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**tramadolwithall** · 10-02-2011, 01:39 PM

Forplay- you missed my point. Reagan was elected in 1980, and was president for most of the decade of the 1980's. People with savings accounts got the benefit of compound interest at 10% during his terms, and it was a real addition to their net worth, nearly doubling their balances. With Bernanke now, at close to 0% interest, not only is there no incentive to save or for small community banks to make loans, there is no income from existing savings accounts.

Reagan was popular because he was a fatherly, soft-spoken actor. He didn't do what he promised in a lot of ways- he really raised taxes and tripled the national debt in an arms race with the USSR. But that bankrupted the Soviets and destroyed their union, which history judges to be a good thing. By not using the fed to fool around with the economy, a lot of people gained personal wealth while he was in office.

10-02-2011, 01:39 PM	#30
tramadolwithall Join Date Oct 2005 Posts 446 Senior Member	Forplay- you missed my point. Reagan was elected in 1980, and was president for most of the decade of the 1980's. People with savings accounts got the benefit of compound interest at 10% during his terms, and it was a real addition to their net worth, nearly doubling their balances. With Bernanke now, at close to 0% interest, not only is there no incentive to save or for small community banks to make loans, there is no income from existing savings accounts. Reagan was popular because he was a fatherly, soft-spoken actor. He didn't do what he promised in a lot of ways- he really raised taxes and tripled the national debt in an arms race with the USSR. But that bankrupted the Soviets and destroyed their union, which history judges to be a good thing. By not using the fed to fool around with the economy, a lot of people gained personal wealth while he was in office.
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