California is a sorry excuse for a state

[59 Dano]

There was another on this site that fully understood what my intention was; you’ll have to forgive me if matters of nomenclature arise on Friday nights.

I do find it strange, though. How is it the UPS guy knew what I was talking about right away, and not the really smart Fedex guy?

If only you knew what you were talking about.

 

[59 Dano]

I lived through the seventies, and remember what you have apparently either forgot, or maybe never learned, or are maybe just willfully ignorant about. The oil shocks hit the country that was completely unprepared. That, and not tax policy is what started the decade when repubs started blaming the country's problems on high taxes. Between the first oil shock in 1973, the Nixon crisis, and the Vietnam war, the economy had problems, but not because of tax policy.

What happened in the seventies was predicted in the mid-sixties. Before the oil shock. Before Nixon was elected. Before the war kicked into high gear. Pure coincidence, I'm sure.

High energy costs and low supply were directly responsible for the economic woes, and the wealthy saw high taxes as a scapegoat they could use to demand lower taxes and get Reagan to agree.

And the prosperity that followed the tax cuts were also pure coincidence, I'm sure.

 

[59 Dano]

You mean the 80s with mortgage rate hovering around 11% or higher, hitting over 15%, high inflation, unions declining, permanent deficit spending originating, Iran-contra, CIA selling cocaine, real wage growth stopping, etc, etc, etc???? Or do you really believe your own post? I have to assume you are being sarcastic. Forgot to mention unemployment averaging 7.4% for the decade.

HOW DID WE SURVIVE???????

 

[DriveInDriveOut]

HOW DID WE SURVIVE???????

By crippling future generations with massive amounts of debt, just like the Republicans are doing now. Ttku

 

[59 Dano]

Most of America didn't prosper, as poverty rates climbed during the 80s, then fell when Clinton was in office, rose again under Bush2, rose until after Obama's first full year in office, and fell the rest of his term. Now, again under repub leadership you can expect poverty levels to start climbing again within the next 2 years.

The poverty rate has bounced between 11% and 15% since the early 70s. To suggest that anyone has done anything to significantly affect the rate in either direction is a bit disingenuous. It's 4 points one way or the other.

Anyone who thinks the middle class prospered under interest rates averaging over 12% is a fool.

At the time the '81 tax cut bill was signed (August), the 30 year mortgage interest rate was just over 17% as the Federal Reserve was using high interest rates to combat inflation. Eight years later it was under 10%. The annual rate of inflation decreased by nearly half during that same period (8.9% to 4.6%) and has remained at 4.1% or less since 1991.

If you want to paint a picture of the 80s economy, paint an accurate one.

 

[59 Dano]

Incomes grew, but slower than inflation. How do you think poverty rose if people were getting richer???? My god, you can't even figure that out. How were people paying off homes faster when interest rates were double digits almost the entire 2 terms of Reagan???? The housing market was dead. No new buyers could afford the payments. Why don't you look at the facts, and grow up and quit calling me names just because you don't like the truth.

Interest rates started falling shortly after Reagan signed his tax cut bill in August '81.

Now, let's get to incomes and inflation.

During the 70s, the economy grew at an average annual rate of 3.2% and inflation averaged 7.4%.

The Reagan years? Economy grew at an average annual rate of around 3.5%. Inflation? 4.3%

Stop arguing that lower inflation and falling interest rates are bad for the average person.

 

[59 Dano]

Interest rates AVERAGED over 13% during his entire tenure, and NEVER fell below 10%, and you want to blame the previous administration. Unemployment averaged 7.5% while Reagan was in office, and was higher in his first five years than the year he was elected. It only fell during his final two years, when Tip O'Neill took over for the senile fool.

Interest rates were rising when he took office and started falling within a year. C'mon, try and spin it as though he jacked them up from nice, low rates. And those 6 consecutive years of unemployment declines...

And while blaming the previous Carter administration for an entire bad decade of economic data, you look at the fall of the USSR and give Reagan all the credit, even though the cold war had been going on for decades.

How easily you forget that you histrionic clowns were screaming that he was the worst thing ever to happen to relations between the USSR and the United States and that he was just a stupid cowboy was going to cause global thermonuclear destruction because he was going to push them too far.

Yeah, about that.

 

[dmac1]

What happened in the seventies was predicted in the mid-sixties. Before the oil shock. Before Nixon was elected. Before the war kicked into high gear. Pure coincidence, I'm sure.



And the prosperity that followed the tax cuts were also pure coincidence, I'm sure.

What the hell are you talking about???? Prosperity that followed????

Not for the middle class. Middle class has been stagnant since 1980. Prosperity for the top 10% doesn't equal prosperity for the nation, and only an idiot would believe otherwise.

 

[dmac1]

The poverty rate has bounced between 11% and 15% since the early 70s. To suggest that anyone has done anything to significantly affect the rate in either direction is a bit disingenuous. It's 4 points one way or the other.



At the time the '81 tax cut bill was signed (August), the 30 year mortgage interest rate was just over 17% as the Federal Reserve was using high interest rates to combat inflation. Eight years later it was under 10%. The annual rate of inflation decreased by nearly half during that same period (8.9% to 4.6%) and has remained at 4.1% or less since 1991.

If you want to paint a picture of the 80s economy, paint an accurate one.

And you are proud that under Reagan, we had interest rates over 10%!!!!!! What a joke!!!!! If that happened under Obama, you'd be out marching in the streets!!!!! You Reaganites always crack me up with how you see the worst conditions in the 20th century and praise Reagan for letting you have them. You fell for his act, hook, line, and sinker.

 

[dmac1]

The poverty rate has bounced between 11% and 15% since the early 70s. To suggest that anyone has done anything to significantly affect the rate in either direction is a bit disingenuous. It's 4 points one way or the other.

Funny how it is always on an upward trend under republicans and then goes down when democrats take over.

 

[DriveInDriveOut]

Lol. Reagan was such a . The obsession with him is hilarious.

 

[dmac1]

And where is the taco truck Trump promised would be on my corner???????

 

[59 Dano]

What the hell are you talking about???? Prosperity that followed????

Not for the middle class. Middle class has been stagnant since 1980. Prosperity for the top 10% doesn't equal prosperity for the nation, and only an idiot would believe otherwise.

OK, if you insist. The Reagan 80s were a time of dire poverty for the middle class that was 984597348759834759834 times worst than the Great Depression. Just horrible.

 

[59 Dano]

And you are proud that under Reagan, we had interest rates over 10%!!!!!! What a joke!!!!! If that happened under Obama, you'd be out marching in the streets!!!!! You Reaganites always crack me up with how you see the worst conditions in the 20th century and praise Reagan for letting you have them. You fell for his act, hook, line, and sinker.

He inherited high interest rates. He drastically reduced them. I can't help that you're stupid enough to hold that against him.

 

[59 Dano]

Lol. Reagan was such a . The obsession with him is hilarious.

I don't know why dmac is losing his rectal effluvia over him. He's obsessed with rewriting the 80s for some reason. He and his family couldn't cut back then, I guess. Not our problem.

 

[DriveInDriveOut]

I don't know why dmac is losing his rectal effluvia over him. He's obsessed with rewriting the 80s for some reason. He and his family couldn't cut back then, I guess. Not our problem.

Says the guy freaking out that someone said something negative about papa Raygun. You're the one spewing the revisionist history.

It's classic Republican and Democrat BS. These chumps aren't even out of office before they start trying to claim their fictional legacy and sheep like you eat it up. Reagan was just as bad as all of them, deal with it.

 

[vantexan]

Says the guy freaking out that someone said something negative about papa Raygun. You're the one spewing the revisionist history.

It's classic Republican and Democrat BS. These chumps aren't even out of office before they start trying to claim their fictional legacy and sheep like you eat it up. Reagan was just as bad as all of them, deal with it.

No, he wasn't. Deal with it.

 

[dmac1]

Funny how this started with California being the worst place on earth and then morphed into how a man from California, the governor of the state became the greatest man to ever live on the planet and become president, with a 'texan' bowing down and bending over to please the senile man.

 

[vantexan]

Funny how this started with California being the worst place on earth and then morphed into how a man from California, the governor of the state became the greatest man to ever live on the planet and become president, with a 'texan' bowing down and bending over to please the senile man.

And you got your panties in such a bunch you outright lied about Tip O'Neill running the government for him. By the way I believe Reagan was born and raised in Illinois. Solid Midwestern values before libs took over the state. Ran California much better than ol' Moonbeam ever did.

 

[dvalleyjim]

I was an adult through Carter and Reagan. I voted for Carter. Was scared to death of Reagan. Next election I was a Republican, voted for Reagan. Along with every state in the union except one. You don't know what your talking about. You must be young and indoctrinated! I was on my route in Porter Ranch CA. I noticed people stopping on the 118 freeway overpass and getting out of their cars. I pulled my truck up to the overpass just as Reagan's Hearst and motorcade went by to Simi for burial. I'll never forget it.