BINGO.
It really bothers me.
Classic btw...good sub-reference.
...
This seems more apropos...
BINGO.
It really bothers me.
Classic btw...good sub-reference.
...
US was doing just fine until the early 80s when Reagan jacked up defense budgets to outspend the Soviets. It was the necessary evil and it worked. Kind of a geopolitical master stroke. Once Soviet Union fell apart and communism shattered all across the globe, the US should have pounced on the opportunity to bring its economic house in order by slashing defense and other wasteful costs.
Bill Clinton rode the internet boom and even left the budget in surplus, but George Bush came with tax cut plans for the rich under the disguise of offsetting temporary recession as a result of 911 attacks. Then he went to war that cost couple of trillions. Obama inherited a shattering financial crisis and had to issue several "jump start" aid and bail out packages to population to avoid Great Recession turning into a Depression.
Let's see what Trump is upto regarding the monster debt which asks for good $300-400 billions in annual interest payments alone.
US was doing just fine until the early 80s when Reagan jacked up defense budgets to outspend the Soviets. It was the necessary evil and it worked. Kind of a geopolitical master stroke. Once Soviet Union fell apart and communism shattered all across the globe, the US should have pounced on the opportunity to bring its economic house in order by slashing defense and other wasteful costs.
Bill Clinton rode the internet boom and even left the budget in surplus, but George Bush came with tax cut plans for the rich under the disguise of offsetting temporary recession as a result of 911 attacks. Then he went to war that cost couple of trillions. Obama inherited a shattering financial crisis and had to issue several "jump start" aid and bail out packages to population to avoid Great Recession turning into a Depression.
Let's see what Trump is upto regarding the monster debt which asks for good $300-400 billions in annual interest payments alone.
I have a really dumb econ question here...
In the three decades following WWII American industry exploded.
As did our standard of living.
If you go to any city in the Midwest you'll see thousands and thousands of Cape-Cod style homes that were built, I assume as starter homes for families. With one "bread-winner". And chances are that one bread-winner was working making something. I grew up in one.
Now I realize a lot of that industry was rebuilding Europe and Japan, hence wealth, but American consumers were buying American products made by Americans.
What has changed in our economy that won't allow that to happen again? Maybe its that we think we need too much stuff. Everyone I know has way more sh*t than they need or use. I know people who can not even pull their cars into their garages because of "junk". Its ridiculous.
When I came up we had the absolute necessities, and the stuff lasted for years and years and years. I still have my father's tools and my mother's flatware and Revere pans. And the Osterizer blender. And we were happy. Education was forefront and foremost.
What has gone wrong?
OK... so cheaper stuff came along. All the sudden a blender made in China costs half as much. But pretend that didn't happen. We were still thriving. And a family could send their kids to college with only the (father) working.
I ask again...What went wrong?!
I think Americans are WAY too wasteful. As a whole (we) spend money we don't have on sh*t we don't need.
Or was it healthcare costs and taxes? Financing the welfare state?
Help me out here. This is beyond me, and perhaps I didn't write it out well enough... but it worked in the 50's, why can't it work now?
Yes.. protectionism is destructionism... The American people are gonna get a hard lesson in economicsWelcome to the new protectionist economy!
Not so sure about that anymore. I see a lot of parallels in agriculture. The old thinking was based on scarcity bad, abundance good. But that was before technology made more abundance than anybody ever planned for. So some of the old capitalist teachings breakdown when buying cheap disposable imports. The old more money more things more happiness only applies when scarcity is normal. America as a whole is now a very luxurious country and we can afford some luxuries that very few developing countries can even imagine. Like a Made in USA iphone.Yes.. protectionism is destructionism... The American people are gonna get a hard lesson in economics
US was doing just fine until the early 80s when Reagan jacked up defense budgets to outspend the Soviets. It was the necessary evil and it worked. Kind of a geopolitical master stroke. Once Soviet Union fell apart and communism shattered all across the globe, the US should have pounced on the opportunity to bring its economic house in order by slashing defense and other wasteful costs.
Bill Clinton rode the internet boom and even left the budget in surplus, but George Bush came with tax cut plans for the rich under the disguise of offsetting temporary recession as a result of 911 attacks. Then he went to war that cost couple of trillions. Obama inherited a shattering financial crisis and had to issue several "jump start" aid and bail out packages to population to avoid Great Recession turning into a Depression.
Let's see what Trump is upto regarding the monster debt which asks for good $300-400 billions in annual interest payments alone.
I am not discussing politics, although would agree that Clinton policies did eventually cause the 2008 crash as a result of toxic debts i.e. housing loans given to weak parties at below prime rates.
For me Trump is not a President, he is Business Manager in Charge of the USA Inc. This is something he likes and has done whole his working life. Trump is in excellent place to help US out buy cleaning up its economic balance sheets. However to do that he will have to focus on right areas and go to the root of the issues rather than just stomp on them to cover up. Being a wealthy man, Trump does not care for money or the second term and that is a very strong plus for him to be able to take bold decisions to set the house right.
Again, Mr. Trump will have to focus in right areas. Apple iphones becoming $200 more expensive will not help his agenda. Might create few thousand more jobs but won't help the balance sheets.