This in a nutshell.....

Superfreak said:
Double digit inflation, high unemployment, low growth... stagnation. To say it is not the same is certainly true. They were different types of crisis. But to pretend that wasn't as bad shows your lack of understanding of the times.
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Reagan didn't inherit a recession. Obama did. The worst since the Great Depression. In fact, the economy in q4 2008 was the worst quarter of contraction of the economy since 1957 (I believe).
 
Dungheap said:
Reagan didn't inherit a recession. Obama did. The worst since the Great Depression. In fact, the economy in q4 2008 was the worst quarter of contraction of the economy since 1957 (I believe).
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And Obama inherited a worse economy from himself ;)

The poor negro just couldn't get a break could he?
 
I always love when I see SF bullshitting away, really getting into shoveling the horseshit, and then you see DH's name pop up on the thread in the main section. I always imagine SF going "Oh shit"
 
Dungheap said:
Reagan didn't inherit a recession. Obama did. The worst since the Great Depression. In fact, the economy in q4 2008 was the worst quarter of contraction of the economy since 1957 (I believe).
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Yeah, he inherited double digit inflation, double digit interest rates, 9.5% unemployment... it was peachy.
 
Darla said:
I always love when I see SF bullshitting away, really getting into shoveling the horseshit, and then you see DH's name pop up on the thread in the main section. I always imagine SF going "Oh shit"
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That is because you live in a little fantasy world. I am going way out on a limb and will predict you won't say what it is that you think is bullshit/horseshit???
 
Superfreak said:
Yeah, he inherited double digit inflation, double digit interest rates, 9.5% unemployment... it was peachy.
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I didn't say it was peachy. I said the economy was not in recession and was not as bad as what Obama inherited. And unemployment was at 7.5% in January 1981, not 9.5%. Unemployment didn't get reach 9.5% until well into 1982. Yes, inflation was high but that's why interest rates were high and increasing. Fiscal policy makers hve tools to combat high inflation -- increasing interest rates. Obama inherited deflation and fiscal policy with few tools to combat it because interest rates were at zero already.
 
Superfreak said:
Just going to stop you right there. Once again, the above is a straw man. I said Reagan inherited an economic mess... not a technical recession.

Do you ever tire of creating straw men?
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I'm not creating a strawman. I'm stating facts and making a comprison. We're discussing which newly elected president inherited worse economic conditions. Obama inherited a recession. Reagan did not. Thus, Obama inherited a worse economy than Reagan.
 
Superfreak said:
As I stated, you clearly have no recollection of what it was like in the late 70's/early 80's. As I said, it was a different kind of crisis... they are not the same... but to pretend one was not as hard as the other simply because that is what fits your narrative is what is actually silly.
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ROTFLMAO.... talk to any serious economist, they will laugh at your claim.
 
Superfreak said:
Lets ignore every other President for a moment. On what grounds would you put Obama above Clinton?
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Passage of seriously needed healthcare reform. There are others but that is the big one, Clinton tried and failed.

Secondary, Obama repealed DADT, Obama allowed for the verdict regarding DOMA by not fighting it in the S.Ct (Clinton signed it).
 
Superfreak said:
Just going to stop you right there. Once again, the above is a straw man. I said Reagan inherited an economic mess... not a technical recession.

Do you ever tire of creating straw men?
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Yes but Obama inherited a full fledged recession, the second worse in American History. Reagan inherited NO recession.
 
Dungheap said:
I'm not creating a strawman. I'm stating facts and making a comprison.
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When you say 'actually Reagan did not inherit a recession' when quoting me, you are implying that I stated he had inherited a recession. That is a straw man. You are deliberately misstating my position, so that you can knock down your little straw man.

We're discussing which newly elected president inherited worse economic conditions. Obama inherited a recession. Reagan did not. Thus, Obama inherited a worse economy than Reagan.
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No, that is not the case. Reagan inherited double digit inflation, double digit interest rates and unemployment at 7.5%. He had to do something to correct that situation that Carter stuck him with. Which is why he had Volcker crush inflation by jacking up interest rates, which led to a recession. Just because the recession began after Reagan took office, doesn't mean the economy he inherited wasn't as bad. The nightmare of the Carter era took two years to pull out of. Obama still hasn't managed to get unemployment back down after 4.5 years in office.

The markets were rebounding about a month after Obama took office, the economy was already hitting bottom and coming back. Then he prolonged it with his liberal spending spree.
 
Jarod said:
Yes but Obama inherited a full fledged recession, the second worse in American History. Reagan inherited NO recession.
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The economy was already rebounding a month after he took office. Are you going to pretend his policies were responsible for that?

Again, the only reason that a recession wasn't under way when Reagan took office is because Carter wouldn't let Volcker crush inflation because he wanted to get re-elected.
 
Superfreak said:
When you say 'actually Reagan did not inherit a recession' when quoting me, you are implying that I stated he had inherited a recession. That is a straw man. You are deliberately misstating my position, so that you can knock down your little straw man.
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I wasn't restating anything you wrote at all. I was simply responding to your post and pointing out that the growing economy that Reagan inherited was not as bad as the sharply contracting economy Obama inherited.

This is pretty basic stuff, SF.


No, that is not the case. Reagan inherited double digit inflation, double digit interest rates and unemployment at 7.5%. He had to do something to correct that situation that Carter stuck him with. Which is why he had Volcker crush inflation by jacking up interest rates, which led to a recession. Just because the recession began after Reagan took office, doesn't mean the economy he inherited wasn't as bad. The nightmare of the Carter era took two years to pull out of. Obama still hasn't managed to get unemployment back down after 4.5 years in office.

The markets were rebounding about a month after Obama took office, the economy was already hitting bottom and coming back. Then he prolonged it with his liberal spending spree.
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I think it's hilarious that you credit Reagan for Volker's policies. And like I said in a post that you ignored, the problems that Obama inherited were drastically different from those that Reagan inherited and Reagan had the benefit of both fiscal and monetary policies combatting them while Obama has had very little on the monetary side (rates already at zero) and spending cuts on the fiscal side constraining growth rather than promoting it.

And I'm on my phone now so I can't correct your factual misstatements, but there are quite a few in there.
 
Dungheap said:
I wasn't restating anything you wrote at all. I was simply responding to your post and pointing out that the growing economy that Reagan inherited was not as bad as the sharply contracting economy Obama inherited.

This is pretty basic stuff, SF.





I think it's hilarious that you credit Reagan for Volker's policies. And like I said in a post that you ignored, the problems that Obama inherited were drastically different from those that Reagan inherited and Reagan had the benefit of both fiscal and monetary policies combatting them while Obama has had very little on the monetary side (rates already at zero) and spending cuts on the fiscal side constraining growth rather than promoting it.

And I'm on my phone now so I can't correct your factual misstatements, but there are quite a few in there.
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Whaa? SF not factually correct? Say it aint so! :whoa:
 
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