cawacko
Well-known member
According to many the planet Earth would be much better off without humans but I don't believe that to justify TARP.
Jimmy Carter's role in winning the Cold War
- Thread starter Cypress
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According to many the planet Earth would be much better off without humans but I don't believe that to justify TARP.
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Bedtime for Bonzo's economic prowess is over-rated, and his litany of failures generally swept under the rug.
The 1982-83 recession was the worst on record until the next Great Republican Recession in 2008, and I believe Raygun made the 82 recession worse for reasons articulated previously.
The middle and late 80s saw some relatively decent macroeconomic numbers in terms of GDP and job growth. And we have to give some credit for that.
But often forgotten is that Raygun gutted unions, labor rights, and played a major role in putting the blue collar middle class into a death spiral.
Reagan's misguided attempts at austerity and de-regulation had long term negative effects.
The 1991 recession arguably can be traced to Reagan's policies of de-regulation and fiscal mismanagement. Do you even remember the S&L crisis, the historic budget deficits, the increases in poverty, Reagan's reaction to the HIV outbreak, 'welfare mothers' racism , the attacks on labor, the crimes against the Constitution, Iran-Contra, and utter fiscal mismanagment of the nation's federal budget?
PoliTalker
Diversity Makes Greatness
Hello cawacko,
You know, when they said that the way out of the great recession was for the government to spend a lot of money we didn't have, I naturally balked at that idea.
It was only after listening to the reasoning that I changed my mind and realized that despite our massive debt run up by the recession, that they way out of the mess was by taking on more debt. Now that it has worked so well, I am glad I listened. It didn't make any sense at first, but now it totally does.
You know, when they said that the way out of the great recession was for the government to spend a lot of money we didn't have, I naturally balked at that idea.
It was only after listening to the reasoning that I changed my mind and realized that despite our massive debt run up by the recession, that they way out of the mess was by taking on more debt. Now that it has worked so well, I am glad I listened. It didn't make any sense at first, but now it totally does.
cawacko
Well-known member
That’s a separate argument from TARP. Via TARP we bailed out the big banks at 100 cents on the dollar then we passed massive new regulations in the form of Dodd-Frank that punished small banks. How does that make sense? Small businesses are the engine of growth in our economy and it is small and local banks who are among their biggest lenders so because the big banks f’d up we decided to punish small banks who can’t afford to hire all the staff and lobbyists needed to deal with the new regulations that were placed on them like the big banks were.
And look at us today. We can’t hit 3% annual GDP growth and we have a Fed creating asset bubbles which places us in no different of a position today than we were prior to the financial meltdown.
Obama had multiple quarters with growth greater than 3%. It even hit 4% and 5% a couple of times.
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cawacko
Well-known member
Ok. Notice I didn’t say quarters? I said annual GDP growth. Obama was the first modern President to go his entire term (in his case two terms) without a single year of 3% GDP growth.
No, you said nothing about "annual" GDP growth. You just said "GDP growth".
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cawacko
Well-known member
The annual was implied
reagan had nothing to do with it though.
"The hostages were held for 444 days. During that period, the Carter administration tried to secure their release through a military operation, which failed catastrophically, and then through a series of secret negotiations.
The negotiations were protracted and very messy, largely because of tensions between Iran's hard-liners and more moderate factions within their government. On several occasions, the Carter administration believed it had reached a final agreement, only to see the deal scuttled at the last minute by Iranian leader Ayatollah Ruhollah Khomeini.
But Carter and his negotiators kept working through the very end of his presidency, and eventually, at the last possible moment, they succeeded. On January 19, 1981, the US and Iran signed the Algiers Accords, an agreement brokered by the Algerian government that secured the hostages' release in exchange for concessions by the US, including sanctions relief, the release of frozen Iranian assets, and the creation of the Iran–United States Claims Tribunal that would remove cases against Iran from US courts.
The hostages were released the following day, January 20, 1981 — the day Reagan was inaugurated."
https://www.vox.com/2016/1/25/10826056/reagan-iran-hostage-negotiation
Thanks for the contribution. I was not even sure what to make of that post? How is it even possible to imply Bedtime for Bonzo had a hand in getting the Iranian embassy hostages released?
What we know from Reagan's track record, is that he would have caved to Iraq, paid them bribes, illegally given them high tech American weapons, and made covert deals with Iran to win hostages freedom.
At least Carter could be trusted to not cave to Iran, not pay them bribes, not crater to terrorism, and he could be counted on to not give them jack sh*t.
you keep saying that.. we hit 2.9% under Trump and have added so many good jobs
Trump's job numbers just continue the trend established before the election.
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#STFU.
Obama lost 200k manufacturing jobs, Trump has gained 480k
cawacko
Well-known member
Is that a bad thing? Articles are written all the time about millennials not wanting cars and not wanting to drive. Should we work to change that attitude to help the car industry?
Obama lost those jobs, and a lot more, due to the Bush Recession. We're still a long way, over a million jobs, from getting all those jobs back.
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