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

[CrusaderFrank]

I keep telling everybody that the liberal definition of success is the exact opposite of what you and I know it to be

Sent from my DROID RAZR using Tapatalk 2

 

[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.

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?

Somehow I missed this gem yesterday, Edmund, demonstrating the superior, far superior conservative mind; aka, the power of fantasy mixed into a koolade rich with delusions about times that never existed. Nothing Anthony Robbins ever said rivals what must be said at the secret gatherings of lemming people posing as fake conservatives.

But I digress...

Ed, do you seriously claim that the debt-fueled economic "successes" of the 1980s, known at the time by rational thinkers to be canned-heater grade economic theory, are not the sandcastle that collapsed in 2008?

 

[Dugdale_Jukes]

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 ***** about big federal debt.

For ****'s sake.

These people are not only emotionally immature, they appear to be congenitally dull; a bad combination in people without a moral bottom. Preaching self reliance and small government, they advocate interference in the most private of decisions and promote corporate debauchery of public treasuries like they were Italian generals.

Reagan's people started cooking the books in favor of debt around 1983 (see, D. Stockman) but statistical jiggery skyrocketed under Greenspan, perhaps the least prepared FED head ever. The downstream monkeys didn't have to worry about high integrity after a meeting with Greenspan because one meeting was all it took for anyone who understood either competence or the Peter Principle to know they were in the presence of a functional idiot and so they could safely do whatever their corporate commanders asked without much fear of their jiggery being challenged at the FED level.

Instead of an aircraft carrier, Reagan should have a blimp named after him. Nothing he ever said floats, but the hot air he pumped out from where the sun don't shine would lift any number of blimps. One suspects Ken Lay modeled Enron's accounting system after the ReaganNUT US government accounting system.

 

[CrusaderFrank]

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 ***** about big federal debt.

For ****'s sake.

So where's Obammy's Boom?

One Obama deficit is bigger than all of Reagan's COMBINED!!

Obama Deficit is bigger than Reagan's entire budget!

WE should have a mega boom

 

[EdwardBaiamonte]

Ed, do you seriously claim that the debt-fueled economic "successes" of the 1980s, known at the time by rational thinkers to be canned-heater grade economic theory, are not the sandcastle that collapsed in 2008?

too stupid!! economists fondly call the period "the great moderation."
Welcome to econ 101!! Did you ever think going to college might be a good idea??

The National Bureau of economic Research in 1999 declared the period 1982-99 one continuous macroeconomic expansion, " the longest sustained period of prosperity in the twentieth century."
J: and of course this is not to forget that Reagan ended the cold war, saved the world from nuclear annihilation, and set billions free from liberal communism.

J: When Reagan took office the misery index (unemployment + inflation was 20, when he left it was 10. In "The 7 Fat Years" Bartley aptly summarize Reagan's years by saying, "It was like we added another California to the US economy.

J: Kemp Roth was the largest tax cut in American History; enacted 8 months after Reagan too office. The Dow Jones average doubled during Reagan and real federal revenue grew by 24%.

NY Times: "One popular misconception is that the Republican tax cuts caused the crippling budget deficit now approaching 300 billion a year. The fact is the deficit resulted because the government vastly expanded what it spent each year." The new spending went to the military, but since it defeated communism it was worth every penny!!

Remarks by Governor Ben S. Bernanke


The Great Moderation
One of the most striking features of the economic landscape over the past twenty years or so has been a substantial decline in macroeconomic volatility. In a recent article, Olivier Blanchard and John Simon (2001) documented that the variability of quarterly growth in real output (as measured by its standard deviation) has declined by half since the mid-1980's, while the variability of quarterly inflation has declined by about two thirds. Several writers on the topic have dubbed this remarkable decline in the variability of both output and inflation "the Great Moderation." Similar declines in the volatility of output and inflation occurred at about the same time in other major industrial countries, with the recent exception of Japan, a country that has faced a distinctive set of economic problems in the past decade.

 

[Dugdale_Jukes]

Ed, do you seriously claim that the debt-fueled economic "successes" of the 1980s, known at the time by rational thinkers to be canned-heater grade economic theory, are not the sandcastle that collapsed in 2008?

too stupid!! economists fondly call the period "the great moderation."
Welcome to econ 101!! Did you ever think going to college might be a good idea??

The National Bureau of economic Research in 1999 declared the period 1982-99 one continuous macroeconomic expansion, " the longest sustained period of prosperity in the twentieth century."
J: and of course this is not to forget that Reagan ended the cold war, saved the world from nuclear annihilation, and set billions free from liberal communism.
J: When Reagan took office the misery index (unemployment + inflation was 20, when he left it was 10. In "The 7 Fat Years" Bartley aptly summarize Reagan's years by saying, "It was like we added another California to the US economy.
J: Kemp Roth was the largest tax cut in American History; enacted 8 months after Reagan too office. The Dow Jones average doubled during Reagan and real federal revenue grew by 24%.

NY Times: "One popular misconception is that the Republican tax cuts caused the crippling budget deficit now approaching 300 billion a year. The fact is the deficit resulted because the government vastly expanded what it spent each year." The new spending went to the military, but since it defeated communism it was worth every penny!!

Remarks by Governor Ben S. Bernanke
The Great Moderation
One of the most striking features of the economic landscape over the past twenty years or so has been a substantial decline in macroeconomic volatility. In a recent article, Olivier Blanchard and John Simon (2001) documented that the variability of quarterly growth in real output (as measured by its standard deviation) has declined by half since the mid-1980's, while the variability of quarterly inflation has declined by about two thirds. Several writers on the topic have dubbed this remarkable decline in the variability of both output and inflation "the Great Moderation." Similar declines in the volatility of output and inflation occurred at about the same time in other major industrial countries, with the recent exception of Japan, a country that has faced a distinctive set of economic problems in the past decade.

Interesting response, Edmund. 26 words of what passes for original thought followed by several hundred words of self-serving propaganda by parasites now proven beyond a shadow of a doubt by events/facts on file today, to be functional lies told by people who are either congenital liars or congenital fools.

As much contempt as one has for Obama and his band of corporate pickpockets relentlessly looting the treasury and at some point ******* taxpayers, reading your articles of faith made me feel a whole lot better about 2004. You people really fucked yourselves re electing the most demonstrably failed first term president in US history.

For doubters reading this, ask yourself a single question: how did re electing that filthy little ********** in 2004 work out?

 

[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 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.

And massively increased the public debt, which does read like the complaint his detractors have been pointing out all along.

I think his book, however doesn't much deal with the Regan era, but rather than the lst couple decades of stupid stupid policies that this government has created.

I haven't read his book yet, buy based on the video interview he is sound more and more like most economists I've been reading warning us about the wholesale theft of value that the FED and treasury allowed to happen on both Bush II and Obama's watch.

It is his opinion that reconstituting the BANKSTERS' too big to fail banks, was a massive error.

I certainly agree with him that the way it was done (leaving the same people in charge and NOT nationalizing those then insolvent banks) was a tragic error in judgement.

He obvious HATES Benacke.

 

[editec]

The economic miracle of the Reagan years had much more to do with liberalizing the Prime to get the cost of borrowing down AND raiding the social security to give the FED cheap money via that process.

And of course one can see the national debtr rising even while (because) of his tax cuts for millionaires, too.

Most working Americans experienced the largest single TAX INCREASE in history under Reagan.

Or have ya'll conveniently forgotten Reagan's Social Security tax increases?

 

[CrusaderFrank]

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

AAAAAAAAAAAAAAAMAZING mi culpa, folks.



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.

And massively increased the public debt, which does read like the complaint his detractors have been pointing out all along.

I think his book, however doesn't much deal with the Regan era, but rather than the lst couple decades of stupid stupid policies that this government has created.

I haven't read his book yet, buy based on the video interview he is sound more and more like most economists I've been reading warning us about the wholesale theft of value that the FED and treasury allowed to happen on both Bush II and Obama's watch.

It is his opinion that reconstituting the BANKSTERS' too big to fail banks, was a massive error.

I certainly agree with him that the way it was done (leaving the same people in charge and NOT nationalizing those then insolvent banks) was a tragic error in judgement.

He obvious HATES Benacke.

If Reagan's increase was "Massive" Obama's is astronomical

 

[Kevin_Kennedy]

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.

And massively increased the public debt, which does read like the complaint his detractors have been pointing out all along.

I think his book, however doesn't much deal with the Regan era, but rather than the lst couple decades of stupid stupid policies that this government has created.

I haven't read his book yet, buy based on the video interview he is sound more and more like most economists I've been reading warning us about the wholesale theft of value that the FED and treasury allowed to happen on both Bush II and Obama's watch.

It is his opinion that reconstituting the BANKSTERS' too big to fail banks, was a massive error.

I certainly agree with him that the way it was done (leaving the same people in charge and NOT nationalizing those then insolvent banks) was a tragic error in judgement.

He obvious HATES Benacke.

If Reagan's increase was "Massive" Obama's is astronomical

Which in no way absolves Reagan or those perpetuating the Reagan myth.

 

[EdwardBaiamonte]

And massively increased the public debt, which does read like the complaint his detractors have been pointing out all along.

I think his book, however doesn't much deal with the Regan era, but rather than the lst couple decades of stupid stupid policies that this government has created.

I haven't read his book yet, buy based on the video interview he is sound more and more like most economists I've been reading warning us about the wholesale theft of value that the FED and treasury allowed to happen on both Bush II and Obama's watch.

It is his opinion that reconstituting the BANKSTERS' too big to fail banks, was a massive error.

I certainly agree with him that the way it was done (leaving the same people in charge and NOT nationalizing those then insolvent banks) was a tragic error in judgement.

He obvious HATES Benacke.

If Reagan's increase was "Massive" Obama's is astronomical

Which in no way absolves Reagan or those perpetuating the Reagan myth.

too stupid!! there is no myth!! Reagan believed in very very very limited government as did our genius Founders. He did not make it happen because of treasonous Democrat and independent opposition.

Why is such a simple concept too complicated for a liberal to grasp.

 

[EdwardBaiamonte]

(leaving the same people in charge)

too stupid!! how can the same people be in charge when Bear Lehman Merryl and 1000 others went bankrupt!!!!!!! Slow???

and NOT nationalizing those then insolvent banks) was a tragic error in judgement.

OMG too stupid 1000 times over!!! Stockman is a rigid capitalist, not a socialist who wants libturd soviet Solyndra bureaucrats to own and run the banks!

 

[Wry Catcher]

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 ***** about big federal debt.

For ****'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.

lol, "Carter's malaise"? Time to read a little real history and put down the spark notes on all the right wingers you quote. Youngsters may not remember WIN (Whip Inflation Now) which was Ford's response to the STAGFLATION (a word which needed to be invented to explain the Nixon-Ford economy) which crippled our nation during their administration.

Ya know PC there are liars of commission and liars of omission and some - like you - who are purveyors of both.

 

[EdwardBaiamonte]

Youngsters may not remember WIN (Whip Inflation Now) which was Ford's response to the STAGFLATION

too stupid!!! If Ford did not know what inflation was so what, Friedman did!!
Case closed!! Friedman was right and all agree!!. Do you have any idea at all what point you were trying to make??

 

[PoliticalChic]

The economic miracle of the Reagan years had much more to do with liberalizing the Prime to get the cost of borrowing down AND raiding the social security to give the FED cheap money via that process.

And of course one can see the national debtr rising even while (because) of his tax cuts for millionaires, too.

Most working Americans experienced the largest single TAX INCREASE in history under Reagan.

Or have ya'll conveniently forgotten Reagan's Social Security tax increases?

Forgotten?

a. It saved social security

and

b. it served as the piggy bank for the rapist, Clinton, to use to pretend he had a surplus, when, in fact, the national debt rose 41% during his term.


You Lefties should be genuflecting at the mention of 'Ronald Reagan./

 

[PoliticalChic]

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 ***** about big federal debt.

For ****'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.

lol, "Carter's malaise"? Time to read a little real history and put down the spark notes on all the right wingers you quote. Youngsters may not remember WIN (Whip Inflation Now) which was Ford's response to the STAGFLATION (a word which needed to be invented to explain the Nixon-Ford economy) which crippled our nation during their administration.

Ya know PC there are liars of commission and liars of omission and some - like you - who are purveyors of both.

I never lie.


Ever.


Here's an example which will serve as proof:

You're as dumb as asphalt.
In your optimum environment, you'd be locked in a life and death
struggle with mushrooms.

 

[Wry Catcher]

Youngsters may not remember WIN (Whip Inflation Now) which was Ford's response to the STAGFLATION

too stupid!!! If Ford did not know what inflation was so what, Friedman did!!
Case closed!! Friedman was right and all agree!!. Do you have any idea at all what point you were trying to make??

Clearly you don't. Maybe if you stopped being an asshole partisan punk you might be able to figure out the self evident. Let me spell it out for you:

1. PC called the economy "Carter's Malaise"

2. I pointed out the economy tanked during the Ford Administration

3. I didn't write nor did I even suggest Ford didn't know what inflation was. Which makes you a liar as well as an asshole and a partisan punk.

4. PC lied by Omission by Commission (I suppose that's too abstract for you).

5. **** off, you are one of the most arrogant and obnoxious jerks whose posts I've read on this message board.

 

[EdwardBaiamonte]

1. PC called the economy "Carter's Malaise"

2. I pointed out the economy tanked during the Ford Administration

so what??? our economy tanked during Bush but that does not absolve Barry for years of failure?? Why not think before you post?

 

[EdwardBaiamonte]

5. **** off, you are one of the most arrogant and obnoxious jerks whose posts I've read on this message board.

But dear, is there anything, anything at all that you find mistaken in conservatism or libertarianism? If you cant say but are still a liberal that ought to tell you something about the bigotry of liberalism.

 

[Wry Catcher]

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.

lol, "Carter's malaise"? Time to read a little real history and put down the spark notes on all the right wingers you quote. Youngsters may not remember WIN (Whip Inflation Now) which was Ford's response to the STAGFLATION (a word which needed to be invented to explain the Nixon-Ford economy) which crippled our nation during their administration.

Ya know PC there are liars of commission and liars of omission and some - like you - who are purveyors of both.

I never lie.


Ever.


Here's an example which will serve as proof:

You're as dumb as asphalt.
In your optimum environment, you'd be locked in a life and death
struggle with mushrooms.

Your example is a very very weak ad hominem attack; your defense ("I never lie") is belied by your 'work' on this message board.

The most important problems facing Americans according to polling prior to the 1976 election (ford v. carter) were:


1. Inflation/High cost of living/High prices/Economic situation, and

2. Unemployment/Recession.

Hence the need for a new economic term to describe items one and two: Stagflation.

The economic malaise, a term Carter used in a TV speech to the nation was not his doing. Much like the Great Recession of this century is not Obama's doing. Liars continue to blame Carter and Obama for the economic mess they inherited. PC and EB are two of those liars.