From: steve@celia.UUCP (Steve Tyree)
Newsgroups: talk.politics.misc,alt.activism
Subject: Re: "New Right" Libertarians?
Date: 13 Jan 93 03:17:44 GMT
Reply-To: celia!steve@usc.edu (Steve Tyree)
Organization: Rhythm & Hues, Inc., Hollywood

In article <C0pru9.BpH@dscomsa.desy.de> Hallam@zeus02.desy.de writes:

->Regan produced a non sustainable bubble. It was no more a genuine "boom" than
->the"Barber boom" of the sixties. Everyone knows that it is possible to produce
->a boomby spending more than your income. Regan effectively devalued the dollar
->to halfits intrinsic value.What happened was that the credit lines ran out and
->it was no longerpossible to maintain spending.The inflationary pressure due to
->twelve years of living beyond means is the current problem that has to be
->faced.

 So NO tangible results occurred because of this "fake" boom ?
The home computer revolution, silicon valley, home entertainment, cable
TV, fitness revolution, et al were all developed during the reagan boom.
This was possible due to the 'investment climate'. Are you trying to
say that nothing has changed from 1979 to now ? If Gramm/Rudman wasnt
ignored in the 1990 budget agreement, the deficit would soon be close
to nill. 
 Also, OMB and other estimates from congress were predicting that the
economy would continue to grow and the deficit continue to shrink as
Bush took office. Then, the regulators struck.
 If spending causes booms, why arent the over 300 billion dollar deficits
we now have, causing an economic boom ? Darman and Bush have shown that Keynes
is Dead and Neo-Classical is back. According to Keynes, we should be under-
going a Bush/Clinton boom right now.

>The Reganite deregulation caused the second biggest financial disaster in US
>history.the biggest disaster being original reason why regulation was originaly
>introduced.

 The "deregulation" was enacted as Reagan was entering the white house. What
the conventional critical wisdom says is that his lack of enforcing the exist-
ing regulations is what caused the problem. This of course ignores the fact
that Reagan sent in regulators to try to close down some banks before they went
extremelly insolvent. Some of these efforts were blocked by the purchased 
elites on capital hill. Remember Jim Wright and the Keating 5. You do know
what they were guilty of, no doubt ? The SandL bailout was a bi-partisan 
elite problem. The real roots of the problem may have been caused by the 
federal reserve lowering inflation via the 1982 recession/tight fiscal policies
and reagan then almost making it vanish. This caused a lot of third world
loans and SandL loans, which were made during the nixon/carter big government
inflation ridden 70's, to become credit risks.

 Reagan entered the white house saying -
                      "Government is not the solution,
                        Government is the problem."
   You didnt expect the entrenched political elites and entrenched media
  elites to greet this populist with open arms, did you ? Why are they
  greeting Clinton with open arms. Heres what Clinton might be saying
                      Government is not the problem,
                        Government is the solution.
 While Reagan was president, trench warfare was occuring in congress as
some of his men were attacking the established elites. His men also did
abuse power during this infighting. Unfortunately, what most of america
dosent know is that the congressional elites commited 10 times as many
impropiaties during this time of struggle. This lack of coverage was due
to the dominate media elitist biases. 

 Steve Tyree - These opinions are mine and mine alone.
Newsgroups: talk.politics.misc,alt.activism