Economic data plunged today
- Thread starter The_hero
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Is it Donald Trump that's the real problem or his cult followers? Somebody please tell me he's not the Antichrist because he fits the description very well.
The cult followers are a problem, but would there be any had there not been a Trump. I can't escape the belief that puppet master Steve Bannon pulled the strings. Would Trump have won the 2016 election without both Bannon's behind-the-scenes manipulation and Paul Manafort's Russian Connection. I am not even sure Trump would have run without Bannon's pushing.
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I agree (mostly). But I'd like to see specific examples of relaxing of regulatory constraints that resulted in significant supply increases.* There is another seldom mentioned aspect to this tax-cuts-for-the-rich business. (You scratch my back. I'll scratch yours) When politicians depend on private money to get elected, extreme wealth distribution becomes harmful to democratic government . The billionaires, not the people, end up firmly in control of government. We need look no further than this to understand why some legislation supported by 67% of registered voters has no chance to get past the U.S. Senate.
There are many examples of policies supported by the majority of voters that don't see the light of day because those few who dominate election financing via political action committees are opposed. PACs, which now dominate some political campaign funding, were made legal via the Court's Citizens United Ruling. Big donors were behind the effort to get "Citizens" through the Court under Karl Rove's leadership. https://www.citizen.org/news/story-...ds-wisconsin-governors-industry-ties-exposed/
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*I just thought of a wonderful example of where government stepped into a market and created vast new competition and far lower consumer prices, but it was due to enforcement of antitrust laws, not deregulation per se. There can be no question that there is too much regulation, which is counter productive in quite a few instances one could easily mention --- particular examples would be many where regulation is used to capture markets and thus harm competition which is vital to successful capitalism.
Too much or too little regulation can lead to capitalism's failure. It turns out that capitalists are capitalism's worst enemy. I have been meaning to post in the Economics forum on this topic, which centers on Economic Rents, but haven't. Maybe your post has sparked a renewed interest in me.
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2007-2008 Bankster Bubble created the environment for Trumpy. That plus Shillary's arrogance and Russian help certainly didn't hurt either all came together for him. Country somewhat came to its senses after his 4 years of chaos.
Well, we live in the age of hyper-fanaticism. Without the help of these fanatics, I highly doubt Trump would be anywhere near where he is now.
You are too negative about Trump. He is not as bad as the far left portrays and not as good as the MAGA group wishes. The far lefts and the far rights are driving the parties which is not good for America.
Anyway, let's hope democracy will prevail, so we, and our children will continue to live free, because history has not been kind to democratic experiments of the past.
More disturbing than the Citizen’s United ruling is how long it has remained to stand.
The airline deregulation act in 1978:
Q: how did the Bush Jr administration make it easier to produce oil and gas domestically?
ChatGPT:
The Bush Jr. administration implemented several policies and initiatives to make it easier to produce oil and gas domestically. These actions were primarily focused on increasing access to federal lands, streamlining regulatory processes, and providing financial incentives. Here are some key measures:
- Energy Policy Act of 2005: This comprehensive legislation aimed to address various energy production and conservation issues. Key provisions that facilitated domestic oil and gas production included:
- Royalty Relief: Provided incentives for oil and gas production by reducing the royalties that companies had to pay for drilling on federal lands and waters.
- Streamlined Permitting: Simplified the permitting process for oil and gas exploration and production, reducing the time and complexity involved.
- Hydraulic Fracturing: The Act exempted hydraulic fracturing (fracking) from the Safe Drinking Water Act, which made it easier for companies to use this technique without undergoing stringent federal water regulations.
- Increased Access to Federal Lands: The administration opened up more federal lands for oil and gas exploration and production, including parts of the Arctic National Wildlife Refuge (ANWR) and the Outer Continental Shelf (OCS). This was done through:
- Lease Sales: Accelerating the schedule of lease sales for federal lands and waters, providing more opportunities for companies to bid on and secure drilling rights.
- Eased Restrictions: Reducing restrictions and regulatory hurdles for exploration and production on public lands.
- Regulatory Reforms: The administration aimed to reduce regulatory burdens on the oil and gas industry. This included:
- NEPA Reforms: Modifying the National Environmental Policy Act (NEPA) requirements to expedite environmental reviews for energy projects.
- Resource Management Plans: Updating resource management plans to prioritize energy development in certain areas.
- Tax Incentives: The administration provided tax incentives to encourage domestic oil and gas production, such as:
- Enhanced Oil Recovery Credits: Tax credits for techniques that enhance oil recovery from existing wells.
- Expensing of Intangible Drilling Costs: Allowing companies to deduct certain drilling expenses from their taxable income, reducing the overall cost of production.
US natural gas production boom since 2005: