Posted by
Logical Party on Sunday, June 08, 2008 8:00:00 PM
Isn't it time we caught wind of supply side Presidents and Economics born with massive tax cuts that are a shock to the system leaving a recession, then a few years of good growth, terminating with economic devastation taking away all gains and further segregating economic classes?
During the "good times" our economy was inflated due to junk bonds, over priced stocks, dot-coms and a mortgage bubble created by fraudulent credit criteria. Our economy has ballooned on perception: the buying and selling of others hard work as our manufacturing sector hits an all time low. Reagan's Presidency ended with the market crash, trillion dollar deficits and high unemployment that ballooned under Bush Sr.
We are on the threshold of another collapse, with a deficit that dwarfs prior periods, and living costs burying the working class while their wages stagnate due to the globalization of economies, a lose-lose for the American worker. Thankfully and ironically, we are sustained by a falling dollar.
Of course the wealthy disproportionately benefited both times, yuppies created under Reagan, and the “uber class” under Bush Jr.
The most important part of a movie is the end. As said in the movie The Untouchables, "you can always tell the winner, he's the last man standing." Supply Side is down and out on the canvass.
Again.
David DiBello