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Did Reaganomics Work?

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Wade Hampton III

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Re: Did Reaganomics Work?

PostWed Dec 07, 2016 6:11 pm

Reaganomics then and now:

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Robert Parker, Robert Parker, CEO of Holborn Assets - Holisitic
Financial Planning Services, Dubai, Written Nov 26 posted....

The Bretton-Wood agreement was not bad, at least not for us.

https://www.quora.com/What-was-bad-abou ... ting-rates
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Wade Hampton III

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Re: Did Reaganomics Work?

PostFri Jan 20, 2017 6:02 am

Was Reagan a bad president? Why?
Mike Bowerbank
Mike Bowerbank, Support and Analytics
Written Mar 4, 2016

This is not a yes or no question. It's a yes AND no question.

When Reagan took office, inflation, unemployment, and interest
rates were all in the double-digits. That's unthinkable today,
but that's how it was. When Reagan left office, all were in
single digits. It's hard to knock that. On that score, it was
a successful presidency. Here are some other good things:

In 1980, the United States seemed like a nation in decline. Just
four years later, you would never have thought that. The country
rewarded Reagan with a one-sided near-sweep in the 1984 election.
Mondale took Minnesota... Reagan took the rest of the states. Reagan
loved Gorbachev. The two men hammered out treaties and nuclear
reduction treaties. Reagan signed an acid rain treaty with Canada.
The Soviet Union was going bankrupt - Reagan helped hurry its demise.

On the other hand, there were the bad things, screw-up, and scandals:
Reagan's disastrous idea to deploy troops in Beirut led to the deaths
of hundreds of Marines. Not one balanced budget. Nowhere even close.
Deficits soared and the debt ballooned. He armed Iraq and was friends
with Saddam Hussein and we all know how that ended a few years later.
Reagan hated the Soviets so much he armed and funded radical Afghan
fighters to fight the Russian occupation; many of those fighters would
go on to form the Taliban. Reagan vilified the Iranian mullahs, but
still saw fit to swap arms for hostages, sell weapons to Iran, and
use profits to fund an illegal war in Central America. Reagan's
administration was terribly corrupt - look up how many of his team
were indicted... your jaw will hit the keyboard. (Hint: more than
137 but less than 139.)

Every president's legacy is a mixed one, but with Reagan, it was
extreme highs and extreme lows. When he was good, he was excellent.
When he was bad, it was unimaginably terrible.

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Wade Hampton III

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Re: Did Reaganomics Work?

PostFri Mar 03, 2017 8:32 pm

Stockman on the legacy of Reaganomics:

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Wade Hampton III

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Re: Did Reaganomics Work?

PostMon Jan 08, 2018 10:30 am

Which was worse...Reaganomics or Jimmy Carter's stagflation?
John Cate...U.S. citizen my whole life....

That depends.

Stagflation is always bad, and it wasn’t a “transitional phase.” It was caused by
disastrous economic policies started during the Nixon years (both parties were to
blame), and accelerated during the Carter error, a time in which the Democrats held
a super-majority in Congress for a few years and mismanaged everything all to hell.
We were well on our way to being present-day Venezuela by 1980. Reaganomics —
supply-side economics — was the correct solution to the problem, because it freed
up capital for American financial and industry to begin expanding, and within 18
months, brought the economy out of a deep recession — the worst this country had
suffered since the 1930s. The U.S. economy then took off and expanded continuously
for nearly nine years. When you hear Democrats whine about Reaganomics and call it
“trickle-down economics” or other bull****, remember that Reagan got the idea from
a Democratic President, who introduced similar reforms during his Presidency. His
name was John F. Kennedy:

“It is a paradoxical truth that tax rates are too high and tax revenues are too
low and the soundest way to raise the revenues in the long run is to cut the rates
now ... Cutting taxes now is not to incur a budget deficit, but to achieve the more
prosperous, expanding economy which can bring a budget surplus."

– President John F. Kennedy (November 20, 1962)

However, and I’ve said this before, supply-side theory brings diminishing returns.
There comes a point where continuing to cut taxes, especially on business income
and capital gains, no longer helps the economy or benefits ordinary citizens, but
simply becomes corporate welfare. And Republicans don’t seem to know when enough
is enough. Taken too far, supply-side economics can be as bad for ordinary people
as stagflation is, because then the tax bill falls too much on them. Supply-side
economics is to Republicans what “stimulus packages” are to the Democrats. It’s
their cure-all panacea to economic problems, and it works at first, but neither
side knows when to quit.

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