18 Feb 2014 5:54 pm
You may not believe it, but Reaganomics actually involves deficit reduction, which obviously did not happen. It also involves cuts in marginal tax rates, tightened monetary policy to control inflation and reduction in regulations.Cannonpointer » 18 Feb 2014 5:17 pm » wrote:
What would that be - massive borrowing until an inevitable collapse?
I can tell you this - the deregulation of wall street has certainly been implemented, to the great disadvantage of the working and middle classes.
Reagan only managed to accomplish one of those goals. Reaganomics was never implemented in the United States, or anywhere for that matter.
Now that you mention it, I do work in Wall Street and as far as I can remember, the financial industry was heavily regulated. At least since the passage of the Patriot Act, which increased government intrusion in the financial sector for the purposes of catching money laundering from terrorist activity and suspect income.
Anything out of the ordinary, I am required to report it to the SEC, who in turn reports said activity to Homeland Security/IRS/CIA/FBI/ETC.