Mmathews1Dec 16, 2022
Robert Reich

In case anyone needed a reminder, the Republican Party’s economic record is atrocious. All but four of the last 17 recessions over the past century have come under Republican presidents.

The idea that the GOP is some force of economic strength is absurd.

Dec 16, 2022 at 11:35pmWeb
Show threadSaint EddieDec 16, 2022
@rbreich aye
Show threadkaffandoDec 16, 2022
@rbreich
Also see:
- all Right Wing governments across the world
Show threadSex Crazed SaltShaker of DeathDec 16, 2022
@rbreich But how many billionaires were created during the republican administrations?
Show threadChrisDec 16, 2022
@rbreich I don’t understand why anyone would vote Republican. But it’s a religion, and there’s no place for logical reasoning in religion.
Show threadTyler McGeeDec 16, 2022

@rbreich Waiting for more people to realize…

Democrats bring good times.
Good times bring Republicans.
Republicans bring bad times.
Bad times bring Democrats.

And repeat. 🔁

Show threadRiley S. FaelanDec 16, 2022

@rbreich: The catch is, the particular kind of zillionaire donors, the moles in my Fancy Tale of Quantum Pandanomics, who keep funding the most egregious GOPniks, actually like it when the economy is shrinking, because it gives them more power of the micromanaging-poor-people kind.

IOW, Causing recessions can be viewed as implementing the crappy policies that the Koch brothers implicitly want. (Especially because it often happens as a result of implementing the crappy policies that the Koch brothers explicitly want.)

Show threadDan Hugo (雨果丹)(แดน)Dec 16, 2022
@rbreich Do recessions occur due to events that can be constrained to the particular Republican president for these 17, or were economic conditions part of a general momentum, possibly beginning in a previous term?
Show threadPeter BrownDec 17, 2022
@DanHugo @rbreich
Austerity for the many and cornucopia for the few has been part of worldwide governmental economic policy since the end of WW1. Interest rate rises, inflation, high unemployment and little or no safety net has been the norm. No reason why it has to be that way but the current occupiers of seats of power prefer to keep,it that way. Economic misinformation has been an industry for decades.
Show threadBrent TysonDec 17, 2022
@rbreich @DanHugo contrary to popular belief, the US is not the centre of the universe. Most recessions a global. Correlation does not equal causation - logic 101.
Show threadDan Hugo (雨果丹)(แดน)Dec 17, 2022

@BrentTyson @rbreich

That was sort of my point (expounded, well done). So the GOP-lead US is not… and there is more to all of it.

Show threadStargeezer SmithDec 16, 2022
@rbreich
When does the rumor of Republican economic competence move from absurd to blasphemy.
Show threadKev AdamsDec 16, 2022
@rbreich
Same thing happens in the UK. Slowest economic recovery in the G7 under a Conservative Government, still they lie with impunity. Which is the only thing they’re actually good at!
Show threadBMcEwanDec 16, 2022
@rbreich We all know it. The real issue is, what do we do about it?
Show threadCat PowerDec 16, 2022
@rbreich they constantly talk about balancing the budget. Is that even a feasible goal?
Show threadRJLegaultDec 17, 2022

@catpower @rbreich it was done once in the US and was a disaster

https://www.history.com/this-day-in-history/andrew-jackson-national-debt-reaches-zero-dollars

The U.S. national debt reaches $0 for the first time

On January 8, 1835, President Andrew Jackson achieves his goal of entirely paying off the United States’ national debt. It was the only time in U.S. history that the national debt stood at zero, and it precipitated one of the worst financial crises in American history. The elimination of the national debt was both a […]

HISTORY
Show threadCat PowerDec 17, 2022
@rjlegault @rbreich Wow, thank you for this. I had no idea. If this was the bird site, I would have been attacked and ridiculed for even asking.
Show threadRJLegaultDec 17, 2022
@catpower @rbreich Federal deficits are private sector surpluses, largely. See #MMT for why deficits don't, by themselves, matter.
Show threaddwayne johnsonDec 17, 2022
@rbreich
Amen!
Show threadJoeChipDec 17, 2022
@rbreich
I know Democrats who still brag about Clinton reducing the deficit.
Show threadWant2CruiseDec 17, 2022
@rbreich
I know. So why is it people (voters) don’t seem to know this?
Dems need to figure out how to message. They do a lousy job at communicating with the public. It’s so frustrating!
Show threadRuscular3DDec 17, 2022
@rbreich Basically skipping out paying the bill for a free lunch!
Show threadZeze22Dec 17, 2022
@rbreich I’m terrified the house will tank our economy as a political strategy for 2024
Show threadMastoDanDec 17, 2022
@rbreich Also, it should be said, since Ronald Reagan, every single Republican President has grown the Debt faster than they grew GDP. Debt/GDP has grown under Reagan, GHW Bush, GW Bush, and Trump.
Show threadLee KatherineDec 17, 2022
@rbreich Republicans are unfortunately better at messaging than Democrats.
Show threadmoresandwichesDec 17, 2022
@rbreich They’re bad at money and they’re bad at keeping people safe. We’ve got to correct their reputation.
Show threadJeff Gibbard Dec 17, 2022
@rbreich I feel like saying 13 of the last 17 is a more effective frame for that fact.
Show threadHistoryisimportantDec 17, 2022
@rbreich especially considering how they are wasting our tax dollars fighting elections
Show threadPete MDec 17, 2022
@rbreich genuinely curious as to when those recessions came in each of those terms. Usually what happens in the first year to 18 months of a term is the product of the previous admin’s policies just coming out, and the new admin is riding the wave or trying to prepare to deal with the fallout.
Show threadBernie Luckily Does ItDec 17, 2022
@rbreich It takes a lot of strength to crash the US economy, to be fair.
Show threadFlogzillaDec 17, 2022
@rbreich I’m relieved to see you here.
Show threadShamanDec 17, 2022
@rbreich the last reasonable Republican President died long ago:
Show threadAprilShowers99452871Dec 17, 2022
@rbreich
Republicans favor monopoly which destroys capitalism resulting in poorer market growth.
Show threadHeidi GDec 17, 2022
@rbreich how the heck do they fool everyone that they’re better for the economy. More importantly, how do we counter that!
Show threadIvaDec 17, 2022
@rbreich Same here in Australia, the conservatives talk up economic management but every time Labor has come to power there has been an economic emergency to fix. They sit in power and focus on marginalising/demonising less powerful parts of the electorate and do nothing to correct economic conditions.
They lack courage, conviction and purpose.
Show threadLonewolf ProductionsDec 17, 2022
@rbreich I can't agree more with this Professor
Show threadJonoDec 17, 2022
@rbreich their strength is irrational fear and pure ignorance of the most stupid kind.
Show threadOpinionated DadDec 17, 2022
@rbreich apartheid South Africa offered paid leave,paid maternity & paternity as well as paid sick leave.
It's a terrible situation when the apartheid regime offered more workers rights than modern day Americans receive.
Show threadBlueGirlGreenTearsDec 17, 2022
@rbreich
Show threadRadicalWoman111Dec 17, 2022
@rbreich
CEOs suck at math when it comes time to calculate which party is best for their bottom lines. It's a bizarre phenomena.
Show threadAskYourLocalGermanDec 17, 2022
@rbreich
Except for the rich!
Show threadCo-Operative WorldDec 17, 2022

@rbreich It can be accepted that some political parties have a worse, and much worse economic record than others.

However, that does not mean that we should be satisfied with an alternative if it fails to provide for the needs of all people, which we most certainly have the resources to do.

Not a single major political party, in America or elsewhere, comes anywhere close to this goal.

We need a new system free of money. The proposal is here: https://worldfreeofmoney.wixsite.com/website-1

Home | Co-operative World

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Show thread𝑺𝒉𝒂𝒘𝒏 𝑯 𝑪𝒐𝒓𝒆𝒚 🇨🇦Dec 17, 2022
@rbreich The GOP is a force of economic strength... if you're already rich.
Show threadRoller61Dec 17, 2022
@rbreich and yet, these MAGA twits continue portray the democrats as drunken sailors in a whorehouse? Reality is relevant these days, apparently?
Show threadMollyNYCDec 17, 2022

@rbreich

Yes.
If you want a real-life example of the Dunning–Kruger phenomenon, Republicans (and the Right in general) are there for you, with their belief that they know everything worth knowing about economics, no further study necessary.

(This partly reflects the Right’s intellectual laziness, but also:
They REALLY don’t want to acknowledge that trickle-down economics are crap. So they encourage this “move along, nothing to see here” view toward understanding economics.)

Show threadMeanmike79Dec 17, 2022
@rbreich agreed. They always act like they own the economy as an issue, and I want to just say, “Look at the scoreboard…”
Show threadAlaska Survey ResearchDec 17, 2022
@rbreich but they produce more billionaires! They’ve got that down, right?
Show threadNumber SevenDec 17, 2022
@rbreich Everytime the signifiers, Donald 🎺 'Republican Party', Biden 'Democratic Party' Rancid Sunak 'Tory Party'Sir' Kier Stiemer 'Labour Party' Appears it reminds me of a painting of a pipe by, Reni Magritte Titled This is not a pipe'. Same suspect Device's. Different Fronts.
Show threadbobbishidingDec 17, 2022
@rbreich indeed. Witness:
Show threadStan FletcherDec 17, 2022
@rbreich Same with deficit spending.
Show threadDoug Baker - Elbows Up! 🇨🇦Dec 17, 2022
@rbreich It is one of the most enduring myths of all: that conservative governments manage economies best. It is empirically and demonstrably false. Always. I’m no economist or political scientist, but is it because they think government is = business? Or because they think it’s a means of benefiting themselves and their friends?
Show threadSir LoinstakeDec 18, 2022
@rbreich The right wing always claim to be the party of fiscal prudence and defencers of Capitalism, but in the end, it is almost always social democracy that saves the nation
Show threadJohnnyDDec 18, 2022
@rbreich would love to get the data source on recession to share with some folks outside mstadon. Important information.
Show threadCalamity JaneDec 18, 2022
@rbreich Mirrored almost exactly in the UK. The Tories ‘fiscal probity’ is a sick joke.
Show threadHB-What’s the Buzz?Dec 18, 2022
@rbreich 🎯
Show threadwrtl101Dec 18, 2022
@rbreich
That's interesting, had no clue!
Show threadWrathofJan 🌞🌻🌎🖖Feb 15, 2023

@rbreich

🌟🌟🌟🌟🌟🌟🌟🌟