Interesting Chart on US Debt history

[Rennie]

How old are you? If taxes don't redistribute wealth what does, the gnp? How much of the gnp has grown in the past 50 years by firing the monkeys, hiring machines, technology and outsourcing. What's wrong with making money at your expense? Don't you like to fire people, don't that make you feel good? Don't that make your day?

 

[Rennie]

Again, In 1979 the percent of monies spent was people 80% to government 20%. That might seem like a surprise for those who blame government for their problems.

To cut inflation in the 1980's someone had to get the people to sacrifice. By cutting government programs to less than 20% spending and redistributing wealth the dumb masses were unable to buy in frenzies that drive demand and prices up. This is a historical fact. Of course some "HELL NO Parties" will get their dumb masses to point and blame society and/or government spending. As if Ronald Reagan did not end up having to change public opinion (really changed after assassination attempt) was to end up conforming to public outcry, to raise taxes a bit. Another thing the Republican masses don't want to remember is that in order to create jobs, Reagan had to borrow money to help Small Business Administration. But to be taken seriously at that time, one had to do a 50-50 money up front by the business not the government to take advantage. The bigger businesses made a killing and now had the edge in deciding who can or cannot work. But the dumb Republican mentality brain washes their foollowers into not believing a word of it. Its the other guy who is to blame, "its the government fault"
When are they going to grow up. What happened to taking responsibility?

 

[Rennie]

From 1960's thru 1980's those earning more than 2 million annual income had 80% of the loot, now thanks to tax redistribution of wealth in the 1980's, well, you get the picture. The economy established thru Reagan's push helped make American gnp grow and trickled like a vacuum cleaner under an upside down pyramid. If you worked and earned a living in the 1950's, by the time the 1970's a house was paid off. But the economic frenzy in the 1970's meant that people had to sacrifice, quit the demand and stop spending. The only way to do that was to redistribute wealth to people more clever than you.

 

[Rennie]

This must be getting my goad. Hopefully the Republicans can convince their mass to sacrifice, otherwise if these people get money they will just spend it and create super inflation. They have got to learn to listen to reason and work so that the more entitled keep earning a bigger chunk of the loot (gnp). They earned it and depend upon the dumb masses to realize it.

 

[Rennie]

I actually believe that the people with the money have the power to fire and hire and that the Republicans did a great job castrating the government. Don't you just like to fire people? Isn't that great! If the dumb masses could blame the government, the U.S. will go nuts and try to figure something out. Maybe try to beg somebody who has more money. But, I ask who has more money than the government? Hmmm, guess those with most of the loot from the gnp are insignificant when it comes to how many people are hired and fired. Wow!

 

[Rshermr]

This must be getting my goad. Hopefully the Republicans can convince their mass to sacrifice, otherwise if these people get money they will just spend it and create super inflation. They have got to learn to listen to reason and work so that the more entitled keep earning a bigger chunk of the loot (gnp). They earned it and depend upon the dumb masses to realize it.

That is what the great republican noise machine is all about. If you study that, or more correctly read the studies that have been done on the subject, you find that the few very wealthy that want to keep their wealth and increase it at all cost know what they are doing. Principles from the best of the propagandist nations - Germany under Hitler, the ussr in the cold war years, and so on, have produced the theories. Like many people love to be mad. So they work on the anger issue all the time. Like the big lie theory. The bigger the lie, the more people will believe it. Like the repeat concept. Tell the same lie as often as possible in as many forums as possible. And so forth.
Then, they understand that many of any population want to be experts but do not want to do the work to study a subject. Simpler for them to just believe an authority figure. Like fox. Like Rush, for christ's sake. Or Redstate.com, or a hundred other well funded bat shit crazy con web sites. Why study a subject when you can have your authority figures TELL you what to believe.

 

[EdwardBaiamonte]

This must be getting my goad. Hopefully the Republicans can convince their mass to sacrifice, otherwise if these people get money they will just spend it and create super inflation. They have got to learn to listen to reason and work so that the more entitled keep earning a bigger chunk of the loot (gnp). They earned it and depend upon the dumb masses to realize it.

That is what the great republican noise machine is all about. If you study that, or more correctly read the studies that have been done on the subject, you find that the few very wealthy that want to keep their wealth and increase it at all cost know what they are doing. Principles from the best of the propagandist nations - Germany under Hitler, the ussr in the cold war years, and so on, have produced the theories. Like many people love to be mad. So they work on the anger issue all the time. Like the big lie theory. The bigger the lie, the more people will believe it. Like the repeat concept. Tell the same lie as often as possible in as many forums as possible. And so forth.
Then, they understand that many of any population want to be experts but do not want to do the work to study a subject. Simpler for them to just believe an authority figure. Like fox. Like Rush, for christ's sake. Or Redstate.com, or a hundred other well funded bat shit crazy con web sites. Why study a subject when you can have your authority figures TELL you what to believe.

of course conservatism is 2500 years old starting with Aristotle Cicero Locke Jefferson Friedman long before Goldwater, Rush, and Buckley . If you object to the American way, ie, freedom from big liberal govt why not tell us why?

 

[CrusaderFrank]

David Stockman is irrelevant

 

[EdwardBaiamonte]

David Stockman is irrelevant

yes he has been running around for 3 years claiming that financial doom was around the corner!!

 

[Rshermr]

David Stockman is irrelevant

yes he has been running around for 3 years claiming that financial doom was around the corner!!

You should not be so hard on your hero, ronnie's, man. By comparison, you two have zero credibility.

Though I have two admit, the two of you should understand irrelevant.

 

[EdwardBaiamonte]

David Stockman is irrelevant

yes he has been running around for 3 years claiming that financial doom was around the corner!!

You should not be so hard on your hero, ronnie's, man. By comparison, you two have zero credibility.

Though I have two admit, the two of you should understand irrelevant.

If you disagree with any of the great conservatives from Aristotle to Friedman please state your disagreement or admit as a liberal you lack the IQ to do so.

 

[Rshermr]

yes he has been running around for 3 years claiming that financial doom was around the corner!!

You should not be so hard on your hero, ronnie's, man. By comparison, you two have zero credibility.

Though I have two admit, the two of you should understand irrelevant.

If you disagree with any of the great conservatives from Aristotle to Friedman please state your disagreement or admit as a liberal you lack the IQ to do so.

You are not just a conservative, me poor libertarian clown. You are a libertarian. By your own admission. Still waiting for the successful libertarian social economic system, me poor ignorant libbertarian. And please, don't name the man made island that some rich libertarians are trying to establish. IT DOES NOT EXIST, DIPSHIT. It is just a wet dream of a few rich libertarians.
Libertarian Island: A billionaire's utopia - The Week
Hope you enjoy the link. The rational world have been laughing their ass off at this libertarian utopia. See yet why you can not be taken seriously???

 

[EdwardBaiamonte]

Still waiting for the successful libertarian social economic system, me poor ignorant libbertarian. ?

of course USA is most libertarian society in history and by far most successful in human history!! Do you understand now?

 

[Rshermr]

Still waiting for the successful libertarian social economic system, me poor ignorant libbertarian. ?

of course USA is most libertarian society in history and by far most successful in human history!! Do you understand now?

Please provide support that the USA is a libertarian society and economy. You are the only one that I know who believes that. And you, me boy, are no authority. You, as has been established, are a congenital idiot. Which, as we know, is not your fault. Just plain bad luck. But really, believing that Deadwood is an example of a libertarian country is also further proof of your malady.

 

[EdwardBaiamonte]

Still waiting for the successful libertarian social economic system, me poor ignorant libbertarian. ?

of course USA is most libertarian society in history and by far most successful in human history!! Do you understand now?

Please provide support that the USA is a libertarian society and economy.

I didn't say it was a libertarian society. I said it was the most libertarian and accordingly has been the most successful country in human history.

 

[Rshermr]

of course USA is most libertarian society in history and by far most successful in human history!! Do you understand now?

Please provide support that the USA is a libertarian society and economy.

I didn't say it was a libertarian society. I said it was the most libertarian and accordingly has been the most successful country in human history.

Ah. Good. So you admit that libertarian socio economic systems have all failed, and as a result there ARE NONE. Got it. Thanks so much, ed.

 

[EdwardBaiamonte]

Please provide support that the USA is a libertarian society and economy.

I didn't say it was a libertarian society. I said it was the most libertarian and accordingly has been the most successful country in human history.

Ah. Good. So you admit that libertarian socio economic systems have all failed, and as a result there ARE NONE. Got it. Thanks so much, ed.

What I said was that the USA is most libertarian and accordingly has been the most successful country in human history.

 

[Shanty]

I didn't say it was a libertarian society. I said it was the most libertarian and accordingly has been the most successful country in human history.

Ah. Good. So you admit that libertarian socio economic systems have all failed, and as a result there ARE NONE. Got it. Thanks so much, ed.

What I said was that the USA is most libertarian and accordingly has been the most successful country in human history.

Nah. The US has proven that libertarian policy is a failure. We went from good regulations on banks and Wall Street, and larger infrastructure and education spending, to cutting all of that to bring on the largest recession since Hoover.

 

[EdwardBaiamonte]

Ah. Good. So you admit that libertarian socio economic systems have all failed, and as a result there ARE NONE. Got it. Thanks so much, ed.

What I said was that the USA is most libertarian and accordingly has been the most successful country in human history.

Nah. The US has proven that libertarian policy is a failure. We went from good regulations on banks and Wall Street, and larger infrastructure and education spending, to cutting all of that to bring on the largest recession since Hoover.

sorry but all our great economists and newspapers on left and right agree Fed caused recession:

"First consider the once controversial view that the crisis was largely caused by the Fed's holding interest rates too low for too long after the 2001 recession. This view is now so widely held that the editorial pages of both the NYTimes and the Wall Street Journal agree on its validity!"...John B. Taylor


" The Federal reserve having done so much to create the problems in which the economy is now mired, having mistakenly thought that even after the housing bubble burst the problems were contained, and having underestimated the severity of the crisis, now wants to make a contribution to preventing the economy from sinking into a Japanese Style malaise....... - "Joseph Stiglitz"( uber left economist)

You may not have heard of the Federal Reserve system but it exists to inflate and deflate the currency supply through the housing market. They inflated too much for too long. This caused what they call a housing bubble. While the bubble was inflating all the big banks and many insurance companies bought bubble mortgages thinking they were sound rather than merely purchased or made possible by newly printed funny money. When the bubble deflated they all lost money on the mortgages. It would be analogous to the government making cars and giving them to GM so everyone could have a car. If GM got them by the ton and for very little money of course they would find a way to move them . This is essentially what the Banks did with the free money. In addition to the Federal Reserve System you had Fanny and Freddie which bought and guaranteed many of the mortgages so no one had to worry about them failing. Then you had CRA, FHA, Federal Home Loan Bank Board( 3% down payment loans) and several others that were designed to get everybody in their own home.

 

[Dad2three]

What I said was that the USA is most libertarian and accordingly has been the most successful country in human history.

Nah. The US has proven that libertarian policy is a failure. We went from good regulations on banks and Wall Street, and larger infrastructure and education spending, to cutting all of that to bring on the largest recession since Hoover.

sorry but all our great economists and newspapers on left and right agree Fed caused recession:

"First consider the once controversial view that the crisis was largely caused by the Fed's holding interest rates too low for too long after the 2001 recession. This view is now so widely held that the editorial pages of both the NYTimes and the Wall Street Journal agree on its validity!"...John B. Taylor


" The Federal reserve having done so much to create the problems in which the economy is now mired, having mistakenly thought that even after the housing bubble burst the problems were contained, and having underestimated the severity of the crisis, now wants to make a contribution to preventing the economy from sinking into a Japanese Style malaise....... - "Joseph Stiglitz"( uber left economist)

You may not have heard of the Federal Reserve system but it exists to inflate and deflate the currency supply through the housing market. They inflated too much for too long. This caused what they call a housing bubble. While the bubble was inflating all the big banks and many insurance companies bought bubble mortgages thinking they were sound rather than merely purchased or made possible by newly printed funny money. When the bubble deflated they all lost money on the mortgages. It would be analogous to the government making cars and giving them to GM so everyone could have a car. If GM got them by the ton and for very little money of course they would find a way to move them . This is essentially what the Banks did with the free money. In addition to the Federal Reserve System you had Fanny and Freddie which bought and guaranteed many of the mortgages so no one had to worry about them failing. Then you had CRA, FHA, Federal Home Loan Bank Board( 3% down payment loans) and several others that were designed to get everybody in their own home.

"Fed caused recession"

Did the Fed Cause the housing Bubble?

According to research by Ambrogio Cesa-Bianchi and Alessandro Rebucci, the housing bubble was caused by "regulatory rather than monetary-policy failures":

Economist's View: Did the Fed Cause the housing Bubble?




Was it easy money or easy regulation that caused the housing bubble?


… after the Fed started to tighten its monetary-policy stance and the prime segment of the mortgage market promptly turned around, the subprime segment of the mortgage market continued to boom, with increased perceived risk of loans portfolios and declining lending standards. Despite this evidence, the first regulatory action to rein in those financial excesses was undertaken only in late 2006, after almost two years of steady increases in the federal funds rate. …

When regulators finally decided to act, it was too late:

Was it easy money or easy regulation that caused the housing bubble? | AEIdeas




NOT THE FED


I noted earlier that the most important source of lower initial monthly payments, which allowed more people to enter the housing market and bid for properties, was not the general level of short-term interest rates, but the increasing use of more exotic types of mortgages and the associated decline of underwriting standards. That conclusion suggests that the best response to the housing bubble would have been regulatory, not monetary. Stronger regulation and supervision aimed at problems with underwriting practices and lenders' risk management would have been a more effective and surgical approach to constraining the housing bubble than a general increase in interest rates. Moreover, regulators, supervisors, and the private sector could have more effectively addressed building risk concentrations and inadequate risk-management practices without necessarily having had to make a judgment about the sustainability of house price increases.


FRB: Speech--Bernanke, Monetary Policy and the Housing Bubble--January 3, 2010



Regulators and policymakers enabled this process at virtually every turn. Part of the reason they failed to understand the housing bubble was willful ignorance: they bought into the argument that the market would equilibrate itself. In particular, financial actors and regulatory officials both believed that secondary and tertiary markets could effectively control risk through pricing.


http://www.tobinproject.org/sites/tobinproject.org/files/assets/Fligstein_Catalyst of Disaster_0.pdf



WORLD WIDE CREDIT BUBBLE AND BUST

Examining the big lie: How the facts of the economic crisis stack up | The Big Picture