I doubt we were ever out of the recession, but no need to quibble over semantics.
While the rabbi clearly has no understanding of the mess Obama inherited from that filthy god damned scum Junior Bush, there is little question what the nation is going through now are economic shudders signaling the permanent death of the blue collar middle class.
It is unlikely there is ever going to be a traditional recovery is my initial point. Reagan's agenda was to destroy American labor as a partner in America's economic growth. He started with Keynesian nonsense hilariously called "supply side" and caused the double dip recession of 81-82. Then he destroyed the S&L industry, lenders entirely focused on smaller loans in blue collar areas, before he bailed out the BUYERS of S&Ls and Wall Street after the crash. But Reagan's killer blow was pardoning about eight million illegal aliens, which is pretty funny given how many of his human cattle supporters still think he gave a shit about them.
The actual objective of Reaganomics is a labor class as chattel bouncing back and forth between nowhere jobs and government checks. Clinton finished the job on blue collar labor with NAFTA and exporting millions of decent jobs to the PACRIM while bragging about creating millions of scut jobs for the blue collar set. For good measure Clinton deregulated speculation in commodities and ended Glass Steagall.
The only president in recent memory to understand economics was Pap Bush and look what those filthy god damned nutball scum did to him?
The consequence of all that malfeasance in public office is a permanently bifurcated nation; going forward there will be about a third of the people who are golden due to being well enough educated to fake it among bourgeoisie, another third whose fortunes remain wildly dependent on the global economy, and the bottom third who neither party gives a **** about and under Clinton Democrats stopped pretending to care about.
Probably the best hope for any kind of restoration of blue collar fortunes in America is another serious crash, something that is increasingly likely due to Obama's continuing to turn a blind eye to the FED buying securities, a practice Nixon started and Reagan seriously abused before that halfwit inheritor Junebug turned his bag licking cabana boy Greenspan loose with taxpayer money.
While Obama is not innocent, his real problem is he is too stupid to understand the situation and people like Geithner and Lew are there to make sure that he, like Reagan, Clinton, and Junior Bush, stays that way.
The malfeasances of the last 33 years seem unlikely to end well is my summary point.
You lost me when you declared Supply Side economics to be Keynesian. What ARE you talking about?
Keynes was a demandsider whose unfortunate claim to fame is the idea that government can
and should stimulate economic demand during rough patches. The short version is that Keynes believed putting money in at the top (supply side, to ReagaNUTs) preserved enough jobs to be worth doing, hence bridge building and WPA programs, etc., A bonus was some of that money went to the street where in theory it might create demand. The reality is The New Deal did NOT create demand because all putting money in at the top does is slow the bleeding. It does NOT create demand.
Keynes felt government was limited to slowing or stopping the bleeding - saving some jobs more than creating new ones; he was not crazy enough at any point in his life to believe government could actually GROW an economy. That kind of idiocy is for alchemists, perpetual motion enthusiasts, mindless freakshow liberals - and corporate welfare hounds (aka "supply siders").
Corporate welfare - tax breaks, free land, whatever, aka, "supply side" in ReagaNUT lingo, is STILL money going into the economy at the top, EXACTLY the same as giving money to state and local government to piss away. FWIW many do not realize state and local governments are also corporations, albeit PUBLIC corporations.
As to Reagan per se, Don Regan and other corporate welfare enthusiasts understood Reagan wasn't the sharpest tack in the box. They correctly believed they owned the man to whom corporate welfare could be sold as a job creator. The rest is history.
Regan, Schultz, Weinberger, Simon, et al realized two things: 1) US birth rates were slowing; and 2) western labor shared in profits at levels Asian , Latin and African labor did not.They also realized that while no US president could cripple "western" labor, there were two primary ways to cripple US labor: 1) dilute the labor pool; and b) export well paying blue collar jobs.
Reagan opened the borders, then pardoned eight million illegal aliens.
Reagan then began to attack private sector unions and to reduce tariffs.
It is not likely Reagan was aware of any of this. Not only did he not have any understanding at all of economics, he was he on the leading edge of dementia and his handlers kept him busy with meet and greets where he could tell foreign leaders his war stories based on movies he saw or was in.
It is very likely the only stupider president than Reagan in the last hundred years is Junebug Bush. Reagan tripled the national debt and for good measure increased the government workforce more than any president before him except Roosevelt.
Hilariously, Clinton took ReagaNUT policy to the hoop with NAFTA, deregulating essential commodities and ending Glass Steagall. The combination of Alan Greenspan, Robert Rubin and a halfwit-inheritor president was more than the US economy could stand.
Obama is an economic idiot as well, only his Greenspan (Bernanke, is lost in space) and Geithner is to put it mildly, over his head. Jack Lew is another corporate sycophant, so not much is going to change.
Whichever one of you said I loathe both parties is correct. Neither gaggle of filthy ******* scum represents me. I was born when Truman was president; I liked IKE and even Nixon. Kennedy was okay. None of the rest of the presidents in my life were worth a ****.
Opinions will vary from my thoughts on the presidency, but there won't be many posting anywhere with my understanding of economic systems. Economics since about 1980 or so is full of jargoNUTs, but there are parallels with the farm: to wit: if it walks like a duck, swims, flies and quacks, well, it just might be a duck. Putting money into any economy at the top to stem the bleeding of jobs is Keynesian. Period.
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