 

[EdwardBaiamonte]

Well his position is that Reagan failed because he grew government. .

More accurately, Republicans always fail to reduce government because Democrats always oppose our Founders idea of freedom from big liberal government!

Liberals lack the IQ to understand how freedom works so must rely on the idea of a magical government solution for every problem.

Edmund, your posts are perhaps the most guileless window into the nutball mind at USMB. One wants to look away... but... well, that's no fun.

A summary abstract would read something like:

The subject combines fantasy and projection with exponential amounts of delusion expressed in some form of alibi or excuse.

Bears watching. Individuals are generally harmless; gaggles are potentially dangerous.
​

libturd gibberish because you lack the IQ for substance

 

[Kevin_Kennedy]

More accurately, Republicans always fail to reduce government because Democrats always oppose our Founders idea of freedom from big liberal government!

Liberals lack the IQ to understand how freedom works so must rely on the idea of a magical government solution for every problem.

No, that would be less accurate. Republican politicians fail to limit government because they generally have no interest in limiting government. They talk a good game during elections, and then never follow through.

too stupid but perfectly liberal !!! How can they follow through when Democrats oppose them easily by buying votes with promises of more and more welfare??? Also, Republicans have introduced 30 Balanced Budget Amendments since Jefferson's first. Newts passed the House and fell one vote short in the Senate. Democrats killed all 30. Get it now?? Do you know what our deficits would be now if Republicans had been able to follow through????????????????????

See why we are positive a liberal will be slow, so very very slow?

So why didn't they do it when they had the Presidency and both the House and the Senate? Because they didn't want to.

 

[EdwardBaiamonte]

Yup. And Reagan created this "boom" by engaging in lustful deficit spending and tax cuts. And beginning the modern era of massive federal debts. And now you right wingers bitch about big federal debt.

For fuck's sake.

Of course his deficit spending ended the cold war and freed about 2 billion from liberal communism. His Star Wars programs are now our only defense against the axis of evil.
Obama is a walking talking breathing moral hazard; his spending is for vote buying welfare programs that are a huge moral hazard to our countries most fundamental principles

 

[Dugdale_Jukes]

More accurately, Republicans always fail to reduce government because Democrats always oppose our Founders idea of freedom from big liberal government!

Liberals lack the IQ to understand how freedom works so must rely on the idea of a magical government solution for every problem.

Edmund, your posts are perhaps the most guileless window into the nutball mind at USMB. One wants to look away... but... well, that's no fun.

A summary abstract would read something like:

The subject combines fantasy and projection with exponential amounts of delusion expressed in some form of alibi or excuse.

Bears watching. Individuals are generally harmless; gaggles are potentially dangerous.
​

libturd gibberish because you lack the IQ for substance

Okay, Edmund. You got me.

 

[Kevin_Kennedy]

Yup. And Reagan created this "boom" by engaging in lustful deficit spending and tax cuts. And beginning the modern era of massive federal debts. And now you right wingers bitch about big federal debt.

For fuck's sake.

Of course his deficit spending ended the cold war and freed about 2 billion from liberal communism. His Star Wars programs are now our only defense against the axis of evil.
Obama is a walking talking breathing moral hazard; his spending is for vote buying welfare programs that are a huge moral hazard to our countries most fundamental principles

Communism is an unviable economic system, and the Soviet Union was bound to collapse on its own regardless of what Reagan did.

 

[EdwardBaiamonte]

Edmund, your posts are perhaps the most guileless window into the nutball mind at USMB. One wants to look away... but... well, that's no fun.

A summary abstract would read something like:

The subject combines fantasy and projection with exponential amounts of delusion expressed in some form of alibi or excuse.

Bears watching. Individuals are generally harmless; gaggles are potentially dangerous.
​

libturd gibberish because you lack the IQ for substance

Okay, Edmund. You got me.

libturd gibberish because you lack the IQ for substance. Why not tell us what your political philosophy is and why rather than act like a substance free ass all the time??

 

[Dugdale_Jukes]

libturd gibberish because you lack the IQ for substance

Okay, Edmund. You got me.

libturd gibberish because you lack the IQ for substance. Why not tell us what your political philosophy is and why rather than act like a substance free ass all the time??

My political philosophy has been clear for some time to anyone who can read at the sixth grade level.

Small government, harsh punishment for criminals. Maximum individual freedoms for natural born persons, limited rights for organizational entities.

You nutballs and your big spending neocon senators, congressmen and presidents fucked up America, Ed by caving in to the worst instincts of collectivism trading as fake-liberalism, in exchange for military toys for neocons whose main desire is to meddle in the middle east.

It really is that simple, Ed; and it really pissed me off at the human cattle lionizing scum like Reagan and Clinton and failing to outright condemn a borderline criminal failure like Junebug or an economic clown like Obama.

Go open the cabinet and admire your composite gravel statuette of Reagan, Ed. Put another joint-shaped incense pellet in the icon's mouth, light it then rub his belly.

The next debt-fueled bubble is just a shot away for you folks.