Posted on 01/02/2011 8:06:22 AM PST by Chunga85
How: Gold. Tax cuts. Debts. Wars. Fat Cats. Class gap. No fiscal discipline
ARROYO GRANDE, Calif. (MarketWatch) -- "How my G.O.P. destroyed the U.S. economy." Yes, that is exactly what David Stockman, President Ronald Reagan's director of the Office of Management and Budget, wrote in a recent New York Times op-ed piece, "Four Deformations of the Apocalypse."
Get it? Not "destroying." The GOP has already "destroyed" the U.S. economy, setting up an "American Apocalypse."
Yes, Stockman is equally damning of the Democrats' Keynesian policies. But what this indictment by a party insider -- someone so close to the development of the Reaganomics ideology -- says about America, helps all of us better understand how America's toxic partisan-politics "holy war" is destroying not just the economy and capitalism, but the America dream. And unless this war stops soon, both parties will succeed in their collective death wish.
(Excerpt) Read more at marketwatch.com ...
Sarah Palin is like one of our founding fathers. This sends terror through the hearts of the liberal minority which according to polls is only 20% of the population. Who do liberals think they are speaking for me?
LOL... Got me!
I knew when I clicked on this thread that it would be just another story by the Democrat “mainstream” newsrooms who, yet again, went back to the David Stockman well for source material to use against... Reagan and the Republicans. Good old David Stockman, always available to the scumbag Democrat “mainstream” newsrooms whenever they need a “Republican” to blame for the latest economic woes.
(yawn)
I'm right with you. This is something we must do. There are many wise posters here and it's important we don't fight each other over non-issues. Our adversaries are counting on us doing just that.
Question: What DO we do?
Another liberal wet dream.. Senile old Reagan backstabber runs his mouth like Jimmuh Carter, and they all swoon over the “revelation”
Stockman is a moron.
You’ve hit the nail on the head. Unless we can get our manufacuring base back, this country is finished as a major power. We’ll end up as some sort of puppet of China.
But will someone - anyone - please answer this question for me:
WHY ISN’T ANYONE DOING ANYTHING ABOUT THIS?
Why isn’t any major Republican (Palin included) saying “Here’s my plan to bring manufacturing back.”
Why isn’t any major Democrat (Obama included) saying “Here’s my plan to bring manufacturing back.”
Why is every major politician ignoring this?
LLS
Well said, kiddo.
Better than I said. There isn’t much I wouldn’t give up right now to have Reagan in the Oval, righting this ship.
meh
“300 million, are helpless, will do nothing”???? What do you want them to do? Storm Washington? We have elected officials to handle the policys of this country. November showed them what the people want. If Republicans don’t bring the spending under control, cut spending, stop the wars and bring our troops home........after 10 years of war, the people will get rid of them also. As these politicians are run out of office, Republican and Democrats, people will vote in others that will take a more proactive stand. States should watch their representatives and recall if them, if possible, if they don’t do what the states want. Control your states and you control Washington.
At least 43% of the 300 million cannot be counted on to help the recovery.
Stockman bankrupted his company and was lucky he did not get indicted for securities fraud. Funny that they never mention that when they write about his opinions.
Not conceptually difficult, perhaps, but not particularly realistic, either.
What you're talking about is essentially a pre-industrial economy, defined primarily by local craftspeople whose main customers are also local.
I'm not so sure that economic model is viable in a world where huge corporations dominate the means of supply and production.
Just as an example, demand from McDonald's and other fast-food giants basically controls the US beef industry. Ranchers have a hard time surviving unless they either dance to the McDonald's tune, or can tie into a local co-op arrangement that occupies the margins of the beef market.
What sorts of innovation are you looking at? Clothing manufacture? Tool fabrication? Consumer electronics? Machinery? You generally can't even find American-made versions of this stuff anymore, much less something that's the product of some local craftsman.
It might go back to local craftsmanship once things crash... but we're certainly not there now.
Well. This is just one idea, but I’ll repeat it because it’s a potential solution:
As of 2009, the monetary value of American imports is almost exactly (within tenths of one percent) the same as our combined total national tax ‘revenue’.
This poster’s proposed solution, is to eliminate all taxation in all current forms - “progressive” income taxes, corporate taxes, capital gains taxes - and replace the entire tax structure with a single across the board 100% import tariff on EVERYTHING imported to America.
Not even one, single, exception. Not one.
This would keep government out of the role of picking and choosing winners and losers.
And it would in one single move, reverse the destruction of American jobs.
Immediately.
One of the biggest mistakes Reagan ever made was in NOT FIRING THIS blathering, bird-brained pipsqueak the moment he opposed Reagan’s economic policies.
IF YOUR BUDGET DIRECTOR CANNOT FOLLOW ORDERS, OFF WITH HIS HEAD. Reagan was much too tolerant in this intance.
No, it wouldn't. As grand as such a tax plan would be, the destruction of American jobs has gone hand in hand with the loss of the infrastructure within which those jobs existed. The factories are no longer there. There's no "immediately" for trying to rebuild what was lost, especially as the multinational corporations have invested huge sums in building that capacity overseas.
There's no easy fix.
Briefly said, Ronald Reagan was one of our best presidents and no one in the past fifty years could hold a candle to him, Republican or Democrat (although JFK was about on a par in his public style and speaking ability). David Stockman, by comparison, is a publicity-hogging jerk.
Stockman reduces his credibility when he blames it on Reagan. He apparently is not cognizant of the fact that Obama has wriiten twice as much debt in just two years than Reagan did in eight. And Obama is in charge now so why blame Reagan, who’s been dead for years?
I’ll give you the answer: Stockman is still bitter because Reagan “took him to the woodshed” 30 years ago.
This article is so one sided if it were a ship it would sink yet he claims it is bi-partisan.
What he leaves out is very telling for instance let’s talk about being in the pocket of Wall Street.
Barack’s Wall Street Problem is Now America’s
http://www.noquarterusa.net/blog/2008/09/21/baracks-wall-street-problem-is-now-americas/
JPMorgan CEO Jamie Dimon Donates Serious Cash to Democrats
http://www.opensecrets.org/news/2009/07/jpmorgan-ceo-jamie-dimon-donat.html
Contributions to Obama Campaign Track Bailout Money
http://pajamasmedia.com/blog/contributions-to-obama-campaign-track-bailout-money/
They all donated heavily to his Inauguration too...
Obama’s $170 Million Inauguration Has Been Financed Partially by Bailed-Out Wall St. Banks
http://www.huffingtonpost.com/2009/01/14/bailed-out-banks-donating_n_157960.html
BTW it was the Democrats who brought back Usury in the 1980’s!
Now let’s talk about Bernanke Zero kept him and hired tax cheat Geithner what does that tell you? Banana’s Ben continues to print and devalue our currency and he is monetizing our debt by doing so he allows the spending to continue.
The new regulations lol Dirty Dodd set them up and I mean set them up he lined his pockets just like obama did and they both got home loans from that crook Angelo Mozillio...
Out of Lehman’s Ashes Wall Street Gets Most of What It Wants
The great bank heist of 2010
Commentary: Wall Street wins, Main Street pays — again
“But it’s unfair to give the bankers all the credit for subverting democracy.
They couldn’t have done it without the Democrats.
Wall Street has spent years capturing the party establishment.
Think of the lavish campaign checks. The lucrative hedge fund “adviser” jobs. The pervasive influence of pinstriped “progressives” like Larry Summers and Bob Rubin.
This was the year the investment paid off. Big time.
Top Democrats were too terrified of alienating their sugar daddies to pass real reform.”
in full http://www.marketwatch.com/story/wall-street-wins-main-street-pays-again-2010-12-21?pagenumber=2
And then there’s Fannie/Freddie $6.3 Trillion left out of the budget but those GSE’s were run into the ground by democrats. Yet...
More big paydays at Fannie, Freddie
http://finance.fortune.cnn.com/2010/12/31/more-big-paydays-at-fannie-freddie/
He may have some points on the spending but he should lay the blame for being in the Banks pockets where it belongs.
That would be a good start IMHO. Trouble is - is there a single "public servant" willing to put forth the notion? Lip service doesn't count.
Unless we are willing to lock workers in a factory and pay them a bucket of beans a month we can't compete.
Countries that allow that should be prepared to sell their wares to themselves.
I’d say criminal enterprise.
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