R.I.P. Reaganomics Revolution: 1981-2011: Like the Roaring Twenties, ending in a crash

[marmar]

By Paul B. Farrell, MarketWatch


SAN LUIS OBISPO, Calif. (MarketWatch) — The 30-year Reaganomics Revolution will be over soon. Like the Roaring Twenties, ending in the game changing crash. Though more than 80 years apart, they share a common theme song of irrational exuberance: “I’m Forever Blowing Bubbles.”

Many bubbles, now merging like tornadoes, in a perfect storm, a megabubble itching to blow, signaling the end of the ego-centered Reaganomics Revolution, which must, unfortunately, also take down America’s markets, economy and monetary system.

Yes, folks, that one song captures the collective mind-set of both the Roaring Twenties and the Reaganomics Revolution: “Forever blowing bubbles. Pretty bubbles in the air. Dreaming dreams. Scheming schemes. Building castles in the sky. Fortune’s always hiding. I’ve looked everywhere. Forever blowing bubbles. They fly so high, nearly reach the sky. Then like my dreams they fade and die.”

Then … like our dreams … they fade … and die. Nearly a century ago the bubbles popped in the Crash of 1929. Then the bubbly went flat during the long Great Depression. It repeats with the Reaganomics Revolution’s endless “pretty bubbles.” For a generation we have watched the damage created by a selfish ideology: The S&L disaster. Dot-com crash. Wars. Subprime meltdown. Great Recession. And, yes, there’s more to come, more “pretty bubbles.” ...................(more)

The complete piece is at: http://www.marketwatch.com/story/rip-reaganomics-revolution-1981-2011-2011-05-31

[no_hypocrisy]

1. It's not over yet.

Congress hasn't and likely won't pass reform forcommercial and investment banks and Wall Street. The elements that allowed us to this last series of bubbles still exist. The only thing that prevents the same magnitude is there's less money to take away from us in the lesser-than-upper-middle-class.

[Demeter]

3. Too Many Rules Were Changed or Eliminated

Until the structure of government reverts to something enforceable and conformable to the Constitution, and the government upholds those rules, we can't make a recovery.

[liberal N proud]

2. No rejoice until it has had its last gasp

Then only mourning the victims of its wrath.

[bemildred]

4. Actually, it's crashed half a dozen times since 1981.

It's an inherently unstable economic regime, as history richly demonstrates. If you want stability, you have to have regulatory mechanisms that work.

[xchrom]

5. recommend

[bvar22]

6. Paulson & Co-Workers, re-inflating The Wall Street Bubble.

Should be good for one more Smash & Grab,
especially since nobody in Washington (except the Far Left Wing Wackos) was interested in re-imposing effective regulations.

Now THIS is "Bi-partisanship"!
Better get Used to It!
Hahahahahahahahaha!

[Bill USA]

7. you realize in the Coporate Media you are excommunicated if you even hint at this.

2008 wasn't a Trickle Down Disaster. It wasn't a Deregulation Debacle. In fact, history began when Obama took office. Nothing that happended before that date had anything to do with where we are now.

REcommended!

[MyshkinCommaPrince]

8. One can hope.

It's always good when people wake up and stop believing harmful nonsense. But it also looks like the damage has been done. It may no longer matter what people believe or support. So much real power has been handed over to the multinational corporations and the über-wealthy. I'm afraid they've barely shown us how much they really control and how little concern they have or need to have for what populations or voters may or may not want and support. :scared:

Sorry for the negativity and paranoia. I hope I'm wrong.

[GeorgeGist]

9. Premature ending.

Don't you think?