Agreed...I'd also argue that it's basically ungovernable. The so called "middle ground" doesn't really exist...sure it might have briefly in the mid-90's, but that was an entirely different economy.
WORST American Presidents -- David Stockman
- Thread starter Scataphagos
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Agreed...I'd also argue that it's basically ungovernable. The so called "middle ground" doesn't really exist...sure it might have briefly in the mid-90's, but that was an entirely different economy.
John Kasich Compares Federal Debt To A Burning Rome, Says Republicans Share Blame
“They blew a $5 trillion surplus,” Kasich said of Republicans in Washington during the Bush administration. The projected annual surpluses, he said, were “quickly spent, unfortunately by Republicans.”
Two recessions, wars in Iraq and Afghanistan, and Bush-era tax cuts are largely to blame. The annual growth of the federal debt largely declined during Clinton’s years in office, increased during Bush’s term, and has been steadily falling during Obama’s White House years.
“They blew a $5 trillion surplus,” Kasich said of Republicans in Washington during the Bush administration. The projected annual surpluses, he said, were “quickly spent, unfortunately by Republicans.”
Two recessions, wars in Iraq and Afghanistan, and Bush-era tax cuts are largely to blame. The annual growth of the federal debt largely declined during Clinton’s years in office, increased during Bush’s term, and has been steadily falling during Obama’s White House years.
Without the FED, Banks would have never wrought control over the economy. Spiraling Government deficits (and debt) would cease to exist.
Central Banking is the perfect institution for Bankers and Politicians. That's why we can never get rid of it.
Central Banking is the perfect institution for Bankers and Politicians. That's why we can never get rid of it.
Ah, I see the Grand Kleagle is back. How are things down on the plantation? Keeping those darkies under heel?
the left and the establishment want us to think CA and the federal govt are ungovernable as their cronies loot the system.
NY was a mess when giuliani took over.
I left the area... it truly sucked.
Its people were nasty, the business environment was tanking.
city services sucked... it was a rotten apple.
I went back a decade later... and guys in delis were giving free fool to our kids...
people were smiling... the city felt safe...
NY was a mess when giuliani took over.
I left the area... it truly sucked.
Its people were nasty, the business environment was tanking.
city services sucked... it was a rotten apple.
I went back a decade later... and guys in delis were giving free fool to our kids...
people were smiling... the city felt safe...
I just read stockman's article.
normally I am pretty cynical about a review of us economic history.
It was the focus of undergrad major... I have read what bernanke wrote about the great depression and just about everything else I got my hands on.
I always felt no one had ever gotten the reason for the great depression right because no one really explained what caused these imbalances...
Stockman seems to me to be the first person to have gotten it right.
I am impressed.
I also note I remember reading parts of his book in the 80s (I think) in which he predicted that programs were were pursuing would lead to the emasculation of the the males inner cites and lots of unwed mothers and problems.
normally I am pretty cynical about a review of us economic history.
It was the focus of undergrad major... I have read what bernanke wrote about the great depression and just about everything else I got my hands on.
I always felt no one had ever gotten the reason for the great depression right because no one really explained what caused these imbalances...
Stockman seems to me to be the first person to have gotten it right.
I am impressed.
I also note I remember reading parts of his book in the 80s (I think) in which he predicted that programs were were pursuing would lead to the emasculation of the the males inner cites and lots of unwed mothers and problems.
"and not the least of the ills begotten in Wilson’s war is the modern rogue regime of central bank money printing, and the Bernanke-Yellen plague of bubble economics which never stops showering the 1% with the monumental windfalls from central bank enabled speculation.
Consider the building blocks of that lamentable edifice.
First, had the war ended in 1917 by a mutual withdrawal from the utterly stalemated trenches of the Western Front, as it was destined to, there would have been no disastrous summer offensive by the Kerensky government, or subsequent massive mutiny in Petrograd that enabled Lenin’s flukish seizure of power in November. That is, the 20th century would not have been saddled with a Stalinist nightmare or with a Soviet state that poisoned the peace of nations for 75 years, while the nuclear sword of Damocles hung over the planet."
Consider the building blocks of that lamentable edifice.
First, had the war ended in 1917 by a mutual withdrawal from the utterly stalemated trenches of the Western Front, as it was destined to, there would have been no disastrous summer offensive by the Kerensky government, or subsequent massive mutiny in Petrograd that enabled Lenin’s flukish seizure of power in November. That is, the 20th century would not have been saddled with a Stalinist nightmare or with a Soviet state that poisoned the peace of nations for 75 years, while the nuclear sword of Damocles hung over the planet."
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Actually after reading the book on pain/panic of 1907, which was PRE FED/before FED.
God knows we need a bank regulator like FED.WAAAAAAAAAAAY to many banks went bust, money cost SPIKED, plenty of bank customers LOST ALL MONEY; in pain/panic of 1907. Also the Fed has a certain amount of gold;paper money is a somewhat recent form of money................................................................................
We SURE don't need a crooked gov that borrows/spends so much;
President Andrew Jackson[7th] ;
had a US surplus.............................................................................................................................................. Good comments
Murray. Depositor bailins are the new rule going forward. So what's the point of a lender of last resort.