Read time: 2 minutes

Reaganomics And The World Of 1983

(The Wolf at the front door is starting to look like the family pet) The never ending story of the Economy, and the ever perplexing world of Reagan


(The Wolf at the front door is starting to look like the family pet)

The never ending story of the Economy, and the ever perplexing world of Reaganomics of the 1980s. Probably not a revelatory view, but one given by Donald C. Platten, who was in 1983 Chairman and CEO of Chemical Bank. The interview via CBS News Face The Nation on August 14, 1983 gives some indication where things were heading.

Donald Platten (Chemical Bank): “The feeling I personally go to bed with every night is that the economy will shortly stop being in a recovery mode, in other words we will have reached the former peak of the economy and that there will be a growth that we’ll be able to talk about as far as our economy in the months ahead. I think what is going on now in the economy is very healthy. I don’t think we have to worry about it being over exuberant. I think there will be a good economy going from now right straight through the year end into 1984. I think there will be pauses. I think in certain industries there’s going to be really no basic recovery in a significant way. I’m afraid that the problem of unemployment is going to continue with us for some time to come, and that really is the biggest thing in the country today. We’ve dispensed with the word Inflation, really. It’s a non-subject, why? Because it’s down to around 3 to 4 percent as against 14 percent a couple of years, so now the unemployment factor is the one that’s on most peoples minds. And that is going to continue down as the economy continues to grow, that it will not affect everybody as well as some other people, there’s no question about that.”

Hindsight and the reading of Tea Leaves. Twenty-six years ago they were doing it. Twenty-six years later, they still are.

Can you help us out?

For 17 years we have been exposing Washington lies and untangling media deceit, but now Facebook is drowning us in an ocean of right wing lies. Please give a one-time or recurring donation, or buy a year's subscription for an ad-free experience. Thank you.

More C&L Coverage


New Commenting System

Our comments are now powered by Insticator. In order to comment you will need to create an Insticator account. The process is quick and simple. Please note that the ability to comment with a C&L site account is no longer available.

We welcome relevant, respectful comments. Any comments that are sexist or in any other way deemed hateful by our staff will be deleted and constitute grounds for a ban from posting on the site. Please refer to our Terms of Service (revised 3/17/2016) for information on our posting policy.

Please Do Not Use the Login Link at the Top of the Site.

In order to comment you must use an Insticator account. To register an account, enter your comment and click the post button. A dialog will then appear allowing you create your account.

We will be retiring our Crooks and Liars user account system in January, 2021.

Thank you.
C&L Team