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Varchild2008 (84.30)

I choose "KING Dollar." $ up while Market's Crash

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August 17, 2009 – Comments (7) | RELATED TICKERS: UNH , PFE , CELG

DOLLAR up this morning while Stock Markets worldwide are crashing.   Dollar was going DOWN when we climbed our way to DOW 9000 / S&P 1000 / NASDAQ 2000.

Is this a long term trend?   Everytime the Dollar goes up, we crash?  Everytime it goes down, Markets Skyrocket up?

If so then so what... I choose the DOLLAR!   I am entirely on the long side and this means massive losses in my portfolio.  And yet I don't care.... I choose the DOLLAR!

Even though the Dollar's strength seems unhinged from reality and unhinged from the massive Debt America keeps accelerating month after month.....

We've had massive debt acceleration generated on long term Entitlements under Former President BUSH, Former President CLINTON, Former President "other" BUSH, former President Jimmy Carter, and current president Barrack Hussein Obama.

The only president whose Debt was NOT related to the entitlement society was former president Ronald Reagon.

Liberals rant and rave all day about Reagon's debt... But, at least his debt was SHORT TERM spending related.... It was entirely based on winning the Cold War.... It was military spending.

The difference between Military Spending and Entitlement Spending is that the Military Spending is like going to the store and buying a Microwave.... Sure...It's debt...  But, it's debt that CAN be paid off over time.

ENTITLEMENT Debt like "Prescription Drug Coverage on Medicare" is a debt that accelerates at a pace beyond what is realistically possible to pay off.  It is a form of DEBT that CAN NOT be paid off easily if at all!

I'd rather have the EASY SHORT TERM DEBT of President Ronald over the Mission Impossible Long Term Acclerated Debt of the current Administration's pursuit of Government Run / Managed / Funded Health Care / Welfare / Cap and Tax  Oh My.

7 Comments – Post Your Own

#1) On August 17, 2009 at 9:15 AM, cthomas1017 (37.94) wrote:

You won't find a much bigger advocate of Ronald Reagan's presidency.  But I must take exception with on on the fact that entitlements increased under him as well.  Sad, but true.

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#2) On August 17, 2009 at 1:00 PM, Varchild2008 (84.30) wrote:

Not really... Ronald Reagon did not enact a single new entitlement program.  Not one....

And without Ronald Reagon there never would have been a Republican Revolution resulting in moving Welfare to the States.

So don't tell me "Sad but true" when you can't even name 1 example entitlement program he ever enacted.

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#3) On August 17, 2009 at 1:04 PM, Varchild2008 (84.30) wrote:

P.S.  The only time the Federal Budget (domestic Budget) was ever CUT was under President Ronald Reagon.

The only time the size of Federal Government SHRUNK rather than INCREASED was under President Ronald Reagon who cut 2 departments to include the Education Department.

No other president since can lay claim to that.  NO ONE...

And that is Dollar for Dollar a DECLINE on long term entitlement spending. 

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#4) On August 17, 2009 at 3:08 PM, cthomas1017 (37.94) wrote:

Social Security spending rose from $179 billion in 1981 to $269 billion in 1986. (It when down in1987, but not below $179B.  Inflation adjustments make these figures not so shocking, but they were still up appreciably.)

Farm programs went from $21.4 billion in 1981 to $51.4 billion in 1987, a 140% annual increase. (There was another $4 billion "drought-relief" that came from a 1987 bill Reagan signed in addition to the budgeted spending noted above.)

Medicare spending in 1981 was $43.5 billion; in 1987 it hit $80 billion.

Federal entitlements were $197.1 billion in 1981—and $477 billion in 1987.

Reagan's legacy is in increasing tax reciepts (trickle down does work, especially when you have monetary expanion with a guy like Paul Volker at the helm), in reducing government spending as a percentage of GDP (post 1983), and in winning the cold war despite a hostile, even pro-Soviet Congress.  (If it were up to me, Ted Kennedy would have been shot for treason based on his offer to the KGB to collaborate in an effort to embarrass Reagan and give a leg up to the USSR to the detrement of our own national security.  It's only minimal justice that Teddy's brain cancer is long and painful.  Too bad his casket wasn't the back seat of a flooded Oldsmobile instead of an innocent girl who trusted that poor excuse for a human being.)

Reagan's budgets in his first three years blew the doors off anything even Carter or Ford had done, but he did make up for his first three years.  I do believe that Reagan was too naive about Congressional Democrats wanting what's best for the country.  He did agree to the tax increases based on a reduction in government spending that Tip O'Niel renigged upon.

 If I'm not mistaken, the Federal budget was also cut under Clinton, but  only because of the pressure applied after the 'Pubbies recaptured both Houses with the Contract for America.  (Of which only one of the contract items ever made it to the president's desk, if I recall correctly.

There were some dollar for dollar declines, year to year.  Much entitlement spending shifted to the states as a result of Reagan's visionary legislative proposals.  It certainly belongs there.  Many of the states have made great progress with areas of entitlement spending. (CA is the biggest exception to this, of course.)

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#5) On August 17, 2009 at 3:09 PM, cthomas1017 (37.94) wrote:

PS: Like I said, I'm a HUGE Reagan fan!

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#6) On August 17, 2009 at 8:00 PM, Varchild2008 (84.30) wrote:

And I've yet to see you come up with 1 entitlement... not 1...

You just "Re-hashed" the same old New Deal legislation as if President Reagan invented them.

Uhm... NO......

Prescription Drug Coverage  =  NEW Entitlement invented by former President Bush (younger).

That is what I am talking about!  The New Entitlements...

You know like during CLINTON we had the Mortgage Mandate which created a Credit Mess that we are forever burdoned with.

That's all NEW.

NEW stuff....

The Old Stuff increasing in cost can easily be blamed for Population Growth + Immigration.....  Reagan DID enact amnisty to 100,000 Illegals and that certainly DID spike Social Security, Medicare, etc. costs.

But that's all you can really say.

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#7) On August 17, 2009 at 11:52 PM, cthomas1017 (37.94) wrote:

There's two ways to expand programs - in numbers or in dollars. 

Your original premise was "The only president whose Debt was NOT related to the entitlement society was former president Ronald Reagon."   I took exception to that statement.  There were "sub programs" under farm subsidies, but sorry, I'm not going to go look those up.  There are better uses of both our time than to split those kinds of hairs.

We're more in agreement than it makes sense to be disputing terms. Look forward to your next post.  I'll continue to be a facts watchdog.  ;)

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