NinjaguyDan said:
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? |
While I agree with most of your assessment, I have a couple of points to make:
1) "Being there" doesn't make a position stronger. In fact, it can make it worse. There are always people who have it rough in good times, and people who have it good in bad times, and personal experiences flavour the entire view of that time. My parents had it pretty well during 2008/2009, as did their friends, and immediate family. Everybody in their bubble was doing well - and this is how most people judge life, by assessing their immediate bubble.
This problem is made worse in a country like the USA, where it's a) very large and has a very diversified economy, and b) different levels of Government may have different directions of policy. Certain sectors that effect one part of the country (say, manufacturing) may be in a glut, but others - finance, entertainment, technology, may be exploding. As such, those living in Pittsburgh will have a completely different bubble to those living in San Francisco.
Also, those who are struggling in a failing city may be blaming the current federal policy, when it's actually a cause of decades-long state or city policy, or the other way around.
2) Not all regulations are about "exploitation". Regulations that control the water pressure in your toilet, the amount of leather in your shoes, the thickness of your toilet seat, the contents of your dishwasher tablets, are not exactly about worker exploitation. But they all come at costs. Regulations in the banking sector (where I work) do little to make the sector more stable, or improve worker or customer safety. What they're mostly about is adding up the costs so that compliance costs so much money that only the few super-banks can survive. Anybody smaller will die or will have to merge with a bigger fish.
Here's a post someone made on my Facebook, he works in construction, how much of this is about worker exploitation?
Here are the steps required for ConEd to bring in gas service to a new construction project. It would be comical if it weren't for all the dead-weight loss from the delays.
1. After the licensed plumber sends in all the documents certifying approval from various city agencies, and wait 2-3 weeks, the gas company will send a "field engineer" to survey the site. A "field engineer" is a glorified intern who checks out the site, take notes, and reports to a project manager.
2. Once the field engineer submits their report, a project manager will then come to the site (after another 2-3 week wait), and give you your options, which is often a choice between something you don't like, and something you want but will cost extra.
3. Once a plan is selected, the gas company's engineering department (real engineers) will produce official plans to submit to the building department (1-2 months).
4. Once the building department approves the plans and issues permits (1-2 months), you wait for the gas company to schedule for installation (another 1-2 months).
5. Ah, the day has finally arrived! Gas is being installed! Here's the fun part...
a. A surveyor will come to the site and mark up the path, along with underground utilities (so they don't hit something like a water main)
b. About a week later, a street cutter will come and saw-cut along the lines laid out by the surveyor.
c. About a week later, an excavation company will dig up the areas cut by the prior crew from B above, and cover with metal plates (different company as street cutter).
d. About a week later, the gas company's in-house plumbers will come and install the actual pipes.
e. About a week after that, the excavation company will return and fill in the hole.
f. About a week after that, a paving company and/or a concrete company will come to repair the street and/or sidewalk, respectively (separate company as the excavation company)
6. Once that's done, the Building Dept will inspect the property, and if passed, will issue authorization to install gas meters (2-4 weeks).
7. Once the building department authorizes the gas meters, gas company will do a redundant inspection (because they don't trust the building dept). 1-2 weeks.
8. Finally after all the above steps have been taken, they will come and install the meters.
