long time guy wrote:
SomeGuy wrote:
long time guy wrote:
SomeGuy wrote:
long time guy wrote:
Reagan was terrible. His spending on defense drastically increased the deficit. His subsidization of big business while simultaneously mocking social programs were disastrous. S&L scandal was built mostly on the backs of Reagan supporters. He completely ignored the advice of Volcker with regard to inflation. Volcker favored an increase in the interest rate in an effort to curb inflation rate and Reagan rejected it.
His Iran Contract scandal was bigger than anything since Watergate and pound for pound it was bigger than Watergate. He polarized the country by playing identity politics. He started proxy wars throughout Latin America and provided cover for right wing dictatorships that utilized death squads to control their own people.
He fought a Cold War and spent money on useless defense systems while criticizing people for being on welfare. He rolled back the Pell grant system.
Wikipedia is a hell of a thing.
Are you saying interest rates didn't rise in the 80's ? Fed funds rate hit about 20% in the early 1980's and inflation went low single digits a few years after. The administration ate a recession to break inflation.
What the hell are you talking about?
And the other stuff you talk about are things that you said your for..... so whatever, Mayne.
No Wikipedia dude. Actually any book on the Fed has this information. Haven't read any in a couple of years but this was how I remembered. You peddle so much unsubstantiated shit it's ridiculous. Conspiracy theories usually pro right wing in nature. You lack validity and are the epitome of a hack.
Let me show you how correct sourcing is done you bum
http://m.huffpost.com/us/entry/3418868HuffPost? Yeesh, another pro-inflation, pro-Keynesian article written by a dunce and read by a halfwit.
Who do you think gave Volker the political will and cover necessary to do what had to be done?
Your insinuation that Reagan was somehow "pro-inflation" is ludicrous.
When you write "inch deep, mile wide" garbage like your above posts you really do a disservice to people with functioning brains.
And he did indeed "fight" a Cold War, historically he fought it well as far as the USSR is concerned. Although, t
he military buildup was done for more reasons than your probably aware.
You are an idiot whose ability to comprehend simple reading is lacking. The 20% fund rate was in place before Reagan took office. The interest rate was decrease shortly after Reagan took office. You reported incorrect info as usual and got called on it.
You never have any proof for any of the stuff you write. Yeah Reagan was anti inflation because he told you that he was. His record on the economy was terrible. I never remember him balancing a budget and his "pro growth" crowd was always making excuses for the huge deficits that he ran up.
Now he gave Volcker the "political will" to do what lower the interest rate? You just said it was raised during Reagan's time in office.
Just like you had Hillary Clinton
1.Dead
2. Strung out on drugs
3. Indicted
4. WikiLeaks scandalized
5. Responsible for every failure in the Obama administration
You are a farce and a damn joke.
Your tired anti-Reagan tripe is, well, tired. You're wrong on most. Lower inflation was part of his platform as inflation was one of the drags lingering from the 1970's and a direct result of Keynesian quackery from years earlier.
And that high funds rate was around 20% in 1981, about the year he took office and remained elevated for years afterward, even after the '81 recession. Lowest Fed rate under Reagan was still a bit higher than the lowest under Carter. The political cover and will was necessary not to just to raise them but to raise them or keep them elevated in the face of a recession.
Stop being so overly emotional about this, the numbers and dates are what they are. We get it, you don't like Reagan and he stinks but that blind hatred eliminates your ability to converse like a sane person.
Blow some bubbles, stomp your feet, count to three.
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