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Old 07-23-2013, 11:35 AM
 
Location: Londonderry, NH
41,478 posts, read 54,283,004 times
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I have just started Mr. Stockman's new book (?) (name memory on strike). His proposal is the US and most of the world's economy is no longer Capitalist by some form of government protected mistake. Intro and part of chapt 1 look good.
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Old 07-25-2013, 10:36 AM
 
4,730 posts, read 3,765,564 times
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I had seen Stockman on a Moyers TV show last year, he criticized the Tea Party types for their short sightedness on tax issues. An old Reagan era warhorse, he now sees the fruits of that political climate turn to sour grapes. Reagan was the frontman for the biggest transfer of our collective wealth ever, I know many will disagree on that but the truth is he jacked up the federal budget while lowering it's costs for his supporters. All in all a great election strategy, but a dismal failure of economic policy..
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Old 07-25-2013, 10:48 AM
 
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Stockman was charged with fudging financial numbers of auto suppliers he was managing several years ago. He is a crook.
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Old 07-26-2013, 09:33 AM
 
Location: Londonderry, NH
41,478 posts, read 54,283,004 times
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His rage is very apparent in the intro and first chapers although he explains the business failure as an example of personal stupidity. He is completely opposed to government bailouts of any business. I have to agree with that.
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Old 07-26-2013, 10:53 AM
 
651 posts, read 778,584 times
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Quote:
Originally Posted by jertheber View Post
I had seen Stockman on a Moyers TV show last year, he criticized the Tea Party types for their short sightedness on tax issues. An old Reagan era warhorse, he now sees the fruits of that political climate turn to sour grapes. Reagan was the frontman for the biggest transfer of our collective wealth ever, I know many will disagree on that but the truth is he jacked up the federal budget while lowering it's costs for his supporters. All in all a great election strategy, but a dismal failure of economic policy..

I agree. Reagan benefited from high interest rates and the lowering of them. He spent like a drunk sailer and benefited from decreasing interest rates which made him look good from a stock market perspective. He was the beginning of the largest stock market bubble in history.
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Old 07-26-2013, 12:42 PM
 
4,130 posts, read 4,083,905 times
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I've gotten through about a quarter of the book, and so far I like it in a depressing kind of way.

It's not that he is completely against bailouts, but that it wouldn't be nessicary if we socialized losses and privatized profits while completely absolving those responsible for their greed and/or stupidity of doing so. We lowered taxes while rising spending that benefitted business, providing Keynesianism for the prosperous classes in a supply side benefit funded by debt.

He is very critical of modern conservatism starting with Reagan that, as he stated, "It opened up a destructive dynamic in which the Democrats manned the state’s ramparts of spending while the Republicans tunneled through its foundation of income." (page 109).
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Old 07-28-2013, 03:05 PM
 
Location: 3rd Rock fts
749 posts, read 1,006,145 times
Reputation: 304
Default Tag: Thorstein Veblen

Stockman is a perfect example of why 'angry old men' materialize in the USA--chronic mendacities fueled by the greed/barbarism of human nature.

Ever since the US citizenry (DINOs & Republicans) sent Bush 1 to the gallows,** the blame lies with the voting citizenry. That's why 'we the people'/Congress deserve a ~10% approval rating.

**Ref: "Read my lips, no new taxes"
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