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BUSH and the "other shoe"! LMAO
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<blockquote data-quote="wkmac" data-source="post: 448386" data-attributes="member: 2189"><p>Like Lincoln and TR, republicans love to wrap mythology around their icons and democrats do so equally well so it's a bit more human nature than a specific party trait. It's a disease in which we all suffer to be honest. </p><p> </p><p>As a huge supporter of Reagan in 1980' and someone who worked in his campaign locally, the Reagan running for election sounded more similar to a Ron Paul but once elected turned into a more total opposite in truth. The wind that toppled that straw house for me was the Tax Equity and Fiscal Responsibility Act of 1982 otherwise known as TEFRA. </p><p><a href="http://en.wikipedia.org/wiki/Tax_Equity_and_Fiscal_Responsibility_Act_of_1982" target="_blank"><span style="color: red"><strong>http://en.wikipedia.org/wiki/Tax_Equity_and_Fiscal_Responsibility_Act_of_1982</strong></span></a></p><p>It went full scale when in 1986' we got a new Tax Code replacing the 1954' model instead of scrapping the income tax entirely as Reagan so often preached before he got elected. Watch closely Obamites as you learn your own hard lessons in the months and years ahead.</p><p> </p><p><span style="color: black">To make matters worse, Reagan didn't begin the process of using debt borrowing but his adminstration began an acceleration of federal debt in which the gov't began using debt borrowing to expand gov't rather than just using taxation alone. Gov't expansion becomes complicated when the people are given a tax bill to fund it so other means were needed and thanks to Nixon they got one! </span><span style="color: black">Reagan and all adminstrations afterward used the hidden tax of inflation <a href="http://www.lewrockwell.com/paul/paul334.html" target="_blank"><span style="color: red"><strong>http://www.lewrockwell.com/paul/paul334.html</strong></span></a> as the money supply increased to re-balance the debt to GDP ratio. This is also where the popular Keynesian ideal of comparing debt to GDP as a means to justify the debt levels began it's most common form of life. </span></p><p> </p><p><span style="color: black">No one ever questions the debt increase to the money supply which causes the value of goods and services measured in GDP to go up as well so sure the ratio will always look manageable after a time. Our debt looks bad now but when things do start to turn, massive inflation will kick in, the value of our dollar will much further decline but hey the debt to GDP ratio will look good again. You UPS managers who scream we hourlies make to much get ready because not only will we be hitting the trough come contract time but the double whammy is so will you all because of federal debt borrowing and inflation, the hidden tax.</span> </p><p> </p><p>There were many bad things about Jimmy Carter and those who knew him as Georgia Governor also knew the Presidency was not a place for him. That said however, Jimmy took the White House from a republican adminstration that in it's own day was as equally socialist as the current outgoing republican adminstration. Nixon not only closed the gold window for good and killed Bretton Woods in the process, a move done which in turned opened the door to literally unlimited gov't borrowing for that point forward. We can thank a republican for our debt mess. But Nixon also imposed a wage and price freeze that ran for about 3 years <a href="http://www.econreview.com/events/wageprice1971b.htm" target="_blank"><span style="color: red"><strong>http://www.econreview.com/events/wageprice1971b.htm</strong></span></a> and as we've seen with housing and borrowing of recent, when you falsely intervene in the market, you create bubbles that take years later to begin to show up as busts and reek havoc on economies. Carter made many of his own mistakes and proposed idiotic economic ideas to compound a already bad situation but truth is much of Carter's ills were in fact created by Nixon and a republican party. Reagan's one right move coming in was to reverse Carter's with oil and de-regulate (not true de-regulation in the laissez fiare sense) the oil and gas industry. If anything that was behind the supposed economic boom of the Reagan years, this was a key element to it. </p><p> </p><p>Watching Bush's market interventions reminds me so much of Nixon and I have to wonder watching Obama, will he be a replay of Jimmy Carter? Carter made the mistake of chasing Nixon's nightmare with more interventions making matters worse and from the looks of things now, I just see another repeat of history just 40 years later. What we youth in my day protested and screamed against in the actions of our fathers, we turn around and do the very same thing ourselves. Brings to mind the old proverb about the sins of the father visiting the following generations! </p><p> </p><p>I've no illusion that Obama will somehow by magic make life in America wonderful and great again. My belief is just the opposite but not because he's a democrat but like Carter after Nixon, Obama will chase Bush's nightmare by trying to impose his own interventions making the problem worse or worse still, temporarily mask the problem with a false boom only to have it reappear worse later. In many respects Reagan and Clinton in the history of things will be seen more as a false boom as the hand of gov't was able to mask the problem for a time and now we see the effects to a degree much worse from all the intervention. Bush is so bad even the liberal/progressives (the supposed socialist/commies among us)who champion Obama are condemning socialism and to our "shock and awe" waxing for the days of Adam Smith and the true laissez fiare ideals!</p><p><a href="http://www.truthdig.com/report/item/20081209_republicans_bring_socialism_to_america/" target="_blank"><span style="color: red"><strong>http://www.truthdig.com/report/item/20081209_republicans_bring_socialism_to_america/</strong></span></a></p><p>Repubicans abandoned the ideals of Adam Smith long, long ago. </p><p> </p><p>The myth is that only democrats are socialist but the facts speak much louder that in truth republicans are as well. Folks like Bill Kristol and Max Boot only point out the obvious of this fact and even go so far as Max basically put it, there's no difference between liberals and conservatives anymore. They are the same thing and the proof and admission from the so-called otherside is Obama's appointments that spell literally no change at all. The beltway crowd knows the truth and now admit it but the rest of us suckers are left holding the illusion. Time to bust that mythology once and for all.</p></blockquote><p></p>
[QUOTE="wkmac, post: 448386, member: 2189"] Like Lincoln and TR, republicans love to wrap mythology around their icons and democrats do so equally well so it's a bit more human nature than a specific party trait. It's a disease in which we all suffer to be honest. As a huge supporter of Reagan in 1980' and someone who worked in his campaign locally, the Reagan running for election sounded more similar to a Ron Paul but once elected turned into a more total opposite in truth. The wind that toppled that straw house for me was the Tax Equity and Fiscal Responsibility Act of 1982 otherwise known as TEFRA. [URL="http://en.wikipedia.org/wiki/Tax_Equity_and_Fiscal_Responsibility_Act_of_1982"][COLOR=red][B]http://en.wikipedia.org/wiki/Tax_Equity_and_Fiscal_Responsibility_Act_of_1982[/B][/COLOR][/URL] It went full scale when in 1986' we got a new Tax Code replacing the 1954' model instead of scrapping the income tax entirely as Reagan so often preached before he got elected. Watch closely Obamites as you learn your own hard lessons in the months and years ahead. [COLOR=black]To make matters worse, Reagan didn't begin the process of using debt borrowing but his adminstration began an acceleration of federal debt in which the gov't began using debt borrowing to expand gov't rather than just using taxation alone. Gov't expansion becomes complicated when the people are given a tax bill to fund it so other means were needed and thanks to Nixon they got one! [/COLOR][COLOR=black]Reagan and all adminstrations afterward used the hidden tax of inflation [URL="http://www.lewrockwell.com/paul/paul334.html"][COLOR=red][B]http://www.lewrockwell.com/paul/paul334.html[/B][/COLOR][/URL] as the money supply increased to re-balance the debt to GDP ratio. This is also where the popular Keynesian ideal of comparing debt to GDP as a means to justify the debt levels began it's most common form of life. [/COLOR] [COLOR=black]No one ever questions the debt increase to the money supply which causes the value of goods and services measured in GDP to go up as well so sure the ratio will always look manageable after a time. Our debt looks bad now but when things do start to turn, massive inflation will kick in, the value of our dollar will much further decline but hey the debt to GDP ratio will look good again. You UPS managers who scream we hourlies make to much get ready because not only will we be hitting the trough come contract time but the double whammy is so will you all because of federal debt borrowing and inflation, the hidden tax.[/COLOR] There were many bad things about Jimmy Carter and those who knew him as Georgia Governor also knew the Presidency was not a place for him. That said however, Jimmy took the White House from a republican adminstration that in it's own day was as equally socialist as the current outgoing republican adminstration. Nixon not only closed the gold window for good and killed Bretton Woods in the process, a move done which in turned opened the door to literally unlimited gov't borrowing for that point forward. We can thank a republican for our debt mess. But Nixon also imposed a wage and price freeze that ran for about 3 years [URL="http://www.econreview.com/events/wageprice1971b.htm"][COLOR=red][B]http://www.econreview.com/events/wageprice1971b.htm[/B][/COLOR][/URL] and as we've seen with housing and borrowing of recent, when you falsely intervene in the market, you create bubbles that take years later to begin to show up as busts and reek havoc on economies. Carter made many of his own mistakes and proposed idiotic economic ideas to compound a already bad situation but truth is much of Carter's ills were in fact created by Nixon and a republican party. Reagan's one right move coming in was to reverse Carter's with oil and de-regulate (not true de-regulation in the laissez fiare sense) the oil and gas industry. If anything that was behind the supposed economic boom of the Reagan years, this was a key element to it. Watching Bush's market interventions reminds me so much of Nixon and I have to wonder watching Obama, will he be a replay of Jimmy Carter? Carter made the mistake of chasing Nixon's nightmare with more interventions making matters worse and from the looks of things now, I just see another repeat of history just 40 years later. What we youth in my day protested and screamed against in the actions of our fathers, we turn around and do the very same thing ourselves. Brings to mind the old proverb about the sins of the father visiting the following generations! I've no illusion that Obama will somehow by magic make life in America wonderful and great again. My belief is just the opposite but not because he's a democrat but like Carter after Nixon, Obama will chase Bush's nightmare by trying to impose his own interventions making the problem worse or worse still, temporarily mask the problem with a false boom only to have it reappear worse later. In many respects Reagan and Clinton in the history of things will be seen more as a false boom as the hand of gov't was able to mask the problem for a time and now we see the effects to a degree much worse from all the intervention. Bush is so bad even the liberal/progressives (the supposed socialist/commies among us)who champion Obama are condemning socialism and to our "shock and awe" waxing for the days of Adam Smith and the true laissez fiare ideals! [URL="http://www.truthdig.com/report/item/20081209_republicans_bring_socialism_to_america/"][COLOR=red][B]http://www.truthdig.com/report/item/20081209_republicans_bring_socialism_to_america/[/B][/COLOR][/URL] Repubicans abandoned the ideals of Adam Smith long, long ago. The myth is that only democrats are socialist but the facts speak much louder that in truth republicans are as well. Folks like Bill Kristol and Max Boot only point out the obvious of this fact and even go so far as Max basically put it, there's no difference between liberals and conservatives anymore. They are the same thing and the proof and admission from the so-called otherside is Obama's appointments that spell literally no change at all. The beltway crowd knows the truth and now admit it but the rest of us suckers are left holding the illusion. Time to bust that mythology once and for all. [/QUOTE]
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