ralfy
Gold Member
- Feb 26, 2015
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LOL!!!What we're seeing is the result of more than three decades of Reaganomics.
Reaganomics ended when Bush I reneged on his no new taxes pledge.
What we're seeing is the result of 6 years of Obanomics. That is crony capitalism, higher taxes, high levels of regulation, and Treasury raids on businesses. No one is hiring in this environment. No one is investing in this environment. No one is taking chances because just having this government around is a chance.
Tax cuts continued with Clinton, Bush II, and Obama.
Crony capitalism is the result of free market capitalism, as the financial elite take over and the government starts working for them. That's why Washington works for Wall Street. That's why the Fed is a private consortium of commercial banks.
There was no increased regulation but the complete opposite. That's why notional values of unregulated derivatives ballooned.
Hiring and investing are down because the country has gone through four decades of incessant consumer spending and debt across the board. Check the chart in this article for details:
Krugman and the pied pipers of debt