Ronald Reagan set the precedent first by embracing the Full Employment act of 1978 – which changed the economy from free market…. to planned. Since that time, the rich have done the planning. All administrations since have followed Reagan’s lead. It has been nothing but deficit spending and money printing ever since. The rise of the government -made billionaires followed.
Ronald Reagan was the first president to tamper with the financial markets following the crash of 1987.
Ronald Reagan’s programs have been followed by the creation of the huge wealth gap we have today. It was about normal when he took office. Even today, after all of the damage done, Reagan is still held out as the perfect icon of a conservative.
In 2006, Mention was made of revitalizing the plunge – protection team, to gauge public reaction. No reaction – so Henry Paulson was appointed treasury secretary. The asset enhancement initiative had been bolstered and stock price manipulation rose to a new level.
The “Wall Street Bailout” of 2008 transferred countless dollars from the bottom of the food chain to the top. In 2020, with the CoronaVirus, what amounts to a wartime economy was imposed on the public. This opportunity transferred even more billions of dollars to the top.
QE and other loose money interventions artificially elevated profit margins for corporations.
Americans, highly trained to promote their own poverty, fully support management of the economy. Citizens think presidents have magical power over the economy. Citizens now expect a new government program to fix inflation.
This is what has caused all of the inequalities. Returning to the free market system is the only path to improvement.
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