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Notice where Reagan took office................And where Clinton took office. Praise Jesus Reagan for Trickle-Down f*ckonomics.
To be fair, that graph also closely follows the decline of skilled manufacturing jobs, during the mass exodus to developing nations.
This entire thing is far too complicated to pin on any one president's economics policy.
The nature of free-market capitalism alone is to build great wealth, crash because of absence of fair regulations, shelve the currency, grow new economy with cheap money...........rinse, repeat. (or something like that. I've started my Friday night cocktails)
Lets all pray that those 60% of Americans know that republicans have created America's dangerous debt, by giving rich people tax cuts, and spending $1 trillion dollars to attack Iraq (when Iraq had nothing to do with Sept 11.)
Lets pray those 60% of Americans know that Obama deficits, are 100% caused by Bush's tax cuts and senseless Iraq war.
Lets all pray that those 60% of Americans know that republicans have created America's dangerous debt, by giving rich people tax cuts, and spending $1 trillion dollars to attack Iraq (when Iraq had nothing to do with Sept 11.)
Lets pray those 60% of Americans know that Obama deficits, are 100% caused by Bush's tax cuts and senseless Iraq war.
Thanks for the great news.
Lol. Whatever, dude.
They contributed, but the problem was bubble-markets. I think you're forgetting, we are 17 trillion in the red, there is a bit more responsible than evil Bush.
Thanks for the link and I will definitely read it and get back to ya.
As far as where my underlying concerns are really reinforced about our monetary policy, is we literally have our largest creditor, China, flat out urging us to control spending and exercise a bit more diligent fiscal responsibility or they will have no other option but to increase their risk assessment of our treasury.
They know they have a very large vested interest into the survival of the dollar, as they will receive dividends for decades on what they've already lent.
If our creditors have cause for concern about the viability of the dollar, we should, too. I know there are other factors involved, but there is no denying that our investors are worried, and an economy which relies on an ever-growing base of investment to fund an inflated budget, that is a big, red flag.
If you really stop and think about it, the only way to pay off the kind of debt we've amassed, is to flood the market and inflate the currency. Our creditors will be pissed, but I don't see any other angle.
We definitely need to cut our debt but it isn't the most pressing issue at the moment. We need to ensure that we've grown out of the recession before addressing that. If we choke off the revenue too soon we will contract and it'll be ugly...I'm talking Greece-ugly. The San Francisco Federal Reserve just released a new study indicating that every dollar of federal money spent on tech, medical, and infrastructure investment will pay back 2 dollars over 10 years...we are investing in ourselves and our futures which will pay dividends...but not if we don't continue working on it. Austerity just isn't the answer NOW.
As far as China goes, they'll will be just fine and their assesment of our treasury won't do a lot to impact how we operate.
Now...once we get the ecnomy moving well we need to look at austerity measures. Even people like Krugman have said this would be best and he usually NEVER advocates the government NOT spending money.....Per Krugman "Spend while we are down to recover, and kill deficits when we are up because when we are up the economy is more resilient...it can handle being choked off a bit."
I luv how you people spin data...the reality is if you took into account how many dropped out the work force...I bet
the unemployment rate would easily be 15% or higher...
You just keep trying to convince yourself that socialism works...
You bet? Okay...
Parroting Fox is not an argument. As they do, you throw out statements as fact with nothing behind them, thus making the reader do the homework - and it ain't all that difficult. A tactic of throwing out buzzwords is about all rightie media needs to keep apostles in the fold. Such as:
"Socialism" for anything government does for the lower classes.
"Entitlements" for social programs aimed at the lower classes.
"Welfare" The same.
All with the exception of money funnelled to the wealthy. See a common thread here?
Okay the list could get long, I'm just exposing the main right-wing media tactic.
And, yeah, the real unemployment numbers are probably higher than expressed - by all administrations. This is pretty well-accepted.
BTW I don't believe you know what socialism is - you just threw that republican chestnut out there. Did "socialism" cause the crash of 2008? Unsupervised (unregulated) capitalist bankers did it, and now your Wall Street heroes are laughing at us.
They contributed, but the problem was bubble-markets. I think you're forgetting, we are 17 trillion in the red, there is a bit more responsible than evil Bush.
Can you explain how these "bubble markets", turned Clinton's surpluses in deficits?
Can you list a source that explains this?
What % of our deficits from GW Bush till now, were caused by republican tax cuts and war?
Scientists call the US republican party a "corporate propaganda group." This propaganda group tells you 100's of lies. Only problem is you don't care.
That's great and all, but I don't think the federal government has the capacity to increase the money supply for such ventures, anymore. At least not without speeding up the inevitable decline of the dollar.
...
Oh please.
Here is how much the money supply has increased:
This is the dollar. Notice its steep decline? Me neither.
I thought I'd post that since you tried to skew data by limiting dates and comparing data that's not equal in figures.
i don't know what "comparing data that's not equal in figures" means. The data is from the Federal Reserve of St. Louis. The numbers are what they are. As for limiting dates, the data goes back decades and isn't relevant going back to 1950 and I bring it to the present. If you think that a different date range makes a different case, I not stopping you from doing the work.
That narrative makes no sense. The Fed doesn't buy stocks and the banks that receive liquidity aren't allowed to buy stocks. So, how does the Fed increasing the monetary base put money in the stock market?
What actual occurred is that corporate profits are generally good and the economic outlook is encouraging.
The Fed increasing total reserves allows for the money supply as an asset of banks to increase proportionally. That, in turn, lowers the effective interest rate on lending, which in turn, lowers the federal funds rate to keep finance premiums the same. Lowered lending rates makes it cheaper for you and me to borrow so that (in theory at least) it will lead to increased spending by the consumer today. That increase in spending and consumption creates confidence in the economy and the future of economic growth. Faith that the future will be better will then in turn move you and I to expect future interest rates to increase, causing us to hold on spending now, causing interest rates to increase again as companies need more capital to invest in technology and labor in order to maintain margins in a positive economy. As this happens, consumers start to invest again in markets, leading to market increases due to the Fed increasing the monetary base.
That being said, the dramatic increase in national debt as well as the promise that future taxes will come about due to ObamaCare screws up the normal economic reaction to a monetary base increase, so chances are that thanks to the political actions of the current administration surrounding entitlement programs and debt increases, the process described above will struggle greatly to take off, at least until definitive plans to actually account for how to pay down debt increases and how to pay for Obamacare are solidified.
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