Kasz216 said:
40 years would be 1972. 1971 was the year Richard Nixon said "I am now a Keynsian in Economics". So your timeline is a bit off. The US didn'tbecome Supply side until Reagan became president due to the rise of Stagflation... which was considered impossible under Keynsian Economics. So it's more like... 30 years. After which... it worked pretty well actually, up until about 5 years ago, after the bursting of the real estate bubble due to banks having to find a way to offload a bunch of unfavorable loans.
I don't see how demand side econmics would of actually prevented the realestate bubble, and was at least partially caused by demand side economics. IE the pushing for an expansion in homeownership and the feds buying morgages through freddie and fannie. (Though I know you don't see it as the main reason, I trust you realize it was at least a porton of the problem.) |
Really!! Reagan borrowed more money then all the presidents before him combined( From washington - carter). thats right reagan put us in a massive hole and we have never got out, What a great way to run a economy. . You knew exactly what I meant by about, 40 years. It's actually been about 33!! HOLY SHIT. So you take something out of context and then go on a rant about it? great way to debate.
