Posted 2 years ago on Aug. 30, 2012, 12:20 p.m. EST by ThomasKent
This content is user submitted and not an official statement
My best guess is the money from the Reagan tax cuts went into the stock market. Same thing happened with Bush tax cuts. This did not trickle down as intended. It inflated the price of stocks. The higher stock prices could not be sustained by the real economy. The tax cuts create a bubble that will inflate prices and then deflate it.
Include over leveraged banking practices permitted with the repeal of Glass-Steagall and unregulated derivatives markets to arrive at the no-growth recession we are in. High-yield savings accounts get about 1%. Under Reagan they were getting about 8%. The banks are over leveraged already and are not lending.
Are the Republicans serious or kidding?What is the Romney and Ryan plan other than undo whatever Obama did and take full credit for that? The Republicans do not seem to know what the real problems are.
Who killed Glass-Steagall? http://www.youtube.com/watch?v=x0k2PmF-o5Q
Max Keiser on Magical Thinking
Can you see the handiwork of Reaganomics in this video?