Reaganomics vs. Schiffomics

Discussion in 'Economics' started by McFadden5252, Jun 21, 2012.

  1. I have recently read a book on Reaganomics and it caught my attention because I am also currently reading Peter Schiff's book: The Real Crash. The ideas in these books are extremely similar.. Take a look.

    Goals of Reagonomics:
    -Reduce tax rates to put more money back into American's pockets.
    -Reduce Government spending.
    -Support the Federal Reserve's plan to tighten the availability of money and combat inflation
    -Deregulation hoping there will be reduced costs for businesses and consumers
    -Increase interest rates

    Schiff's Cure for our current economy:
    -Deregulate/Slash Government programs
    -Increase interest rates
    -Reduce Government spending/no bailouts
    -Cut taxes
    -Manufacture and Produce more Capital

    Cons of these ideas:
    -Reaganomics led to a recession
    -Reaganomics left a 2 trillion dollar debt
    -Schiff's idea would lead to a recession

    Pros: Reagonomics slashed inflation rates
    1979: 13.3%
    1980: 12.4%
    1981: 8.9%
    1982: 3.9%
    1983: 3.8%

    "Short term pain for a Long Term solution"

    Schiff also says in his book that the medicine would be hard to swallow but you'll feel better in the end.

    I just want people's opinions if these 2 ideas seem extremely similar to them as well.

    Could Schiff have the same cure? Except what Schiff would do differently is slash most government programs, slash college student loans, and end the war. The reason Reaganomics left a 2 trillion dollar deficit was because of all the cutbacks. BUT Reagan himself didn't cut back spending like he planned, he spent trillions on the military(Cold War) and on his Star Wars defense system which never happened.
     
  2. What book on "Reagonomics" are you reading? The word itself is perjorative and highly subjective, more political than economic, a superficial catch all that seeks to conflate political hisory as economic policy. People could disagree about what policies should be described under that label, or if the label should be used to describe a coherent set of economic policies at all.
     
  3. Reaganomics = Socialism on Steroids. He tripled national debt, a feat that even the communist Obama or the socialist Bush has not been able to accomplish.

    I feel sorry for Americans. A choice between The socialist Romney who hates gays, and the socialist Obama who loves gays. And they say it's a democracy.
     
  4. See this is a perfect example of what I am talking about with the use of the term "Reagonomics."....Here we have tradr 3 making an utterly useless and intellectually mangled, moronic political ideological comment parading as 'definition' of the term in a way the description, 'perjorative,' can not really capture.
     
  5. well the above post was completely obnoxious and also rendered useless. Reaganomics was actually given by someone who supported Reagan and was known for catchphrases, etc. Also Reagan was not a socialist. Really? a Socialist? Did you ever do any research in your entire life or just make dumbass remarks?
     
  6. as for the book it is called. Reaganomics in Plain and Simple english. However I did a fact check on the book and everything seems dead on. It is completely unbiased. Some chapters makes you love what Reagan did, and other chapters makes you pissed.
     
  7. Yeah I was wrong to call it reaganomics, I should have called it "what Reagan actually did"

    Reaganomics just like communism is more theory than practice.
     
  8. It has been difficult to increase spending on Defense without giving a blank check to the Democratic Congress.

    It has happened to both Reagan and Bush 2
     
  9. Countries are loaning us their money so we can buy their products. You gotta love that the USA can convince countries to do that.
     
  10. Who was the author of the book and when was it written?
     
    #10     Jun 25, 2012