has beginnings that can be traced back
to the Reagan administration...right??
Yes, this can be said...
The Debt to GDP trendline clearly begins
uptick in 1884
You do realize that what is happening has beginnings that can be traced back to the reagan administration...right??
Garn-St Germain?
Our Founding Fathers were staunchly against a central bank (except for Monarchist Alexander Hamilton). As Thomas Jefferson said (to paraphrase): a central bank is a greater threat to a republic than a standing army at the gates. Why? Because they knew what Rothschild knew (and stated): Give me control over the currency and I care no who makes the law.
In a republic, “who makes the law” is that body of politicians elected by the people to represent them. So, the central bankers know and state that if they have control over the currency, THEY are the rulers, not representatives, of the people.
Every president since 1914 has been subjected to the decisions of the Federal Reserve (our central bank). The Fed and its member banks and its selected cronies in politics and especially in the financial sector, profit and gain power in the boom-bust cycle and by the issuance of fiat currency.
EVERY president has been subjected to power of the central bank.
Yes, President Reagan was too. But to try to pin the current economic catastrophe on him is foolish. He came to power with that same long-running Democrat control of the congress. THEY controlled the purse strings.
And yes, President Reagan employed deficit spending, but it was NOT the same as deficit spending after his term. Why?
Deficit spending, per se, is not necessarily a bad economic policy, if it is of a small percentage of the GDP and if it is for a short duration and if the government pays back the credit they pull forward.
Using a credit card, you can spend more than you earn for a few months just as long as you make payments on the interest and then pay down the principle. If you do, at the end you will have enabled a higher standard-of-living and the assets you have will be tangible capital (usually, and analogously, of course).
President Regan's deficit spending was a much smaller percentage of the GDP. And his plan was to make it for only a few years. The problem was that once the economy took off, Congress went on an insane spending spree that made it very difficult to pay off the debt. This got pushed from one president to the next. Bush I was no help, spending to try to win friends and votes on the other side of the aisle. Slick Willy tried to make it appear they had spending under control by diverting funds from the military to pay for social programs. He did so because he knew the high-tech bubble was popping. He didn't want it to pop under his term because he wanted his legacy to be “8 years of peace and prosperity,” as delusional as that was. So he created a housing bubble by enforcing hyper-easy liquidity in the mortgage industry by enforcing the Community Reinvestment Act of Jimmy Carter — a home-ownership giveaway to the poor.
Bush II foolishly trusted the voice whispering in his ear from the Fed and believed that inflating the currency and pumping huge amount of funds into certain industries would prevent the housing bubble from popping. He was wrong. It was bad debt. It needed to be cleared and the banks needed to go bankrupt and people needed to lose their homes and move back into apartments, etc. because it was not real prosperity they had earned.
But what Obama and his communist/socialist/fascist cohorts are doing is ten-times worse. Bush spiked the punch during the last 8 years, but Obama is slipping us a mickey.
No one but NO ONE who has even an inkling of macroeconomics can look at what those in power are doing and convince themselves that these decisions are being made to strengthen the dollar, get our economy back on track, pay off our debts, and promote real economic prosperity.
Obammie and his Commies are using the current situation and are WORKING WITH THE FED to bring about the collapse of the US Dollar. They are shoveling money to all their friends and supporters to pay them off and help them earn back their losses while the dollar still has value. When it collapses, the wealth of most Americans has effectively been destroyed (asset value, income value, retirement plans, etc.) they think the American people will demand we abandon the dollar and will gladly take .25c to the “WORLD CURRENCY” that we sign on to. Of course, that currency and its economy will be controlled by a global “central bank” labeled something like the World Economic Ministry or something.
THIS has been the goal of central-bankers since they first began colluding with major industry and politicians on the communist and republican side if the aisle in the 19th century.
THE CENTRAL BANKERS ARE THE PUPPET MASTERS.