Reaganomics - The Destruction of the Family

[Truthseeker420]

The economy was in the dumps when Reagan took over. The Reaganomics proponents proceeded to avoid a prolonged slump in the economy as follows:

Solution One: To the question "How do we get people to spend" was answered with an onslaught of invitations to consumers to use credit: Cards became easy to get. A dog qualified for a credit card.

Solution Two: When that started to slow down: Second Mortgages became the rage and easy to get.

Solution Three: When second mortgages slowed down: Creative Home Refinancing schemes to Make it easy for more people to get ATM Homes.

Solution Four: To keep this third economy fuel going: Let's keep raising the value of homes.

Solution Five: "The Ownership Society" - Everyone gets have an ATM Home. Party on!

The Result: Most had easy credit available to them and became accustomed to leaning on credit to thrive instead of doing financial planning and/or budgeting.

Another Solution to Reduce Government: The question: How can we relieve the burden on State and local budgets was answered by the Reagan administration by reducing the social safety net roles of state and local entities.

The most heartless was the withdrawal of federal funding which caused the closing all the safety net housing institutions for those who could not support themselves who were 'not a threat to themselves or society'. This huge population of disabled people where thrown out onto our streets as the first big wave of homeless in America and the expensive institutions simply locked their doors.

Heartless economics, my term, was tolerated by all I think because those fortunate enough to not be one of them didn't dare speak up. I could be wrong. But I remember when, all of sudden, the streets of Boston became full of homeless people who were obviously handicapped.

At the end of the 80's, the Savings and Loan scam spun the "fuel the economy ball" until it burst. Deregulation became the mantra to solve the illegality of S & L schemes. Today, the housing bubble is really the S&L on steroids.

Then the really greedy: Let's create Hedge Funds and trade debtor transactions, ie, Mortgage Backed Securities and Credit Backed Securities. This created a world wide gathering of the rich and powerful who became the owners of our debt. Won't they demand repayment?

Any thinking economist would have seen today's debt disaster as becoming inevitable. Where were those voices?

We are back to the economy of the late 1970s. Reagonomics and the ensuing deregulation of financial markets were band aids. Razzle Dazzle!


Daily Kos: Reaganomics - The Destruction of the Family

Reagan turned the the one person working to build equity and stable family life into a Walmart working family using credit just to live.

 

[CrusaderFrank]

Dumbest fucking op of the day

Sent from my DROID RAZR using Tapatalk 2

 

[Mr. H.]

My dog once charged $450 at a Pets-R-Us.

 

[Stephanie]

oh dear gawd, dailykos causes the destruction of brain cells...and that the Op would fall for anything from there by posting this thread proves it

is there no one a leftie won't blame for their miserable lives? Reagan 23 YEARS AGO...

what happened to that HOPEY CHANGEY that was going to ride in and SAVE US ALL?

 

[Wyatt earp]

The economy was in the dumps when Reagan took over. The Reaganomics proponents proceeded to avoid a prolonged slump in the economy as follows:

Solution One: To the question "How do we get people to spend" was answered with an onslaught of invitations to consumers to use credit: Cards became easy to get. A dog qualified for a credit card.

Solution Two: When that started to slow down: Second Mortgages became the rage and easy to get.

Solution Three: When second mortgages slowed down: Creative Home Refinancing schemes to Make it easy for more people to get ATM Homes.

Solution Four: To keep this third economy fuel going: Let's keep raising the value of homes.

Solution Five: "The Ownership Society" - Everyone gets have an ATM Home. Party on!

The Result: Most had easy credit available to them and became accustomed to leaning on credit to thrive instead of doing financial planning and/or budgeting.

Another Solution to Reduce Government: The question: How can we relieve the burden on State and local budgets was answered by the Reagan administration by reducing the social safety net roles of state and local entities.

The most heartless was the withdrawal of federal funding which caused the closing all the safety net housing institutions for those who could not support themselves who were 'not a threat to themselves or society'. This huge population of disabled people where thrown out onto our streets as the first big wave of homeless in America and the expensive institutions simply locked their doors.

Heartless economics, my term, was tolerated by all I think because those fortunate enough to not be one of them didn't dare speak up. I could be wrong. But I remember when, all of sudden, the streets of Boston became full of homeless people who were obviously handicapped.

At the end of the 80's, the Savings and Loan scam spun the "fuel the economy ball" until it burst. Deregulation became the mantra to solve the illegality of S & L schemes. Today, the housing bubble is really the S&L on steroids.

Then the really greedy: Let's create Hedge Funds and trade debtor transactions, ie, Mortgage Backed Securities and Credit Backed Securities. This created a world wide gathering of the rich and powerful who became the owners of our debt. Won't they demand repayment?

Any thinking economist would have seen today's debt disaster as becoming inevitable. Where were those voices?

We are back to the economy of the late 1970s. Reagonomics and the ensuing deregulation of financial markets were band aids. Razzle Dazzle!


Daily Kos: Reaganomics - The Destruction of the Family

Reagan turned the the one person working to build equity and stable family life into a Walmart working family using credit just to live.

that was the 60's that ruined everything... asshat.

 

[Vox]

daily kos