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Old November 2nd, 2017, 07:37 PM   #21
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Originally Posted by imaginethat View Post
No runaway inflation for President Reagan. He got his hands on the reins just as Volcker's deflationary tactics were taking effect. All the inflation resulting from going off the gold standard plus the winding down the VN War fell right on the shoulders of President Carter, that and the price of oil going through the roof.

And interest rates, the prime was 6.25 percent when Carter took office. It would hit its all time high - 21.50 percent - before Carter left office. Think about that. Think about having a mortgage with a rate in the teens or higher. That little gift from Volcker alone would have doused the fire of any economy.

People who go on and on and on about the bad economy under Carter act plain ignorantly; not too bright. The economic forces mentioned above could have tanked our economy. That didn't happen.

How do you see the Carter years as a negative time for the economy?
No, inflation didn't stop growing until REAGAN cut taxes FOR EVERYONE..

Rich middleclass and poor

Poor dim-o-crats, not a good week for them.
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Old November 2nd, 2017, 07:51 PM   #22
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In your opinion.
Yes, the oil age will end, in my opinion.
Because we extract the cheapest oil and burn it, in extraordinarily large volumes.
And we had a reset of the peak oil timeline by new technology, but that just moved the curve, it didn't change the big picture.
If you burn off something faster than it is being created, it will go away.
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Old November 2nd, 2017, 08:01 PM   #23
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No, inflation didn't stop growing until REAGAN cut taxes FOR EVERYONE..

Rich middleclass and poor

Poor dim-o-crats, not a good week for them.
Inflation, TN, inflation isn't controlled by giving people more disposable income.
In the year after enactment of ERTA, the deficit ballooned, which in turn, drove interest rates from around 12% to over 20%, which, in turn, drove the economy into the second dip of the 1978-82 "double dip recession". The Dow Jones average, which had been over 1000 before enactment of ERTA, fell to 770 by September 1982. Much of the 1981 ERTA was backed out in September 1982 by the Tax Equity and Fiscal Responsibility Act of 1982 (TEFRA), sometimes called the largest tax increase of the post-war period. The "Reagan recovery" began within weeks of enactment of TEFRA.
https://en.wikipedia.org/wiki/Econom...ax_Act_of_1981

Inflation didn't stop growing until REAGAN raised taxes FOR EVERYONE.
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Old November 2nd, 2017, 08:09 PM   #24
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Peak oil is real, it just got pushed out into the future by improved drilling technology, especially fracking coupled with horizontal drilling.
However much oil it appears we have, we burn it off.
OTOH, the stone age didn't end because they ran out of stone, and the oil age won't end because they run out of oil, but it will end.
I'm aware of that goober. Back in the early-2000s, people were predicting we'd be in dire straits by now.

Fracking or no, petroleum is still a finite resource even if, as some who consider themselves in the know believe, the earth is continuously making hydrocarbons through purely geologic processes.

Oh, and the Apollo program was faked.
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Old November 2nd, 2017, 08:33 PM   #25
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I'm aware of that goober. Back in the early-2000s, people were predicting we'd be in dire straits by now.

Fracking or no, petroleum is still a finite resource even if, as some who consider themselves in the know believe, the earth is continuously making hydrocarbons through purely geologic processes.

Oh, and the Apollo program was faked.
The peek oil meme was created by the oil companies just as the "oil comes from dinosaurs" myth to over inflate the sence of scarcity, drive prices up and push the petro dollar into the global market.
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Old November 3rd, 2017, 03:53 AM   #26
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Inflation, TN, inflation isn't controlled by giving people more disposable income.
In the year after enactment of ERTA, the deficit ballooned, which in turn, drove interest rates from around 12% to over 20%, which, in turn, drove the economy into the second dip of the 1978-82 "double dip recession". The Dow Jones average, which had been over 1000 before enactment of ERTA, fell to 770 by September 1982. Much of the 1981 ERTA was backed out in September 1982 by the Tax Equity and Fiscal Responsibility Act of 1982 (TEFRA), sometimes called the largest tax increase of the post-war period. The "Reagan recovery" began within weeks of enactment of TEFRA.
https://en.wikipedia.org/wiki/Econom...ax_Act_of_1981

Inflation didn't stop growing until REAGAN raised taxes FOR EVERYONE.
No it is controlled by LOWERING THE COST OF PRODUCTION.

wait, if you lower the tax burden this will LOWER the cost of PRODUCTION.

It cost me more to produce I have to charge more, the trucking company has to charge more to deliver the higher the cost to transportation the cost of the product transportation and the retail process sets the price of what the store has to charge plus their profit on the sale.


And REAGAN didn't raise taxes on anyone, the tax burden in 1988 was less than the tax burden in 1980.

28 is < 70, (plus people's incomes increased and his plan ended "Bracket Creep"

prior to the Reagan cuts when people's income increased their raise was eaten because their raise was swallowed by the increased tax rate they moved to a higher bracket.

Last edited by TNVolunteer73; November 3rd, 2017 at 03:56 AM.
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Old November 3rd, 2017, 04:43 AM   #27
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The peek oil meme was created by the oil companies just as the "oil comes from dinosaurs" myth to over inflate the sence of scarcity, drive prices up and push the petro dollar into the global market.
Keep going Troll Boy, someone almost thought you might know something....you put them straight.
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Old November 3rd, 2017, 05:49 AM   #28
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The peek oil meme was created by the oil companies just as the "oil comes from dinosaurs" myth to over inflate the sence of scarcity, drive prices up and push the petro dollar into the global market.
US oil production is near all-time levels.



It's amazing, not sustainable for long but still amazing.

Safe to say, no scientists maintain oil comes from dinosaurs, but coal definitely comes from plants, huge veins sometimes, all over the world. Oil is harder to pin down. Microscopic life seems most likely.

Driving the cost of oil upwards opened huge tracts to fracking and horizontal drilling. It's such irony. The resulting oil boom has kept prices reasonable.

Like goober said, peak oil hasn't been sidestepped. It's been postponed, and likely for a while.
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Old November 3rd, 2017, 05:55 AM   #29
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No it is controlled by LOWERING THE COST OF PRODUCTION.

wait, if you lower the tax burden this will LOWER the cost of PRODUCTION.

It cost me more to produce I have to charge more, the trucking company has to charge more to deliver the higher the cost to transportation the cost of the product transportation and the retail process sets the price of what the store has to charge plus their profit on the sale.


And REAGAN didn't raise taxes on anyone, the tax burden in 1988 was less than the tax burden in 1980.

28 is < 70, (plus people's incomes increased and his plan ended "Bracket Creep"

prior to the Reagan cuts when people's income increased their raise was eaten because their raise was swallowed by the increased tax rate they moved to a higher bracket.
Maybe larger print will help:
Much of the 1981 ERTA was backed out in September 1982 by the Tax Equity and Fiscal Responsibility Act of 1982 (TEFRA), sometimes called the largest tax increase of the post-war period. The "Reagan recovery" began within weeks of enactment of TEFRA.
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Old November 3rd, 2017, 06:01 AM   #30
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Maybe larger print will help:
Much of the 1981 ERTA was backed out in September 1982 by the Tax Equity and Fiscal Responsibility Act of 1982 (TEFRA), sometimes called the largest tax increase of the post-war period. The "Reagan recovery" began within weeks of enactment of TEFRA.
once again the OVERAL TAX BURDEN WAS CUT.

Reagan did raise some taxes cut other taxes but the sum total was a TAX CUT FOR EVERYONE.

https://www.jec.senate.gov/public/_c...april-1996.pdf.
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