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View Diary: The "Welfare Queen," The "Homeless By Choice": Reagan's Toxic Legacy (144 comments)

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  •  Arming Islamic Fundies, Repeal of Monroe Doctrine (3+ / 0-)
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    4Freedom, jlms qkw, yella dawg

    Reagan trained and armed Islamic fundamentalists for short term gains against the Soviet Union with absolutely no regard for the consequences. He compared Islamic fundamentalists with our Founding Fathers. He dedicated a space shuttle to Islamic fundamentalists. And we continue to pay the price for his follies.

    The 1985 Plaza Accord (which effectively devalued the USD) said that the FED and Treasury would coordinate policy on Latin American debt with the Bank of Japan and the Bundesbank. This is the first time since James Monroe that the US ceded policy on Latin America to non-Western governments.

    The Clinton Administration, to its ever lasting credit repudiated that portion of the Plaza Accord in 1994 -- for which they were threatened with impeachment.

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