Yves Smith on Reagan Centenary: Reaganomics Was Pro Business, Not Pro "Free Market"

President Reagan broke unions and intervened in the market when big business required it

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News & Politics

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• ronald reagan
• reaganomics
• unions
• Yves Smith
• reagan centenary
• the real news
• real news
• free market

[getplaning]

The second program was the National Security Council's Special Planning Group for Public Diplomacy. This was run by CIA propaganda veteran Walter Raymond. What began as an attempt to gain the public's support for funding right wing militant groups in Central America grew into a powerful force for lying to the American public that continues to this day. This information infrastructure is how we are seeing history rewritten to propagate the Reagan myth. And it is a myth.

[Wrenchbender412i]

@bertly71 That's the popular narrative but it is completely wrong. The Soviet Union was collapsing under the weight of its own corruption. Reagan's intelligence analysts were taken completely by surprise when it happened, so they don't get credit.

Reagan's economic policies were a boom to the wealthy. Everyone else has seen their incomes and their standard of living decline.

[polymath1944]

Reagan was not only a union basher who had contempt for the working class, he tripled the national debt during his two terms. This profligacy was acomplished primarily by military spending and massive tax concessions to big business and the wealthy. He was also dumber than a sack of ball peen hammers. The S & L crisis and the Iran Contra debacle were especially shameful and disgraceful

[ISamuelII]

@anonymoose711 "a few basic changes to the system will extend SSI solvency decades even further into the future."

For one, pay back what was taken and replaced with IOUs. When they start reporting of this clowns real nature and theft of liberties etc, I'll finally realize the crooks have all died off. I know justice will not be removing them.

[ISamuelII]

@swankrecords Nancy swallowed them. She had a rep for Thee Bestest Head in Hollywood.

[ISamuelII]

@CWA12 And he increased the organized criminal police state a thousand fold with his fisr ever "Drug Czar". The ninth amendment demands all intoxicants be legalized over the counter products and Reagan did just the opposite. Of course he should be known for inventing Crack Cocaine through Olly Norths sever cut put into his kilos. That crap couldn't be sold on the street until free based.

[Lexman00]

Good interview Paul, and keep up the good work. The Real News is the best place to increase my knowledge.

[bertly71]

@anonymoose711 I guess that 14 trillion dollar debt number means that we aren't broke yet? You and I live in two different political realities. I respect your opinions even though I do not agree with them. Peace be with you.

[anonymoose711]

@bertly71 - You've mischaracterized the facts. Your source says SSI may go into the red next year, but it's decades from going bankrupt. There is a significant difference. Furthermore, economists inform us that a few basic changes to the system will extend SSI solvency decades even further into the future.

[bertly71]

@anonymoose711 The United States Bureau of the treasury website. All the numbers are there for your inspection.

[anonymoose711]

@bertly71 - Again, cite the source of your claim.

[bertly71]

@petersz98 I admit Reagan spent too much. I agree with your assessment of where the UK and Europe are. When you look at the graphs and the Treasury website regarding spending here. Record amounts have been spent in the last four years. The blame for our current rut being as deep as it is lies with Bush 2, Obama, and the congresses under them. Those are statistical facts. Spending is our whole problem here. The bailouts to the banks, IMF, and stealth bailouts greatly increased our debt.