NYcarbineer
Diamond Member
These types of threads are ridiculous. First the OP is disingenuous. There were two recessions during Reagan's first term. Why doesn't the article key off the first recession instead of the second? Next, the recessions are very different. It is now widely acknowledged that inflation was broken by Volcker and the Fed, which was the main reason why interest rates came down, causing a tremendous tailwind for the economy. Reagan did some good things for certain, but he also benefited from forces of which were completely beyond his control. Finally, Reagan fired Volcker, the greatest Fed Chair in history and replaced him with Greenspan, the most incompetent Chairman in history, and the man most responsible for the mess we are in today.
I remember paying 1.32 a gallon for gas in 1981, and 88 cents a gallon in 1986. Reagan got a perfect storm of positive economic changes from 82 on that he had nothing to do with.
btw, anyone remember what the BIG economic complaint was, domestically, in the mid to late 80's?
LOL, a 'depression' in the 'Oil Patch', i.e., the domestic oil production business, because prices were so low.

