Did Reaganomics Work?

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Wade Hampton III
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Did Reaganomics Work?

Post by Wade Hampton III » Sun Oct 05, 2014 2:08 am


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Re: Did Reaganomics Work?

Post by Wade Hampton III » Wed Jun 17, 2015 6:47 am

Reaganomics Doesn't Work!

http://qz.com/429487/a-new-imf-study-de ... economics/

Adding another nail to the coffin of Reaganomics, a recent study published
by the International Monetary Fund (IMF) has concluded that, contrary to
the principles of “trickle-down” economics, an increase in the income
share of the wealthiest people actually leads to a decrease in GDP growth.
“The benefits do not trickle down,” the authors of the study write,
directly contradicting the theory that US president Ronald Reagan popularized
in the 1980s. Reagan argued that decreasing the tax burden for the rich – investors,
executives, corporations and the like (such as The Chosen Ones) – would not only
increase their own income but stimulate broad economic growth as they create
opportunities for others’ increased prosperity. This belief has been at the
center of conservative economic thought in the United States and abroad since
Reagan’s presidency, during which he cut tax rates for the rich.
Not Much To Smile About Now
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:cry:

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Re: Reaganomics On Steroids!

Post by Wade Hampton III » Fri Sep 04, 2015 9:14 pm

Great Job Additions For Table Waiters!

Harry Dent wrote...

It seems our economic growth may be gradually slowing to a
standstill. In August, the U.S. economy posted the weakest
job additions in five months, according to the Bureau of
Labor Statistics. This is despite the unemployment rate
ticking down to a seven-year low (5.1%). On the bright
side, Dent Research finds that the majority of the 140,000
private-sector jobs were created above the median wage
line. However, further analysis reveals continued weakness
in middle-paying jobs. Just like last month, middle-
income workers get left behind in what we've been calling
the “U-shaped recovery” in jobs. The job additions reflect
a clear preference towards the highest and lowest paying
industries. Just 14% of newly-created jobs went to the
middle third of the wage scale. Meanwhile we saw equal
strength in the lowest and highest thirds, with each
sharing 43% of August's hires. The most alarming
takeaway is that nearly 30% of the job gains fell
in the lowest wage bucket. Restaurants and bars were
the biggest winners in August, alone adding over
26,000 workers. But these jobs pay an industry
average hourly wage of just $12.85. Hardly an
inspiration.
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Wade Hampton III
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Re: It Was True, But Was It Accurate?

Post by Wade Hampton III » Sun May 15, 2016 10:12 pm

Fans of the Gipper tell us the economy rebounded, inflation was
tamed, incomes rose, unemployment fell, and the Evil Empire was
defeated. What’s not to love?
definitely-not-forgotten
definitely-not-forgotten
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http://www.selfreliancecentral.com/2016 ... PENSDBASI1

Wade says, "Thanks to The Gipper, Jamie Dimon rules!"
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http://www.imdb.com/title/tt0081974/
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Re: Did Reaganomics Work?

Post by Wade Hampton III » Fri May 27, 2016 3:01 pm

Greenspan & Reaganomics!

Yakkity Yak Bill • 2 hours ago posted....

Our problem has been developing since the 1980's when we
cut taxes with the absurd idea that if the rich were
allowed to make more it would somehow filter down to
the working class and poor. First off greed under no
circumstances can be satiated, it simply demands more.
A cursory glance at history leaves no doubt. In the
1920's we began cutting taxes on the upper brackets
and a wealth transfer took place until the whole thing
collapsed in 1929.
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After the crash the causes for the crash, banks and
financial institutions failed and the government bailed
the working class out. Taxes were raised back up till
they reached the high point of 92% on the top bracket.
The wealth began to even out once again until we
started the whole process of cutting taxes over again
in the 1980's. A huge wealth transfer process began all
over again and the economy crashed again in 2008.
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It was nearly as bad as the crash of 1929 but because
government had put a floor under the poor it wasn't
nearly as noticeable. This enabled the oligarchs to
divide people buy calling those that were unemployed
"takers". These were the same people that stood in
soup lines in the 1930's and women who sold their kids
because they couldn't feed themselves, let alone their
children. This time we bailed the causes of the crash
out and left taxes alone. What this means is the problem
hasn't been fixed so we can expect a much larger crash
in the near future which the nation probably won't survive,
at least not as we know it.

http://www.newsmax.com/Finance/StreetTa ... id/730990/

Omni • 3 hours ago posted...

Where was this JERK's "insight" when he was the Fed chair?
We don't need him NOW!!

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Re: Did Reaganomics Work?

Post by Wade Hampton III » Wed Jun 01, 2016 9:10 am

“The collapse of urban cultures is an event much more
frequent than most observers realize. Often, collapse
is well underway before societal elites become aware
of it, leading to scenes of leaders responding
retroactively and ineffectively as their society
collapses around them.” – Sander Vander Leeuw,
Archaeologist, 1997

http://evonomics.com/trump-phenomenon-i ... oligarchy/

Over time, transformed societies forget why they implemented
reforms; Economic Royalists creep back and the cycle starts anew.
1980-2000s: Reagan removes the Fairness Doctrine and stops
enforcing antitrust laws; Economic elites argue we need to
modernize finance by getting rid of Glass-Steagall; Tax rates
on the wealthy plummet while infrastructure crumbles...
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Re: Did Reaganomics Work?

Post by Wade Hampton III » Tue Nov 01, 2016 8:39 pm

The Jew-Controlled Wall Street Casino!

David Stockman posted...

Harvard windbag and former Treasury Secretary Larry Summers recently
floated the idea that the Fed should start buying common stocks to
buoy the markets. What does that say about the state of the casino?
It means the end is probably near. That is an act of desperation.
That is an idea that no economist worth his salt even 20 years ago
would have contemplated for one moment. What in the world would
buying stocks do except inflate the value of stocks? This is about
as far from the Keynesian catechism as you can get. As bad as Keynes
himself was about so many things, he never imagined half the things
that are seriously being discussed today. So our monetary rulers
have pursued policies that have led to a dead end and the looming
crackup of bubble finance. It started with the Maestro, Alan Greenspan,
in the 1990s. But it’s become a runaway freight train since the Panic
of 2008.

Now our monetary masters are flailing about desperately trying to
explain why they weren’t wrong and why their policies will work if
only another bold extension of that policy were to be embraced at
the present moment. They won’t. It’s all desperate nonsense. And
that’s the main reason I believe we’re going to have a crackup. The
word that comes to mind to describe all this is “madness.” Today’s
policy is the very opposite of what monetary policy attempted to
do in the early ‘80s when the Reagan era began. Granted, the
circumstances were different then, for different reasons. Inflation
was the bugaboo then. Today, Yellen and her fellow dunces in Europe
and Japan can’t even generate the 2% inflation they falsely think
holds the key to economic prosperity. But in those days we had people
like Paul Volcker, who didn’t think the central bank was the crucial
agent of capitalist prosperity. Nor did he believe he had to supervise
and control every aspect of the market economy. He had a far more
modest conception of his role. That is to say, a far more realistic
conception of his role.
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Volcker jacked rates to a peak of 20% in June 1981 because inflation
had gotten way out of control due to the excess monetary stimulus of
the ‘70s. The monetary machinery had gone into overdrive after Nixon
closed the gold window in 1971 and Imperial City discovered the
unlimited freedom of a printing press unshackled to gold. Volcker
sought to correct that error. So doing, he paved the way for
conventional capitalism to heal itself and restart the process
of growth, investment and wealth creation. But the mentality we’re
saddled with today is altogether different. Janet Yellen and her
merry band on the Federal Open Market Committee (FOMC) think they’re
the indispensable twelve. Without them at the dials constantly watching
the incoming data and taking appropriate action, the whole economy will
go to seed. Rubbish! That is a foreign conception to the original purpose
of central banking. But it’s a measure of how far we’ve waded into the
monetary swamps. And none is deeper than the swamp located at the Eccles
Building. As I say in my book, Trumped!, it’s created a “mutant capitalism”
that really has no historical precedent. Nor does it have any grounding in
traditional economic theory. It’s the stuff of cranks.
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As I’ve said before, they’re just making it up as they go along. And
it’s getting crazier by the day. Larry Summers’ jabberwocky about the
Fed buying stocks is just the latest example. With a properly functioning
(no Jews) media, folks like Summers would have been laughed out of town
years ago. But unfortunately, the mainstream (Jew) media is simply the
financial establishment’s (Jews & Shabboz Goys) broadcasting arm. Make
no mistake, the mainstream financial press is Wall Street’s bullhorn.
Nothing else matters as long as stocks rise, come hell or high water.
And it’s fully on board with the idea that there’s nothing wrong with
eight years of “unconventional monetary policy.” Of course, Washington
and the Beltway politicians love that same unconventional monetary policy
since it’s kept the yield on the massive debt that they’ve created so
low they can pretend it’s practically free. So you have the worst of
both worlds in what I call the Acela corridor. Wall Street and its media
toadies applaud this policy because it keeps stocks artificially elevated.
And Washington applauds it because it lets them off the hook for the massive
fiscal crisis they’ve generated.

And let’s face it, folks: Nowhere is the anti-Trump more evident than the
establishment media. The fact is, it’s attacked the Trump candidacy in a
way I’ve never seen before. It’s nothing short of a media jihad, or an
assassination campaign. Nothing is too trivial to use as an indictment of
Trump’s character, his temperament or his inexperience. This is extraordinary
in its intensity, and I don’t think we’ve seen the end of it yet. In its war
on Trump, the so-called liberal press has become downright McCarthyite in its
baiting of Putin and its griping about supposed Russian hacking. They’re trying
to divert the American people’s attention away from the substance of the leaks.
They’re shooting the messenger. Of course, there’s no real proof Russia is the
messenger at all. The press is simply parroting the hysteria wafting out of
Imperial City’s national security catacombs. Imperial City and its media errand
boys are trying to make Putin out to be another Hitler. Come on! The threat
from Russia is thoroughly exaggerated, if it exists at all. But the national
security racket needs an enemy to justify its steep price tag. As I said, all
this diversionary talk about Russia is to simply defend the bipartisan status
quo against the threat of outsiders and disruptors and people who haven’t been
schooled in the fundamental rules of Washington.

Needless to say, the Republican establishment is a major voice in the anti-
Trump chorus. When it comes to the political establishment, there’s only one
real party — the (Jew-controlled) Washington party. Its sole purpose is to
enrich itself and aggrandize (Jew) power. It’s about the establishment squeezing
the system for every dime (isn't that what Jews do?), holding power and perpetuating
the regime. I don’t know any other way to explain it. But the laws of economics
will not remain silent forever. It’s only a matter of time before the fantasies
of the Welfare/Warfare state ends in a harsh and unfortunate way. And the “deplorables”
in Flyover America can sense it coming. That’s why we have a Donald Trump. The
American people have completely and utterly lost faith in the establishment and its
(Jew) media. Now, it’s not so much that the program Trump put forth is compelling.
In fact, his program is hard to discern. It’s more sound-bytes and slogans that
seem to change from day to day. And Trump’s no ideological conservative. He’s
not going to start rattling off passages from the Federalist Papers or quoting
(Shabboz Goy) William F. Buckley.

The reason the public is responding is because he’s saying, “I’m not part of that
establishment. I’ve not been there for 30 years drinking the Kool-Aid. I’m not
part of the rigged game. No one has paid me off and I’m not part of this pay-
to-play syndrome that has enveloped Washington.” That message, if inarticulately
delivered at times, is why there’s an insurrection unfolding and Trump has become
the vehicle for its expression. But let’s not forget, Bernie Sanders was also a
vehicle for its expression. If it weren’t for behind-the-scenes scheming within
the Democratic National Committee, Bernie Sanders probably would have gotten the
Democratic nomination. The rise of the anti-establishment candidates is the
American people’s way of saying, “we’ve had enough.” It’s possible a percentage
of Bernie Sanders voters, sick of Hillary, could respond to Trump’s message at
the polls next week. That, of course, shouldn’t happen in a rational political
universe because Sanders is about as left as you can get. Trump is a far-right
zealot in comparison. Whatever happens, and even if Hillary wins the election,
the jig is up for the party establishments and their enablers in the (Jew-owned)
mainstream press. The mask has finally been ripped off, and the American people
are seeing the monstrous face beneath. And there’s no putting it back on.
Former Reagan Insider
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Emily Henderson

Re: Did Reaganomics Work?

Post by Emily Henderson » Wed Nov 02, 2016 3:43 pm

These are great posts, Wade. An excellent thread.

It is absolutely true that Trump's huge rise and ability to stay atop the GOP heap was and is precisely because he is not your typical 'trickle down' Republican. This is true whether one likes or dislikes/does not trust Mr. Trump. Ted Cruz, or a similar standard GOP candidate, would never have generated this kind of excitement or momentum with their standard rhetoric.

He supports Universal Health Care (not 'Obamacare/Hillarycare' style, mind you, where billion dollar Insurance companies underwrite it, and it costs a fortune and doctors can opt out of taking it, but the 'single payer' kind they have in France); he supports income tax breaks that are huge for the working class and small families; penalties for Mexicans and other immigrants sending money back 'home' while they live and work here and pay no taxes (and stopping illegal immigration also puts the brakes on that); and tariffs on trade/incentives for companies to employ Americans in manufacturing again.

Everyone alive in the 1980's-even if you were a child-remembers when the jobs in manufacturing ceased to exist, by 1990 there were next to none. The 'working class/middle class' families who could live comfortably practically ceased to exist.

Entertainment became blacker and blacker, the 'drug war' was out of control, and more illegals poured over the border than in the previous decade.

Crime-especially drug and gang crime involving guns and drive by shootings-shot up in both the eighties and nineties. Now it is a common aspect of all major city life in the U.S.

What Reagan did was continued in many, many ways by Bill Clinton-the NAFTA trade agreement, the housing/mortgage scams, illegal immigration becoming more out of control, including more and more freebies to illegals, drugs were out of control, even more so with the heroin surge in the nineties.

And then George 'Dubya' Bush gave us the worst terrorist attack on US soil in history, two wars with a huge death toll, gas that was several dollars a gallon-and that gave us our first negro President. Now we watch 'Black Lives Matter' kill Police and declare White people the biggest problem on planet earth. Not to mention men dressed as women in store bathrooms.
And I don't believe he ever even closed Guantanamo, lol.

We have a two party system in this country that is basically funded and controlled by the same entities-their agendas are basically the same. It's only when you step outside of this that you could effect actual change.

I'm not sure how much change, but you have to start somewhere.

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Re: Did Reaganomics Work?

Post by Wade Hampton III » Wed Nov 02, 2016 7:13 pm

Emily Henderson wrote: Everyone alive in the 1980's-even if you were a child-remembers when the jobs in manufacturing ceased to exist, by 1990 there were next to none. The 'working class/middle class' families who could live comfortably practically ceased to exist.
Wade says....

Oh yes, I remember the death of manufacturing as a mainstay very well.
By the time Summer of '82 rolled around, I recall watching the Telly
and seeing over 5000 applicants in line for around 20 or so jobs in
some plant up North.

http://www.marketwatch.com/story/reagan ... 2010-08-10

Stockman quit the Reagan administration out of disgust because he could
see where it was going....

http://www.usdebtclock.org/

A $1T deficit seems tame by today's standards, but I can remember as a
teen back in 1962 a hailstorm of controversy when JFK's budget went over
$100 billion for the first time. Yes, you read that right..no typo.
THE ENTIRE FEDERAL BUDGET WAS ONLY $100 BILLION! Of course back then,
the US dollar was worth 1/35th of an ounce of gold, and silver coinage
was still in circulation.

Money is the glue that holds civilization together and it is how we as
individuals interact in a social context. Destroy that, and you have
barbarians at the gate.
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Re: Did Reaganomics Work?

Post by Wade Hampton III » Mon Nov 07, 2016 6:50 pm

David Stockman, former Reagan insider, posted....

We just had another "Jobs Friday" report and the underlying message
could not have been more hostile to the "all is awesome" meme of
the Wall Street/Washington establishment. Nor could it have been
more timely and apt on the eve of an election where Donald Trump's
insurgent candidacy has a fighting chance of crossing the finishing
line, despite yesterday’s about-face by FBI director James Comey.
The U.S. lost another 9,000 manufacturing jobs in October. That
brings the year-to-date loss to 58,000 jobs in this breadwinner
section of the labor market and compares to a 10-month gain of
275,000 low-pay, part-time jobs in the bartender and waiter category.
Needless to say, this divergence has been underway for a long time.
Since the pre-crisis peak in December 2007, in fact, the U.S. has
lost 1.5 million manufacturing jobs, while gaining 1.7 million
bartenders and waiters at a fraction of the pay.

But forget the jobs picture. Look at the markets. They’ve gone precisely
nowhere for two years… Way back on October 28, 2104 the S&P 500 first
crossed the 2090 marker. So here we are 729 days later and it ends up
smack dab where it started. And that was before anyone thought Trump
was actually running or crowds were chanting "lock her up" about Hillary.
It was also before the Fed had demonstrated it was fully as craven and
confused as is now evident.
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Moreover, during the trailing 12 months (Q3 2014), reported earnings
for the S&P 500 had posted at $106 per share, meaning that the market
was trading at a pretty sporty 19.7X. But never mind. Reported earnings
have dropped for seven straight quarters since then to $90 per share,
thereby goosing the PE multiple to the nosebleed section of history
at 23.2X. You would think that the prospect of a government paralyzed
by impeachment (if Hillary wins) or coming totally unglued (if Trump
wins) might have taken its toll. Indeed, the near certainty of
unprecedented gridlock and rancor in the next Congress is especially
threatening because the current debt ceiling expires in March. The
first task of the next Congress, therefore, will be to boost the nation's
public debt limit above the symbolic $20 trillion marker. Yet that won't
happen without repeated episodes of political brinkmanship and one or
more extended government shutdowns. An already fragile bond market,
where since July prices have dropped by upwards of 30% on the long end,
will be hammered with disruption and uncertainty.
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Likewise, even if Hillary does stumble into the Oval Office with a
slight edge in the electoral college, there is virtually no chance
her "coattails" will carry the House, or that she has any coattails
at all. Yet that prospect is more significant than a barrel full
of monthly jobs reports because it means the GOP will retain control
of all the House committees and the subpoena power which goes with
it. Accordingly, there will be a swarm of investigations about every
aspect of the Corrupt Clinton Clan — including Servergate, pay-to-
play at the Clinton Foundation and the prodigious heap of dirty laundry
and de facto confessions of wrong-doing and political corruption that
is embedded in the trove of Wikileaks. If given half the excuse, the
House of Representatives will be in the process of launching impeachment
hearings even before a putative Clinton Administration has filled even
half of its approximate 3,000 appointments to the sub-Cabinet and agencies.
On the other hand, a Trump victory would engender open warfare with the
Wall Street/Washington ruling elites and their servile megaphones in
the mainstream media.

Indeed, as was have repeatedly observed, Donald Trump was meant to
fatally disrupt and destabilize the machinery of the status quo.
Bring the house down, as it were. But he has no coherent program
to address America's failing economy or to hog-tie the nation's
rogue central bank and the self-perpetuating monetary politburo
that has transformed the vital money and capital markets of American
capitalism into dangerously unstable gambling casinos. In short,
the third great Financial Bubble of the century will blow-up the
minute a Donald Trump presidency is certified by the electoral college,
if not before. Another stock market crash, however, will be far more
devastating that the Lehman meltdown of September 2008 because this
time there will be no panicked Washington fireman at the ready.

Instead, there will be a Washington brawl and a fractured Fed with
no dry powder remaining after dithering for 95 months on the zero
bound. There is not a remote chance it can get approval from Congress
to buy stocks and corporate bonds, which are now outside it statutory
charter, and any attempt to press forward with sub-zero rates will
ignite a political firestorm in Trumpland America. So as I said on
the CNBC Fast Money show last night, the coming political and fiscal
conflagration is not remotely "priced-in".

My appearance was billed under the heading of "sell everything." But
that's not bombast or hype. The fact is, at 1 PM last Friday everything
changed when FBI Director Comey's letter landed on Capitol Hill. We
are now in Watergate 2.0 with a Teapot Dome equivalent thrown in as
a bonus. Comey’s sudden reversal yesterday probably raises a lot
more questions than it solves. The horse is already out of the barn,
and it’s unclear if yesterday’s announcement has any influence on
voters already convinced of Hillary’s underhandedness. Unless some
new bimbo eruption occurs around Trump today or tomorrow, this race
appears to be going down to the wire in the electoral college. As I
indicated the other day, Trump seems to have consolidated the Romney
Red base of 206 electoral votes including Utah, where the neocon spoiler
(Evan McMullin) appears to be fading rapidly. He also has a decent
chance of winning three battleground prizes in Florida, Ohio and Iowa.
That's another 53 electoral votes and would take him to 259. From
there it is anyone's guess about the outcome, but there is now a
growing certainty about something even more important. There is every
prospect that if Trump does not win he will loudly, aggressively and
bitterly contest the result. That would bring demands for recounts
and charges of voter fraud which the mainstream media would interpret
as racially charged. It will be about Philadelphia and maybe even Detroit.
Stated differently, we have a condition of massive risk and no reward
in the stock market, and a perfect storm of political breakdown and
economic recession steaming right at it. Under normal conditions, the
casino would be emptying out save for the night watchman. But after
20 years of Bubble Finance the punters and robo-machines are incapable
of heeding the warnings.

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