Reaganomics and Thatcherism where NOT new and revolutionary politics sent to deliver us from “old school” economics.This was an OLD CON repackaged and sold via a Satchi and Satchi advertising campaign. Its results where enevitable ,economic ruin in 20 years!
THE PLAN , SAME AS THE LAST TIME!
How does one decrease the cost of labor in America or the UK?
Well first, you have to bust the unions. Check.
Then you have to create a pressing need for people to work – perhaps give them easy access to credit and then get them to go so deeply into debt that they will have to work until they die to pay them off. Check.
It also helps if you push up the cost of living by manipulating commodity prices. Check.
Then, take away people’s retirement savings. Check.
Lower interest rates to make savings futile and interest income inadequate. Check.
And finally, threaten to take away the 12% a year that people have been saving for retirement by labeling Social Security an “entitlement” program – as if it wasn’t money Americans worked their whole lives to save and gave to the government in good faith. Check.
THE BLAME? THATCHERISM AND REGANOMICS OR DEBTORISM ECONOMICS INSTEAD OF CAPITALISM ECONOMICS!!
“Ronald Reagan and Alan Greenspan pulled off one of the greatest frauds ever perpetrated against the American people in the history of this great nation, and the underlying scam is still alive and well, more than a quarter century later. It represents the very foundation upon which the economic malpractice that led the nation to the great economic collapse of 2008 was built. Essentially, Reagan switched the federal government from what he critically called, a “tax and spend” policy, to a “borrow and spend” policy, where the government continued its heavy spending, but used borrowed money instead of tax revenue to pay the bills. The results were catastrophic. Although it had taken the United States more than 200 years to accumulate the first $1 trillion of national debt, it took only five years under Reagan to add the second one trillion dollars to the debt. By the end of the 12 years of the Reagan-Bush administrations, the national debt had quadrupled to $4 trillion!“
CREATE DEBT AND CALL IT WEALTH AND GIVE YOURSELF A BONUS
OF COURSE THE WEALTH CREATION NOW DEPENDS ON JUNKIES PAYING OFF CREDIT CARDS AND THE UNEMPLOYED PAYING MORTGAGES!!!NOT THE BRIGHTEST OR BEST THING TO DO ,BUT THE BANKER GOT HIS BONUS FOR DOING THIS AND THE TAXPAYER GOT HANDED THE BILL TO CLEAN UP THE MESS!!!
SO THE BANKER AND THE POLITION CONSPIRE AND SELL THE TAXPAYER INTO DEBT SLAVERY!!
TODAY THE USA IS 14 TRILLION IN DEBT AND COUNTING AND YOU THE TAXPAYER IS SUPPOSED TO PAY FOR THIS DEBT, EVEN THOUGH YOU DID NOT CREATE THIS DEBT OR EVEN BENEFIT FROM IT!!!
JUST BEEN FOOLED AGAIN!!!
The people that “fell” for this economic con where NOT the brightest and the best , they where the greedy and short sighted and the just plain stupid ,ignorant and indoctrinated!! These are the exact same people using the exact same policies that caused the exact same results in the 1920’s. So the people pushing this agenda must of known what its outcome would be and the people that believed where the stupid and ignorant and indoctrinated and the greedy.
THE IMF AND WORLD BANK “”CURE” IS ALL PART OF THE CON. THE SOLUTION IS SIMPLE DEFAULT TODAY AND STOP THE BANKER BAILOUTS!!!!
STATE CAPITALISM IS THE ECONOMIC POLITICAL MODEL OF REAGANOMICS AND THATCHERISM AKA FASCISM
State capitalism has various different meanings, but is usually described as a society wherein the productive forces are controlled and directed by the state in a capitalist manner, even if such a state calls itself socialist. Corporatized state agencies and states that own controlling shares of publicly-listed firms, and thus acting as a capitalist itself, are two examples of state capitalism
OF COURSE THIS IS JUST FASCISM!!
Fascism should more appropriately be called corporatism because it is the merger of state and corporate power.
Benito Mussolini, fascist dictator of Italy (1922-1943)
Both Reagan and Greenspan saw big government as an evil, and they saw big business as a virtue.
THEY WHERE THE BIG BUSINESS DIVISION OF STATE CAPITALISM
They both had despised the progressive policies of Roosevelt, Kennedy and Johnson,
THEY WHERE THE BIG GOVERNMENT DIVISION OF STATE CAPITALISM
and they wanted to turn back the pages of time. They came up with the perfect strategy for the redistribution of income and wealth from the working class to the rich. If Reagan had campaigned for the presidency by promising big tax cuts for the rich and pledging to make up for the lost revenue by imposing substantial tax increases on the working class, he would probably not have been elected. But that is exactly what Reagan did, with the help of Alan Greenspan. Consider the following sequence of events:
1) President Reagan appointed Greenspan as chairman of the 1982 National Commission on Social Security Reform (aka The Greenspan Commission)
2) The Greenspan Commission recommended a major payroll tax hike to generate Social Security surpluses for the next 30 years, in order to build up a large reserve in the trust fund that could be drawn down during the years after Social Security began running deficits.
3) The 1983 Social Security amendments enacted hefty increases in the payroll tax in order to generate large future surpluses.
4) As soon as the first surpluses began to role in, in 1985, the money was put into the general revenue fund and spent on other government programs. None of the surplus was saved or invested in anything. The surplus Social Security revenue, that was paid by working Americans, was used to replace the lost revenue from Reagan’s big income tax cuts that went primarily to the rich.
5) In 1987, President Reagan nominated Greenspan as the successor to Paul Volcker as chairman of the Federal Reserve Board. Greenspan continued as Fed Chairman until January 31, 2006. (One can only speculate on whether the coveted Fed Chairmanship represented, at least in part, a payback for Greenspan’s role in initiating the Social Security surplus revenue.)
6) In 1990, Senator Daniel Patrick Moynihan of New York, a member of the Greenspan Commission, and one of the strongest advocates the 1983 legislation, became outraged when he learned that first Reagan, and then President George H.W. Bush used the surplus Social Security revenue to pay for other government programs instead of saving and investing it for the baby boomers. Moynihan locked horns with President Bush and proposed repealing the 1983 payroll tax hike. Moynihan’s view was that if the government could not keep its hands out of the Social Security cookie jar, the cookie jar should be emptied, so there would be no surplus Social Security revenue for the government to loot. President Bush would have no part of repealing the payroll tax hike. The “read-my-lips-no-new-taxes” president was not about to give up his huge slush fund.
The practice of using every dollar of the surplus Social Security revenue for general government spending continues to this day. The 1983 payroll tax hike has generated approximately $2.5 trillion in surplus Social Security revenue which is supposed to be in the trust fund for use in paying for the retirement benefits of the baby boomers. But the trust fund is empty! It contains no real assets. As a result, the government will soon be unable to pay full benefits without a tax increase. Money can be spent or it can be saved. But you can’t do both. Absolutely none of the $2.5 trillion was saved or invested in anything.
That is how the largest theft in the history of the world was carried out. 300M people worked and saved their whole lives to set aside $2.5Tn into a retirement system that, if it were paying a fair compounding rate of 5% interest over 40 years of labor (assuming an even $62Bn a year was contributed), would be worth $8.4Tn today – enough money to give 100M workers $84,000 each in cash! The looting of FICA hid the massive deficits of the last 30 years in the Unified Budget. Presidents and Congresses were able to reduce taxes on the wealthiest Americans without complaint from the deficit hawks, because they benefited. The money went directly from the pockets of average Americans into the pockets of the rich.
AND TODAY THE THEFT CONTINUES WITH THE BAILOUT OF CORRUPT AND INCOMPITANT BANKERS!!!
IF SOME INCOMPITANT HAD JUST LOST MY LIFE SAVINGS ,GAMBLING ON THE STOCK MARKET CASINO, WOULD I THEN GIVE HIM THE MONEY I HAD SAVED AND PUT ASIDE TO PAY FOR THE BILLS ,RENT , ELECTRIC ,MEDICAL ETC?!OF COURSE NOT!!! …WELL IF YOU DID THEN YOU ARE A F*CKING IDIOT… OR A BANKER , OR THE US OR UK GOVERNMENT!!!
DO YOU THINK THAT THE WORLD WILL WANT TO INVEST IN THE ,POST RECOVERY ,USA OR THE UK ,WHILE ITS FINANCIAL INSTITUTIONS ARE STILL BEING RUN BY INCOMPITANT AND IRRESPONSIBLE PEOPLE THAT REPEATEDLY BANKRUPT THIER BUSINESSES!!???
THE GOVERNMENT SEEMS TO THINK SO!!!
DEFAULT TODAY AND ARREST THE FRAUDULANT BANKERS AND THEN WE ARE ALL DEBT FREE!!!!
Just like ICELAND is debt free today or Ecuador or like Argentina became debt free by defaulting in 2001!!