is stagflation already here?

[Maineguy04654]

Originally Posted by Mark S.

I'm not a fan of Obama, but Reagan laid the foundations for the current mess we're in now. He started the fire, and Bush I and Clinton threw gas on it. Bush II threw gas, the lawn furniture, and everything but the kitchen sink to keep it going.

Hoping for a Reaganesque solution is like thinking what really would've saved the Titanic are a few more icebergs slamming into the hull.

What? If Regan's policies had been left alone we would not be in the seem we are in. The vast Majority of the economic problems we have now are directly related to policies of Barney Frank and the others who FORCED banks to loan money to people who they know could not pay them back though the scam known as fanny may and freddie mack. For those of you that do not know they are GOVERNMENT entities that buy loans from banks under the guise of freeing up the banks cash. You borrow money from a bank the bank sells your loan to FM or FM and they in turn bundle a large amount of these loans together and sell them as investments. This is directly responsible for the economic problems we face today. The biggest problem I have with Regan is when he turned on us who believe in the Constitution is when he signed the 1986 NFA ban. That really pissed me off and was a direct slap in the face to all firearms owners. That was just a back door deal but non the less it really pissed me off. I even wrote him a letter telling him so.

[Mark S.]

Barney Frank's handling of home loan legislation had nothing to do with American jobs being shipped overseas en masse for the past 25 years. Reagan got that ball rolling.

When Reagan came into office, the United States was the largest creditor on the planet. When he left office, we were in huge debt. We're now one of the largest debtors in the world.

Take a look at the earning power of the average middle class income in 1980 vs. now. The rich have gotten richer, the poor have gotten poorer, and the middle class is working 2 full-time jobs and existing on a mountain of debt just to (barely) stay above the poverty line.

I'm not blaming it all on Reagan. But he definitely began the mess we're in now. This recession wasn't born out of Barney Frank's legislation over the past 10 years. It was born out of an insance fiscal policy practiced in this country since the early 1980s. Trickle down economics does NOT work. Unless you're rich. Then it works great.

[OutDoorNut]

Originally Posted by maine4.us

I know stagflation is high unemployment and high rate of inflation. Some might argue that inflation isn't that high..... but in fact you must weigh in flat wages for several years. Unemployment, we have out the kazoo, they say we don't have a high rate of inflation, but have you noticed prices keep creeping up on everything? So why is this happening? People have tightened their belts until their belly has a groove, a raise is when your boss gives you a Boston telephone book to sit or stand on, and many people I know have lost their jobs and more are losing them daily. Anybody have a particular explanation for this? Why are prices rising in a down economy? Supply and demand doesn't cut it now. Demand is low and supply is too, does that mean terminally high unemployment from now on?

YouTube - FOMC statement, Pres. Obama's CNBC town hall

[Cornerguy1]

Very interesting discussion folks...............but the Maine focus (if there ever was one) has long vanished.

I know the Politics forum is a little rough and tumble, but the Site owners prefer that discussions on national political issues take place in that venue.