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One can do A LOT of stupid things economically that don't work in the long-run. Look, I've decided to stop paying my mortgage - look at how much money I save! And... a few months or a year later, you're out on the street and have lost the home.
Trickle-up economics is generally an idiotic idea, but since the problems didn't show up immediately, and it felt good in the short-run, it was hailed as brilliant at the time. Look at the nation now, and you have to ask how well that worked out for everyone aside from the top 0.1%
In theory all economic policies are good and bad on paper. In actuality, all economic policies fail. They either are bad off the bat or bad down the road and in varying degrees.
If Reagan were elected in 2008 and still president today. The MSM would run constant attacks on how we have the most Americans ever out of work. Most homeless Americans ever. Corporate profits and the top 1% are at all time highs at the expense of the ever shrinking middle class and how generation x is the first generation not to be as well off as their parents at this point in their lives. All thanks to radical right wing policies.
Reagan would never have been elected in 2008 because he wasn't a conservative. He was a moderate and that is why he was well liked when he got elected. The republican party today would throw him aside. Or I should say the conservatives would throw him aside.
Reagan would have done exactly what Obama did... there was practically no disagreement about that among the mainstream parties. The only people who thought the bailouts were a bad idea were radicals or crazies. The Repubs probably would have skipped the clean energy stuff and emphasized whatever made the most money... and probably favored the upper classes over the middle class and the poor.
So we can trace problems with the economy to LBJ with creating the failed war on poverty as a part of the great society. If you really wanted to, you can even go back to FDR if you consider Social Security and the rumors of Lend Lease to the Social Security shortfalls even back to the war.
Taking into account all of the problems he'd have waiting for him in 2008 how would Reagan had responded to the 08 circumstances?
Ronald Reagan would have proved that Herbert Hoover was no unlucky man overwhelmed by events buy showing that someone else could turn a stock Market Crash into a Financial system failure and a general economic failure where from 30-40% of the nation would loose its jobs. The rest of the World including China would have followed us into economic Hell.
Ronald Reagan would have proved that Herbert Hoover was no unlucky man overwhelmed by events buy showing that someone else could turn a stock Market Crash into a Financial system failure and a general economic failure where from 30-40% of the nation would loose its jobs. The rest of the World including China would have followed us into economic Hell.
China and India are the only two parts of the world that really didn't follow the US into economic recession if not depression already. Yes the effects could have been worse but who knows.
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