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Pensacola Discussion Forum » Politics » This is a really interesting interview of Reagan's budget director, David Stockman. I hope you'll watch and it give me your reaction.

This is a really interesting interview of Reagan's budget director, David Stockman. I hope you'll watch and it give me your reaction.

+2
2seaoat
Hospital Bob
6 posters

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Hospital Bob

Hospital Bob

http://www.nbcnews.com/id/3036789/

2seaoat



I could not get the clip to run.

ZVUGKTUBM

ZVUGKTUBM

Your link is messed up.

http://www.best-electric-barbecue-grills.com

Sal

Sal

I found it.

So, Stockman has a book to sell?

If he wasn't neck deep in the supply-side mechanics that exploded the deficits in the 1980s, he might have some credibility.

bizguy



I think this is the link to the interview Bob referenced.

http://www.nbcnews.com/id/3036789/ns/msnbc_tv-morning_joe/#51391094

Floridatexan

Floridatexan

It would have been better if he was allowed to complete a thought before being interrupted by Joe or other guests. This stuff is complex and most people don't understand it. He did manage to make his point about the depth of the "crisis"; that the world wasn't going to end if the banks didn't get their bailouts, as the media, the Bush administration and members of Congress claimed would be the ultimate result of not going forward with the bailouts. In fact, the bailouts constituted a massive theft from the mainstreet economy...the real world, where money is supposed to finance actual commerce, not feed upon itself.

See my post on the "socialist" Bank of North Dakota. And read the whole article to find out how these megacorps reach into everyone's pocket every single day...also, notice the salaries of the top officers of the SBND, and also who benefits from the operation of a state bank like North Dakota's.

Hospital Bob

Hospital Bob

Sal wrote:I found it.

So, Stockman has a book to sell?

If he wasn't neck deep in the supply-side mechanics that exploded the deficits in the 1980s, he might have some credibility.

Yes it's the same interview I referred you to in the thread on the political forum.

Floridatexan

Floridatexan

Sal wrote:I found it.

So, Stockman has a book to sell?

If he wasn't neck deep in the supply-side mechanics that exploded the deficits in the 1980s, he might have some credibility.

Stockman resigned from the Reagan administration in 1985...which he says were in protest over economic policies...but then he proceeded to emulate in the private sector the very policies he was railing against...so there were probably other reasons for his resignation.

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http://www.huffingtonpost.com/2013/03/31/david-stockman-george-w-bush_n_2989094.html?ir=Business

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He also thinks Paul Volcker hung the moon...a little belatedly.

http://www.cbsnews.com/8301-505125_162-57389481/why-david-stockman-isnt-buying-it/

----------------------------------

Here's Stockman's article in the NYT that's referenced in the HuffPo article:

http://www.cbsnews.com/8301-505125_162-57389481/why-david-stockman-isnt-buying-it/


Although I enjoyed the TIMES article, and Mr. Stockman makes some valid and truthful assertions, he didn't practice what he's now preaching...and although he's pretty up front about his disdain for Keynes, he fails to make the connection between the perversion and distortion of Keynesian policy that led to the subprime meltdown...and valid Keynesian policy as espoused by Krugman and others, which would have led to a rise in prosperity for all...not the inflation of a new Wall Street conjured bubble...had the "bailout" been to Main St. and not Wall Street, if the banks had been forced to reorganize and suffer their own losses...and if there had been prosecutions on the order of those after the S&L crisis of the '80's.




Hospital Bob

Hospital Bob

Well there has to be something wrong with this idiot when he's opposed to debt. Only fools and wingnuts don't like debt.

Hospital Bob

Hospital Bob

Sal wrote:I found it.

So, Stockman has a book to sell?

If he wasn't neck deep in the supply-side mechanics that exploded the deficits in the 1980s, he might have some credibility.

I cannot believe I'm actually reading this. Sal, the same person who preaches that deficits and debt don't matter, is now saying this guy is no good because he "exploded deficits".

You just can't make this shit up. lol

Sal

Sal

Bob wrote:
Sal wrote:I found it.

So, Stockman has a book to sell?

If he wasn't neck deep in the supply-side mechanics that exploded the deficits in the 1980s, he might have some credibility.

I cannot believe I'm actually reading this. Sal, the same person who preaches that deficits and debt don't matter, is now saying this guy is no good because he "exploded deficits".

You just can't make this shit up. lol


Umm ...

Actually, deficits and debt don't matter was the mantra of the supply-siders in the '80s, and it turns our they were right.

They successfully spent the economy out of recession.

That's what we should be doing now.

And, now Stockman wants to preach gloom and doom about deficits and debt?

That's why he's "no good".

Hospital Bob

Hospital Bob

Sal wrote:

Actually, deficits and debt don't matter was the mantra of the supply-siders in the '80s, and it turns our they were right.
[/font]

Oh my god this just gets better and better all the time.

First you say...

If he wasn't neck deep in the supply-side mechanics that exploded the deficits in the 1980s, he might have some credibility.

and then on the heels of that you follow it with this...

Actually, deficits and debt don't matter was the mantra of the supply-siders in the '80s, and it turns our they were right.

Out of one side of your mouth you're praising his "supply-sider" policy.
And out of the other side of your mouth you're saying he has no credibility because he's a "supply-sider".

This makes my head hurt. lol

Sal

Sal

Bob wrote:
Sal wrote:

Actually, deficits and debt don't matter was the mantra of the supply-siders in the '80s, and it turns our they were right.
[/font]

Oh my god this just gets better and better all the time.

First you say...

If he wasn't neck deep in the supply-side mechanics that exploded the deficits in the 1980s, he might have some credibility.

and then on the heels of that you follow it with this...

Actually, deficits and debt don't matter was the mantra of the supply-siders in the '80s, and it turns our they were right.

Out of one side of your mouth you're praising his "supply-sider" policy.
And out of the other side of your mouth you're saying he has no credibility because he's a "supply-sider".

This makes my head hurt. lol


Jesus Christ, Bob ...

... are you drinking this early?

All I'm saying is that Reagan, as FDR before him, proved that government can spend the economy out of recession, and in the short term, deficits and debt are nothing to worry about.

Stockman should know all of that, but he has a book to sell.

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Pensacola Discussion Forum » Politics » This is a really interesting interview of Reagan's budget director, David Stockman. I hope you'll watch and it give me your reaction.

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