Saturday, March 14, 2009

An Economy Thing from Dec 2008: Thom Hartmann, "This is an Absolute Consequence of Reaganomics"

I meant to post this a while back, but better late than never, I suppose. I just like the way Thom Hartmann explains it:
David what he needs to do immediately is read Alexander Hamilton's 1791 report to Congress on manufactures. Hamilton laid out this six step plan to build an industrial economy in the United States and we followed it. We, Congress actually put into place in 1792 and it stood until Ronald Reagan came along and started deconstructing this, followed by George Herbert Walker Bush, Bill Clinton and George Bush now and the legislatures, mostly pushed by the Republicans taking this thing apart. You could argue some of this started with Taft-Hartley. But basically the founders laid this thing out. They had it figured out and it worked. We built the biggest industrial infrastructure and industrial economy in the world.

We have gone, when Reagan came into office we were the largest exporter of manufactured goods and the largest importer of raw materials on the planet. And the largest creditor. More people owed us money than anybody else in the world. Now just twenty eight years later we're the largest importer of finished goods, manufactured goods, exporter of raw materials which is kind of the definition of a third world nation and we're the most in debt of any country in the world. This is the absolute consequence of Reaganomics.
Fast-forward the video to 4:13:


Grandpa Eddie said...

Reaganomics was the beginning of the end of the 'American Dream'.
Reagan's whole plan was to move our country away from what the founding fathers dreamed this country could be to a Fascist State which the Rethuglicans truly desire. They are following Mussolini's doctrine of Fascism.

nunya said...

El Salvador finally defeats Reagan


Mike of the North said...

What's really wild is this assessment of what was done to the solid "conservative" principles that the country was founded and developed on was aired on a "liberal/progressive" network.

Jus' shows to go 'ya what goes around comes around.

How can the majority of repukes be so ignorant?

Watch 'n Wait said...

Hi Shea...Off topic here, but thanks for the "Wow" on my Seaport Village post. :)) What blew me away was that the napkin filching guy was a perfectly presentable guy and in no way a homeless guy. People are such a kick, aren't they? Fascinating critters. Was neat to see you comment! Thanks much...