Reaganomics brought us a false sense of prosperity built on debt and ...

[egbertowillies]

As Reaganomics transferred America's wealth to the top as wages stagnated, the economy kept humming because Americans supplemented their spending power with easy credit card debt, consumer debt.

https://egbertowillies.com/2019/05/13/reaganomics-brought-us-a-false-sense-of-prosperity-built-on-debt/

[CentralMass]

1. K&R

[FakeNoose]

2. The American Middle Class has been dying a slow death from Reaganomics

[SWBTATTReg]

3. Easy debt doesn't mean you should borrow the money. Blame stagnant wages since ...

the 1980s, if you want to pinpoint the reason this prosperity was false (and people borrowed in excess) when they couldn't afford it.

[egbertowillies]

4. You are absolutely correct in the abstract. That said there were many forces

preying on both human need and human vanity. And the powers paid advertisers well to hit the proper sections of our brains.

[SWBTATTReg]

5. Yes. Billions of dollars spent by advertisers to get us to buy constantly. What happens when...

the money runs out? Increased debt to maintain lifestyles. This is backfiring on consumers unfortunately as prices keep increasing, wages are mostly stagnant, interest rates are somewhat creeping up, and the stock market has pretty well been where it is at for some time. The China / US rump spat is going to cost us big time both directions, sales of our goods imported to China goes down, layoffs, etc., and sales of Chinese stuff will be more expensive, we pay the bills both ways.

[earthshine]

6. "Reagan proved that deficits don't matter" -- Cheney

Unless you are a grifter, any way you look at it, it's patently false.