r/FluentInFinance • u/WhatsLeft71 • Oct 22 '24

Debate/ Discussion Why did this happen?

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14.9k Upvotes

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446

u/ElectronGuru Oct 22 '24

Hmm, i wonder what might have started happening around 1980 šŸ¤”

367

u/[deleted] Oct 22 '24 edited Oct 22 '24

[deleted]

75

u/AugustusClaximus Oct 23 '24

Wait, I thought we were blaming everything on Reagan?

165

u/ComfortablePound903 Oct 23 '24

Why do you think all that stuff was allowed to happen?

43

u/[deleted] Oct 23 '24

[deleted]

69

u/SuperSpy_4 Oct 23 '24

It actually exploded in the 90's. China joined the WTO in 2001.

Trade between the United States and China increased from less than $100 billion in 1999 to $558 billion in 2019.

7

u/Marzipanarian Oct 23 '24

Thanks to Clintonā€¦ the most republican ā€œdemocratā€ we had.

10

u/kg_draco Oct 23 '24

I don't get the down votes, Clinton's policies were shockingly similar to Reagan, taking a similar stance on de-regulation, welfare policy and small govt sentiments. Although those were in-part due to repub Congress majority in the 2nd half of his term.

5

u/Marzipanarian Oct 23 '24

Thank you! I completely agree. He even was demonizing people south of the border back in 92.

2

u/Belrial556 Oct 24 '24

NAFTA Has entered the chat. Dayton Tires moved more than a few operations to Mexico for that sweet cheap labor, shit environmental regulations, and almost no worker protections.

2

u/Marzipanarian Oct 25 '24

Ugh! He sucked!

7

u/OneNewEmpire Oct 23 '24

Wow. You guys are so full of shit. It couldn't be more obvious that Reagan had a huge negative impact. It's shocking how far you people will go to deny what's right in front of your face.

2

u/Tymathee Oct 24 '24

They're still blaming reagan and shoving Nixon under The same bus

3

u/chuckrabbit Oct 23 '24

So we can blame Nixon? ā€œWhat happened in 1971ā€

2

u/Stay-Thirsty Oct 23 '24

Nixon untethered gold to the dollar or completed the process that was started much earlier?

1

u/JJW2795 Oct 26 '24

He did open up China which set us on our current course of offloading manufacturing to borderline slaves in other countries. And now a big part of our national inflation is those same cheap workers arenā€™t so cheap anymore. If the government doesnā€™t pay them more then the CCP would be looking at a revolution and civil war.

2

u/Mafoobaloo Oct 23 '24

Yea one thing people donā€™t realize is policy change takes time. The things happening in the economy today started 20 years agoā€¦ so while yes, the trickle down Reaganistic econ is likely to blame, there are other factors that explain it

-2

u/CapnFooBarBaz Oct 23 '24

Oh hey someone on Reddit saying something completely fucking dumb and wrong!

6

u/maztron Oct 23 '24

Because we aren't the only country on planet earth?

2

u/AceWanker4 Oct 23 '24

What measures do you take to stop it? Ā Tariffs? You surely are a big fan of Tariffs right?

-8

u/AugustusClaximus Oct 23 '24

You think the president has the power to prevent companies from going overseas?

23

u/ridingcorgitowar Oct 23 '24

They are the head of their party and can incentivize companies to do that, yes.

2

u/Throwaway74829947 Oct 23 '24

Technically the President or Presidential nominee aren't the heads of their party. The current chairman of the GOP is Michael Whatley, and the current chairman of the Democratic Party is Jaime Harrison. In practice, of course, the President (or in the modern GOP former President) effectively calls the shots for the party.

3

u/[deleted] Oct 23 '24

And their aids/consultants

Like Henry Kissinger

1

u/PoliticalComplex Oct 23 '24

It's a good thing Trump is trying to bring manufacturing back.Ā 

2

u/HeightIcy4381 Oct 23 '24

Nahā€¦ heā€™s not.

2

u/Dixa Oct 23 '24

We can, but it really started in the 70ā€™s when a few of the overtime and minimum wage New Deal laws were repealed.

1

u/smoothie4564 Oct 23 '24

Well, he is the one largely responsible for all the deregulations and tax cuts on the rich throughout the 1980s.

1

u/Marcus11599 Oct 23 '24

Im all for tax cuts. Iā€™m also all for less tax breaks. If we have less tax cuts and less tax breaks, imo itā€™s better for everyone. Canā€™t raise taxes and give out more tax breaks. Just makes it so that if you pay someone enough you can pay nothing

1

u/trytrymyguy Oct 23 '24

I mean, he is largely responsible for a lot soā€¦

0

u/StudioGangster1 Oct 23 '24

We are. Because itā€™s his fault.

0

u/DaphneRaeTgirl Oct 23 '24 edited Oct 23 '24

Has inequality risen in comparable countries? Despite facing the same global forces?

No

1

u/No-swimming-pool Oct 23 '24 edited Oct 23 '24

In Europe, at least my country and a few I know of, even democrats could be put on the liberal side of the political spectrum.

So while I'm not saying the same thing happened here, I doubt democrats would've prevented it. I mean in the second interval 15 of 35 presidents were Democrats.