Cash for clunkers NOT suspended......

[fkbsuhites]

The only thing the third rate actor Reagan discovered was the power of the USD acting as the global reserve currency.

He discovered he could borrow as much as he wanted without causing inflation at home.

He started the Borrow and Spend Republican mantra.

The rest is history.


The Myths of Reaganomics

http://mises.org/story/1544



Let's see. You think a third rate actor was the greatest president. A monkey was the second greatest president. And now a third rate model turned third rate governor, Palin, is your best candidate for president.


You people are the biggest fade around. The only way I know Obama is doing the right thing is because you idiots are screaming bloody murder.

Republicans are incompetent.

Need I say more?


have a good weekend, Skippy.

Quote from countryBoy:

With all due respect, jprad, I think Reagan tried to dismantle some large government activities. Specifically, he told his budget guy (David Stockman) to kill the DOE, then find some really "large boulders" to crush. He was talking about Medicare, Medicaid.

Of course the DOE was started by Jimmy Carter, to wean the U.S. off foreign oil. In the early 1980's it had no results to show. No change today.

Reagan's massive cost cutting initiative was laughed off the stage by the prevailing democratic majorities in Congress (You hear that Skippy?).

The rest is history.

 

[jprad]

Quote from countryBoy:

With all due respect, jprad, I think Reagan tried to dismantle some large government activities.

You need to read up on the massive military expenditures under Reagan.

Any cost-cutting elsewhere in government pales in comparison to how much he grew defense spending, absolutely pales.

 

[jprad]

Quote from fkbsuhites:

The only way I know Obama is doing the right thing is because you idiots are screaming bloody murder.

Republicans are incompetent.

Need I say more?

You're ready to anoint this guy sainthood and recommend his mug for a federal reserve note...

...and he's only been in office 6 months.

You sound like a Patriot fan buying books about their undefeated season before the kickoff of SBXLII.

 

[countryBoy]

Quote from jprad:

You need to read up on the massive military expenditures under Reagan.

Any cost-cutting elsewhere in government pales in comparison to how much he grew defense spending, absolutely pales.

Yes, your second point is somewhat correct, but as I said, Reagan tried to cut domestic spending. But he made little or no progress with Congress. As mentioned, ballooning domestic spending is the responsibility of Congress, even this Congress. When it comes to money, any congress can and should tell the President to go to hell.


Yes, your first point is also correct. Thanks. But maybe you were not there to get the perspective. The U.S. was definitely in an armegedon showdown with the USSR. The liberals talked not of "IF" but "WHEN" . A popular movie was made in the early '80's, kind of a "Nuclear Blasts for Dummies". Not a small movie either - Jason Robards.

Some people will still deny that Reagan stopped the madness. I don't really care. I don't want to argue it. And I don't care what it cost. It's over now, and what he spent is OK with me.

 

[jprad]

Quote from countryBoy:

Yes, your second point is somewhat correct, but as I said, Reagan tried to cut domestic spending.

Cutting a program here or there is just PR, it's the total amount of spending that matters.

Reagan took federal spending to an entirely new level.

Yes, your first point is also correct. Thanks. But maybe you were not there to get the perspective. The U.S. was definitely in an armegedon showdown with the USSR.

Six years active service in the Navy, '76 - '82.

I lived it.

And, no, the Russians couldn't wipe our ass even before Reagan took office.

IMHO, Reagan did more harm then good by bankrupting and collapsing the Soviet Union.

And, I'm not just talking about the unchecked migration of weapons-grade fissionable material or weaponized biologics either.

Had the Soviet Union and it's military existed today I highly doubt that either Bush would have been able to pull of the crap that they did in the Middle East.

A world with two super powers pre-occupied with each other is a hell of a lot safer than having only one who can do whatever the hell it pleases.

 

[countryBoy]

Quote from jprad:

IMHO, Reagan did more harm then good by bankrupting and collapsing the Soviet Union.

Are you saying the the policy of Mutual Assured Destruction was not real. That it was only a bluff??

 

[jprad]

Quote from countryBoy:

Are you saying the the policy of Mutual Assured Destruction was not real. That it was only a bluff??

MAD was certainly real, it was the cornerstone of the cold war.

But, neither side never wanted to go to war, no matter how much they distrusted each other.

As the saying goes, the devil you know is better than the devil you don't...

IMHO, we're much worse off, and well on our way to our own bankruptcy now.

 

[countryBoy]

Quote from jprad:

MAD was certainly real, it was the cornerstone of the cold war.

But, neither side never wanted to go to war, no matter how much they distrusted each other.

As the saying goes, the devil you know is better than the devil you don't...

IMHO, we're much worse off, and well on our way to our own bankruptcy now.

Well, the markets don't seem to agree with that. During most of the MAD era, stocks did nothing. Adjusted for inflation, big loosers.

Since 1984/1985, market was up ... well over 1000% to the year 2000. Still up 800% ((from '84 to now), after the recent banking implosions.

Yes, yes bankruptcy may be in the cards. In the U.S. (me) it really a decision that has not yet been made. The folks in Washington may be powerful, but they still have to be elected.

If there was not internet, and gov ran all news, just the the networks and MSNBC, we would all be screwed. But that is not the case. There is a small hope.

But if the people want a depression, they will certainly get one.

 

[jprad]

Quote from countryBoy:

Well, the markets don't seem to agree with that. During most of the MAD era, stocks did nothing. Adjusted for inflation, big loosers.

You really need to read up on the theory as well as the practice of MAD. It's been around in both forms for a very long time.

It also wasn't solely responsible for any bull or bear market during the Cold War. The U.S. economy is a tad more diverse than the Military Industrial Complex.

 

[countryBoy]

Quote from jprad:

You really need to read up on the theory as well as the practice of MAD. It's been around in both forms for a very long time.

It also wasn't solely responsible for any bull or bear market during the Cold War. The U.S. economy is a tad more diverse than the Military Industrial Complex.

jprad, I really do enjoy a lot of your posts. But maybe you are getting a little loopy, so late at night.

Are you saying that the thought of a full Nuclear Exchange had no impact on large investors? Like McDonalds Restaurants would say, "Hey, screw the nukes, let expand into Eastern Europe"

I really have to differ here. Business doesn't like geopolitical tensions at all.