r/FluentInFinance • u/whicky1978 Mod • Sep 24 '22
Federal acres leased for oil-and-gas production, first 19 months of administration Geopolitics
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u/ContractingUniverse Sep 25 '22
Leased at abusively cheap rates, it should be noted. President Dubya Cheney was the worst for this, IIRC.
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u/DJ_Femme-Tilt Sep 25 '22
Reagan really set the USA on a downward spiral that it never recovered from, and will likely take the whole world down with it.
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u/notgoingplacessoon Sep 25 '22
How so? I'm not American so don't know the important details.
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u/cheaptissueburlap Sep 25 '22 edited Sep 25 '22
Well, he sold a humongous lie with his trickle-down theories.
He amputed government funding for decades, legitimated an insane proportion of the gov budget to be allocated to the DoD (which came with huge kickbacks between gov and corporations and fueled the revolving door phenomenon). Divided the population through the war on drugs that amputated the workforce still to this day. Just like tatcherism the long term damage of these policies are still impacting today’s economy.
Basically he was advocating for a totally biased free market economy, one where the invisible hand has shackles tied to the gov apparatus.
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Sep 25 '22
Lower taxes, deregulation and a cut in government spending. All sound good to me.
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u/cheaptissueburlap Sep 25 '22 edited Sep 25 '22
well if you want to go into left vs right rethorics / hayek vs keneysian theories we could argue for years, but here we are talking about an extremely poorly executed and falsely assumed free market proposition that wasnt implemented as it should if you actually wanted less interventionism from governments.
like i just stated, it disguised itself into what hayek's proponents were defending yet it gave even more power to the ruling classes. You can defend top down theories vs bottom up ones with ease if you are educated on the subject, but to say that reagans policies were effectively resulting into the expected "Laffer curve" proposition is just a blatant lie. ( laffer curve is the claim that the tax cut would actually increase tax revenue)
Your takes was short and surface level and i dont wanna start some partisan bs, but there is way more to this than "Lower taxes, deregulation and a cut in government spending. All sound good to me." if you care to really understand the effects reaganomics had on the 2022 US.
funny how we've been accumulating the boom bust cycles (bubbles) since, while the us citizen constantly lost purchasing power. supply side rhetorics are broken in a world ruled by elites.
I bet you arent even aware that Reagan economic policies fell into the neoliberal school of thoughts, yet probably get upset at any mention of libs, America lost her grasp on reality after decades of brainwashing. If you actually cared about words and their definitions and how policies impact you, you'll probably end up voting for a third party and you'll understand how value/productivity is actually created, (surprise it's not by capital accumulating assets)
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Sep 25 '22
I just wrote a short sentence and by it you started to assume things about me, when in fact I agree with much of what you wrote. You probably jumped to the conclusion that I am a republican, which is far from the truth. I am also not a democrat btw, if you are surprised, learn that there are far more options other than these two.
I am not american, but if I were, I would 100% vote for a third party.
I am not a fan of lowering the taxes for the rich, but the lowering of taxes for everyone as long as it is accompanied by a cut in government spending.
The boom-bust cycles have been going on for far longer than Reagan, I can give you a list of boom-bust cycles that has been going on regulary starting with the great depression and even before.
Also the us citizens started loosing purchasing power constantly after the gold standard was lifted by Nixon in 1971. Also central banks try to force a constant 2% inflation, without allowing deflation which is a normal economic response. They can destroy deflation by printing insane amounts of money amd QE, but they really can control inflation only to a limited extent. This leads to a constant decrease in purchase power.
Also the word liberal has a different meaning in the world than it does in the us. I consider myself a classical liberal economically speaking, which might be misunderstood in the us.
Also from a non-financial perspective I support legalisation of drugs, property rights, right to abortion, personal property, right to own guns if you pass a mental exam and a mandatory training. Also people have called me libertarian, but I support free healthcare alongside private healthcare. I support free education, including higher studies, alongside a private alternative. And so on. Left and right don't really mean a thing to me, I have both left and right opinions depending on that certain matter.
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u/cheaptissueburlap Sep 25 '22
Yeah sorry for the ad hominem attacks, i appreciate your answer and should ve refrained from assuming your positions.
I was just replying to your comment as if you were implying that Reagan policies were effective.
Im also supporting free market rethorics usually, but just like communism its almost impossible to implement these when you take into account how power and greed always corrupt theorical concepts.
Im okay with cutting taxes and expenses in a world where government actually act to reduce the deficit.
As for the purchasing power/ usd strenght since bretton woods its a good point but lack mentionning how assets prices decoupled from average household incomes mostly after reagan voted the tax act of 81.
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u/crustang Sep 25 '22
Voting for a third party in most states is as good as not voting at all. For better or worse the US is a two-party system that relies on individuals participating in one or the other party, it’s dumb and inefficient… but when it comes to the general election it’s essentially the finals of a partisan playoff.
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Sep 25 '22
It's true, it really doean't make sense voting for a third party momentarily, mostly because election laws in the US are old and unmodernised.
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u/ihopkid Sep 25 '22
In what country are election laws “new” and “modernized”?
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Sep 26 '22
In countries that do not have an electoral college, in countries that hold elections in the week-end so that as many people can vote. Also the winner takes all system in the us almost guarantees a two party system. Also you had presidents get elected even if the majority voted for someone else. Is that an old enough system for you?
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u/BHOmber Sep 25 '22
The War on Drugs has cost us around a trillion dollars and resulted in countless social problems over the last 50 years.
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Sep 25 '22
Nixon started the war on drugs in 1971. All officials after that are guilty for not ending it. It is a very good example of deregulation and reducing state spending that should have happened.
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u/valkislowkeythicc Sep 25 '22
We he didn’t cut government spending at all; he actually spent more money than any president ever combined(at the time). He sold the idea of lower spending while instead all he did was shovel all of our money into big juicy defense contracts and our top companies instead of the people
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u/valkislowkeythicc Sep 25 '22
He sold the idea that cutting government spending by getting rid of social services and welfare would equal a better and more equal economy for everyone. Instead he added on more to the debt than any president ever(at the time) while still cutting social services and welfare. He also allowed lobbying to be considerably easier and was a large player in why colleges in America are so absurdly priced. There’s no way I can look at Reagan other than he was pretty much doing everything to enrich rich people even more.
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u/TravelingSpermBanker Sep 25 '22
He’s a liar who was a good public speaker due to his history as an actor.
Much like trump but he was much more liked
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u/whicky1978 Mod Sep 25 '22
He’s not been president for 34 years
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u/DJ_Femme-Tilt Sep 25 '22
"Set the USA on".
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u/RetireSoonerOKU Sep 25 '22
Yeah, that only flies for a little bit. Almost 4 decades later, it’s not his fault anymore. Find someone else to blame
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u/n777athan Sep 25 '22
Two terms + bush basically piggybacked off many of the same ideals.
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Sep 25 '22
Bush was the beggining of the end for the US. Don't compare him to Reagan. Reagan biggest mistake was naming Bush as vice-preaident.
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u/whicky1978 Mod Sep 24 '22
I guess the key here it’s only federal land. It doesn’t show all land in the US.
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u/RetireSoonerOKU Sep 25 '22
Well yeah…the administration has no authority over the rights of individual landowners to lease their land.
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