Comments by "L.W. Paradis" (@l.w.paradis2108) on "Jeff Bezos CLAPS BACK At Biden For Saying Inflation Is Corporations’ Fault" video.

@bullmoose5574 WHAT recessions? The 1981-82 recession was the worst since the Great Depression, and was only beat in 2008, over a generation later. It was deliberately created. What's even worse is that Reagan got us to think that's normal, and to sneer at those dislocated. Reagan made Rust Belt destruction of manufacturing inevitable, and accelerated it. How did Germany and Sweden escape that fate? After 1982, we did not have another official recession in the 1980s, but local conditions were recessionary in much of the country, like in the Midwest. He started us on the divisive path.
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@capttrips1523 Tell yourself any story you want. It's your birthright to command facts. "Everyone knows" fact aren't objective. Bowing to so-called facts is for wimps.
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@tracybarhite1764 You're entitled to your own facts. I know better than to try to get in your way.
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"Bashed," Robbie? They've been government subsidized since birth. 😉
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Exactly how is deficit spending not a factor in raising the risk of inflation? Sure, Biden is simplistic and misleading, as usual. But rather than having major corporations pay taxes, they buy T bonds and we pay them interest.
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@bullmoose5574 Reagan? The man who gave us taxation of Social Security benefits, the only guaranteed defined-benefit pension program all working people have? That guy?
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@bullmoose5574 You believe Social Security is ending? Now we know your level of political sophistication. Here's a self-interest clue you might pick up on: if your family pays off a mortgage, you'll inherit more if they don't have to take out home equity loans or reverse mortgages. You get that, right?
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@bullmoose5574 One of your replies was shadowed.
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@bullmoose5574 The average "baby boomer" did not see great growth in wages relative to productivity. A PMC was created, giving about 10 to 15% of families great affluence and leaving the rest behind. Compare mean net worth and mean annual income with the median of each, by year. See what you think. The US post-WWII and before Reagan was a country where being in the top three quintiles was a good life, and the fourth quintile had hope of rising. But he sold you image in place of reality. You're still eating that.
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@bullmoose5574 If you think more than 10% of people (if that) could possibly fund their own retirement, you must have bought a castle on the moon. We will not have tent cities of 80 year olds, or public housing for them. Social Security will be shored up, absolutely. The 401(k) and the IRA have been around for decades and are not working as planned. They do not generate reliable income streams. If your parents don't have a condo or something, looks like you need to plan on having them move in with you. Then you'll hope their taxes are lower. Oh wait. You think Baby Boomers cleaned up! You should be mad at the people who lied to you. They deserve your ire.
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@Mike-In-O-Town Too bad there's so much censorship, or you'd know it's right. Oh well, thank Alphabet.
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@capttrips1523 Everyone knows the drastic inflation reduction policies Reagan adopted immediately caused the recession. No one denies that.
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@tracybarhite1764 I did before I wrote my post. There was a stagnant economy and rapidly rising inflation under Carter, which Carter refused to stem via harsh federal reserve policy, knowing it was necessary to control inflation but also knowing the economy was extremely fragile, and likely to go into recession in 1981 no matter what he did. Before Reagan, avoiding severe unemployment and deindustrialization were the top priorities, and some inflation was considered tolerable. After Reagan, precisely the opposite macroeconomic policies were pursued.
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@tracybarhite1764 IOW, I know you're wrong. 🤣
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@tracybarhite1764 Now I know what you're talking about. It's debatable whether the two quarter downturn in 1980 was a recession; technically, two quarters is a recession, so yes. That ended June 30, 1980. The Reagan recession lasted nearly 18 months, without a recovery in the industrial Midwest at all, while the rest of the economy grew. IOW, a real recession with a technical recovery at that point. And it was the most severe and life-changing recession to occur before the so-called Great Recession. If you found something else, consider your source -- maybe it's propaganda.
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@tracybarhite1764 I went through it personally as well.
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@tracybarhite1764 As for the recession of the early nineties, that one was objectively worse on the coasts, but the aftereffects and the memory of the previous recession was so strong in the Midwest that pessimism and a reluctance to hire or to start businesses was greater there, even though the economy was in fact not as bad. From a psychological standpoint, the coasts, especially California, snapped out of it faster. The coasts and the heartland have grown apart culturally ever since.
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@tracybarhite1764 Just curious: why did the US deindustrialize? Germany didn't, and it's not as though their cost of living, and hence their labor costs, are competitive with, say, China's.
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