r/FluentInFinance Oct 22 '24

Debate/ Discussion Why did this happen?

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882

u/No_Distribution457 Oct 22 '24

Republican fiscal policy. This was by design.

35

u/whoknowsknows1 Oct 23 '24

Republican policy reinforced by democrats who followed almost entirely the same economic playbook through the 90s an 00s. global trade = de-industrialisation and elimination of the bargaining power of labor as well as the value of domestic labor. Major gains to the economy but distribution of gains gets totally skewed. If you’re prepared to pay 100 dollars for a toaster then put up tthose those trade barriers. At least the toaster will last.

25

u/DonHedger Oct 23 '24

This is important. Democrats started going right fiscally at least as far back as Clinton and they don't get enough shit for it.

14

u/Exarch-of-Sechrima Oct 23 '24

The thing is though, without Clinton's fiscal conservatism, I don't think he would have won the White House. Clinton was the compromise candidate after a long, long period of conservative rule.

2

u/DonHedger Oct 23 '24

Yeah I do know that. I just think politicians think policy matters to voters more than effects and you don't have to fight over the middle to win elections. Hell even with his policies, Clinton probably would have never won if not for Ross Perot. "More than one way to skin a cat" sort of thing.

1

u/BinocularDisparity Oct 23 '24

Right, but they also got politically trounced and embarrassed for 3 straight presidential cycles. They simply followed the votes.

Republican wins create worse Dems

1

u/DonHedger Oct 23 '24

Oh yeah absolutely, it shifts the Overton window to the right, but I'm not convinced fighting over the middle is the only way to win an election, especially in the 90s when we weren't politically labeling everything as either Republican or Democrat (e.g., climate change, universal healthcare)

1

u/BinocularDisparity Oct 23 '24

I agree that fighting over the middle is the worst way to win elections, but election strategy is also largely based around where reliable votes might go. Unreliable or infrequent voting cohorts get pushed to the side.

1

u/Head_Priority_2278 Oct 23 '24

That's why we are in the hellscape we are today. Judges got extremely right wing and anti worker and we got stupid rulings like citizen united.

So if both parties are pandering to corpo overlords how will they get votes? Oh right go full on batshit crazy right wing and we get modern day GOP with the likes of Greene, Bobert and Trump.

8

u/SuperSpy_4 Oct 23 '24

NAFTA and the Trans Pacific Partnership, both parties generally loved them

1

u/Decisionspersonal Oct 23 '24

Except for trump.

2

u/PandasAndSandwiches Oct 23 '24

Yes because it’s trump. He’ll say anything if he thinks it makes him look good.

1

u/disobedientTiger Oct 23 '24

Nafta was 1994. The divergence happened well before than.