I'm thinking you didn't read the article that you linked.
Just an aside, what were the mortagage interest rates before Reagan?
Yup, you guessed it. Mortgage rates reached a historic high of 18 percent. (1980) Prior to this, Nixon was fighting Inflation (price freezes, etc., when that ended, inflation shot even higher.)The recession was starting prior to Reagan, the Iranian invasion? etc. Lot's of causes. Reaganomics helped to bring things into check.
What should we all believe?
This is intersting too:
(the Wikipedia article)
Yet, the recession stretched well back into 1970s, well before the Reagan economic program. Moreover, the performance of the U.S. economy under Reagan compared favorably to Margaret Thatcher's Britain, which had been consistent in its application of a monetarist regime (a tight monetary policy and a tight fiscal policy, which resulted in deflation in the midst of depression).
===Everybody in the world looks at Americans now and says 'How can these people be so vulgar and stupid and have so much money?'.====
Maybe they should get a clue and follow our example. Your reasoning would conlude they would have more money if they drove large cars and were vulgar like us. PS, how will a Hybrid 2 door sub-compact car pull my boat? No, I do not want a third vehicle just to not drive my large truck by myself. Get a grip.
E
Slashdot Mirror
I'm thinking you didn't read the article that you linked. Just an aside, what were the mortagage interest rates before Reagan? Yup, you guessed it. Mortgage rates reached a historic high of 18 percent. (1980) Prior to this, Nixon was fighting Inflation (price freezes, etc., when that ended, inflation shot even higher.)The recession was starting prior to Reagan, the Iranian invasion? etc. Lot's of causes. Reaganomics helped to bring things into check. What should we all believe? This is intersting too: (the Wikipedia article) Yet, the recession stretched well back into 1970s, well before the Reagan economic program. Moreover, the performance of the U.S. economy under Reagan compared favorably to Margaret Thatcher's Britain, which had been consistent in its application of a monetarist regime (a tight monetary policy and a tight fiscal policy, which resulted in deflation in the midst of depression).
===Everybody in the world looks at Americans now and says 'How can these people be so vulgar and stupid and have so much money?'.==== Maybe they should get a clue and follow our example. Your reasoning would conlude they would have more money if they drove large cars and were vulgar like us. PS, how will a Hybrid 2 door sub-compact car pull my boat? No, I do not want a third vehicle just to not drive my large truck by myself. Get a grip. E