Farfromgeneva wrote: ↑Thu Oct 20, 2022 12:12 am
a fan wrote: ↑Wed Oct 19, 2022 10:46 pm
Farfromgeneva wrote: ↑Wed Oct 19, 2022 10:16 pm
a fan wrote: ↑Wed Oct 19, 2022 8:21 pm
jhu72 wrote: ↑Wed Oct 19, 2022 7:21 pm
a fan wrote: ↑Wed Oct 19, 2022 3:23 pm
HooDat wrote: ↑Tue Oct 18, 2022 10:28 am
I am not with you on this take.Yes, there was Bedtime for Bonzo references, etc... from the beginning, but the media never really came around to liking Reagan - think Iran Contra. And Reagan doesn't deserve any credit for this, but the Iranians release the hostages the day of inauguration was a big day one pop for Reagan's "success story". Of course cutting taxes and raising spending helped him become even more popular - not arguing there.
I'm saying: get rid of cutting taxes, and increasing spending massively----not just a little, a LOT.....is what gave that 1980's "good feeling" you're mentioning
Take those tools away, and keep the Federal spending where it was under Carter?
You get (drumroll): more Carter. More malaise.
Joe Biden is plenty optimistic if you listen to him.....but in the face of inflation? He sounds nuts/out of touch, yes?
... I don't know about that, his announcement of willingness to guarantee producers $70/barrel (as opposed to waiting until the price is much lower and paying that price) when he refills the Strategic Reserve in exchange for them turning on the spigot now, sounded pretty sane to me. Win - win. People are starting to recognize we are being gouged by big oil, to the tune of $1 per gallon at the pump.
You can't be serious.
You and I understand this....yes. Does the American public?
Same goes for Carter. Was it his fault that the Fed set interest rates at nosebleed heights? Nope. Yet....he was blamed for it.
He was also blamed for a lack of borrowing....just as Old Salt what he thought about the military not having everything they wanted. He blames it all on Carter, rather than on commanders who are unable to figure out how to get by with less because the nature of the military means everyone protects their own "rice bowl", instead of looking out for the fitness of our entire military.
Most of Volckers rate efforts were under Reagan in the 80s. He took over in 1979…
Yes. But in 1978 the rate went from 7.8 percent in April, to 10% by the end of the year.
Carter was HAMMERED by rates. It was 4.7% when Carter arrived. 14% rate by the time the election arrived in 1980.
Well the President does select the federal reserve chair…but I think we had inflation issues before he arrived as well.
Point was it was more severe under Regan.
Fair point for his first few years. Which is why I said to HooDat that folks didn't like Reagan those first years......and felt good about him after rates went down, and Federal borrowing exploded.
Which is dumb, naturally. Same reason TrumpFans liked Trump......let Biden increase Federal Spending by 66% like Trump, and watch our economy boom during the ensuing financial party.
....until the bill comes due, naturally.
Which is why we get to see Congressional R's find "fake financial Jeezus" for the 1,203 time this fall, as they complain about spending because they don't want Biden to continue the party, gaining votes.
Two years, and Biden won't pass a single bill. Good luck, TrumpNation!!