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Topic: Reganomics Revisited

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Muleskinner
.416 Rigby

AKA The Crotchety ol’ Geezer

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Posted: 20 September 2008 at 22:39 \| IP Logged

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Mule (The Voice of Reason)

Wing master
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Posted: 20 September 2008 at 23:36 \| IP Logged

My knowledge of the economy is pretty close to zero, but I think I can see one big problem.

Look around your house. If you are like me, most of the things I own came from China or some other country that I have never heard of.

One example is Levi Strause. I don't wear Levi's because of their anti gun agenda, but, Several years ago I lived in Odessa Texas. Levi had a plant there. They shut down all of their American plants and started importing their goods. That left alot of Americans out of work and they are not the only American company that has done this.

I guess what I am saying is, our money is going overseas and now we are seeing our economy suffer.

I personaly would rather pay a little more for an American made product (The quality would be better) than support China or some other country's economy.

Just my opinion.

Wing master

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Muleskinner
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Posted: 21 September 2008 at 06:08 \| IP Logged

Remember tariffs? We used to provide a penalty for cheap goods produced overseas to protect our own manufacturers. Now we have "free trade." You are right of course, the loss of our currency being backed by anything but perception, no bricks and mortar of an economic infrastructure (industry), has created a house of cards built on a foundation of debt that only requires one piece to collapse to really hurt what we have. However, the whole idea of deregulation got things going many years ago. What we needed was sensible regulation, not throwing the baby out with the bathwater. Under current administration, annual SEC fines have plummeted. Wall Street and banks basically had a blank check to create new risky products. Corporations were free to use pension funds in their investment schemes. Energy companies have created shortages to affect the price system. Banks and even the VA gave up on the idea that a borrower should actually be able to afford the house they're buying. Now, wall street is crying for a government bail out to avoid collapse. Now, my question is, were the deficits, fueled by unbalanced budgets, unjustified tax cuts, and rubber government checks for everything government does, which were supposed to be financed by economic growth and not land in the taxpayer's lap, really even remotely justified? Some very smart people were saying that the red ink has been too steep and the piper would one day have to be paid by the taxpayer. Now, that's happening. Greenspan warned Congress, O'Neil warned Bush, the whole economic world warned Regan that supply side was just a loan scheme. Deregulation was taken too far to support this "we can have it all, who cares what it costs" mentality. I've been saying it for decades, since the days when McCain was hollering for a balanced budget amendment and other fiscal reforms and nobody would listen. We were in love with the idea that we could have it all right now, and Regan was the beloved pitch man. Man, I hate being right all the time.

Edited by Muleskinner on 21 September 2008 at 06:15

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Mule (The Voice of Reason)

Dennis Keith
.375 Holland & Holland Magnum

Joined: 09 September 2006
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Posted: 21 September 2008 at 17:40 \| IP Logged

Passage of the fair tax would do more to help the average joe lunchbucket than anything else that could be done to reign in the OBSCENE spending of the Congress.

If you don't know what I'm talking about, shut up and go read the Books that have been written on the subject.

Wing master
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Posted: 21 September 2008 at 22:59 \| IP Logged

Mule,

One of the things I see wrong with "free Trade" is What are we Trading for their goods. Ask North Logan what has happend to the American dollar verses the Canadian dollar.

Where are we headed? I would assume that if an uneducated hillbilly from Wyoming like myself can see whats happening. Why cant an educated person in Washington that works with this stuff all the time figure out how to solve some of these problems.

Wing master

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Rob1
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** The Walnut Whisperer **

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Posted: 22 September 2008 at 07:17 \| IP Logged

"The nine most terrifying words in the English language are: 'I'm from the government and I'm here to help.'" -Ronald Reagan

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RobertMT
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Posted: 24 September 2008 at 00:00 \| IP Logged

The more the government tries to fix things, the worse they'll get, it's been like that from day one and it ain't going to change.

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