The economic problems of the late 70's were a result of Nixon's screwing around with the valuation of the dollar, the bill for the Vietnam fiasco coming due and serious uncertainty in the oil industry.
Next up: Reaganomics! I was there, I witnessed the whole thing in excruciating real-time.
In 1984, taxes on millions of low-wage workers went up to slightly offset tax cuts for the wealthy and a bloated military budget.
As you can see by the chart, the more affluent were able to start new businesses because they had more capital.
Those businesses failed because a sizable chunk of consumers had less money to spend on goods and services.
Pappy Bush punctuated the Reagan revolution (merely a comma) with a spike on the red and a dip on the green.
For the most part, (DINO, Republican Lite) Bill Clinton's policies were the least malignant while he was in office, he certainly shit the bed with NAFTA and Gramm Leach Bliley.
Dubya...
Cut taxes on the wealthy, invades TWO countries and handed out trillions of dollars to the banksters. Well? WHAT THE HELL DIDJA THINK WAS GONNA HAPPEN?
As shown in the graph, the crossover happened at the end of Dumbya's reign of error.
Obama's problem is twofold. First, he's a DINO Republican Lite, and second, his hands are tied due to congressional intransigence. (buncha fucking Koch whores)
I don't understand that whole regulation thing. How the hell does giving businesses the right to exploit workers and piss all over the planet improve the economy?
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