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As the architect of Trickle Down Economics and the quarterback of the Reagan Administration policies I don't have much respect for his economic theories which are in part why the nation finds itself in the condition it's in.
As the architect of Trickle Down Economics and the quarterback of the Reagan Administration policies I don't have much respect for his economic theories which are in part why the nation finds itself in the condition it's in.
And I'm sure Lord John Maynard Keynes is excused?
That said I'm not a proponent of monetarism or the chicago school brand of economics.
This guy was ahead of his time. As a liberal, I admire the brilliance he had.
I don't. His assault on sober governance, diminishing the value of higher calling/ prevention and all hail worship private enterprise yielded negation of responsibility in deference to corporate golden calves. New age tyrants by any other name stink far worse than any despot of history. At least Hitler had the decency to show his ugly face. These days they're an abstract entity living la vida loca as vampires.
Playing on sentiments of the good old days when fire arms wouldn't fire due to humidity didn't change the nature of our modern era responsibility or the complexity of the world. It only put us behind the 8 ball at it's mercy masked by dozens of abstractions. He's just another brand of existential economics.
As the architect of Trickle Down Economics and the quarterback of the Reagan Administration policies I don't have much respect for his economic theories which are in part why the nation finds itself in the condition it's in.
Government intervention in the housing market and people like you who feel entitle to other people's money via government taxation is the reason why this nation finds itself in the condition it's in
Government intervention in the housing market and people like you who feel entitle to other people's money via government taxation is the reason why this nation finds itself in the condition it's in
Milton Friedman was likely the most eloquent spokesperson for individual liberty in the United States in the latter half of the 20th century. May he rest in peace.
Government intervention in the housing market and people like you who feel entitle to other people's money via government taxation is the reason why this nation finds itself in the condition it's in
First of all it's been about 20 years since I've seen an income tax return check. I've been PAYING income taxes during that time. I don't know where the hell people like you get some of your ideas or opinons.
Second nobody put a gun to the the head of the biggest banks and financial institututions in the world and told them to start securitizing mortgages and and then creating credit default swaps for trillions of dollars and then trading them in markets with very little transparency. Nobody told banks and mortgage brokers to engage in some praticies that were clearly predatory. The problem was EVERYBODY was looking to make money and the entire housing market got driven by greed.
Third the rating agencies did an absolutely lousy job of assessing the risk related mortgage backed derivatives and credit default swaps.
Fourth, they took the risk but essentially the U.S Taxpayer bore the consequences for that risk in the name of TARP.
Fifth the taxation of capital gains, corporate taxes and individual taxes are near 70 year lows for this country. If you think excessive taxation is the problem with the American economy than you've been effectively manipulated by the Conservative Movement or you just don't know that much about history of taxation of the United States.
That said I'm not a proponent of monetarism or the chicago school brand of economics.
The thing about economics is you are argue about it all damn day long.
The reality is that after 30 years it's safe to say the only thing "Trickle Down Economics" has done is significantly increased the income of the top 20% of income earners and stagnated middle class incomes.
First of all it's been about 20 years since I've seen an income tax return check. I've been PAYING income taxes during that time. I don't know where the hell people like you get some of your ideas or opinons.
Second nobody put a gun to the the head of the biggest banks and financial institututions in the world and told them to start securitizing mortgages and and then creating credit default swaps for trillions of dollars and then trading them in markets with very little transparency. Nobody told banks and mortgage brokers to engage in some praticies that were clearly predatory. The problem was EVERYBODY was looking to make money and the entire housing market got driven by greed.
Third the rating agencies did an absolutely lousy job of assessing the risk related mortgage backed derivatives and credit default swaps.
Fourth, they took the risk but essentially the U.S Taxpayer bore the consequences for that risk in the name of TARP.
Fifth the taxation of capital gains, corporate taxes and individual taxes are near 70 year lows for this country. If you think excessive taxation is the problem with the American economy than you've been effectively manipulated by the Conservative Movement or you just don't know that much about history of taxation of the United States.
Low down payment loans were made to people with a bad history of repaying. This has never been a good idea which is why it is not done in the free market. That was the cause, the rest is after the fact.
"The problem was EVERYBODY was looking to make money and the entire housing market got driven by greed."
This is always the case in business. But, according to you, only for the housing industry was this disastrous. thx for the laugh.
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