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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: Elroy Jetson who wrote (104400)8/10/2009 10:15:03 PM
From: Robin Plunder  Read Replies (1) of 110194
 
"All of these Presidents managed to pay for the spending of their era and also reduce the burden of government debt on the economy. During this entire multi-decade period of time, from 1945 to 1980 the Federal Government debt declined from 80% of GDP to 25% of GDP! Solid economic growth based on sound economic policies.

Total Debt (including business, consumer and government debt) remained a stable percentage of GDP, around 130%. Interest rates remained higher than inflation, protecting savers against loss.

The came Ronald Reagan unleashing a tidal wave of fiat money creation. He massively increased spending while also sharply reducing taxes. Contrary to his carnival barker's pitch that this combo would energize the economy, lower taxes combined with fiat debt stunted economic growth."

and no doubt that is why we had to go off gold std because we could not afford to honor the gold backing of the dollar in 1971...

all voices against fiat money and endless debt growth have been met with disregard by all of our mainstream politicians, for decades...to blame one man for this is absurd...even today as the system collapses there are almost no prominent voices of either party trying to move us in a better direction.

seems like ur real concern is with the policy of reducing taxes...UFB

rp
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