SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Politics : PRESIDENT GEORGE W. BUSH
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: stockman_scott who wrote (303973)10/3/2002 9:35:55 PM
From: DavesM   of 769670
 
Why don't you compare the current economy's performance with other periods of severe stock market contractions. Compare unemployment now with the Unemployment that resulted in the market correction in the early 70's. Compare unemployment now with the unemployment seen after the market correction of 1929.

The year before George Bush-43 became President, was the worst year for the Dow Jones since 1981, the worst year for the S&P 500 since 1977, and the worst year ever for Nasdaq. Within a couple weeks before the change of power (from Clinton to Bush-43), in California, PG&E and SCE defaulted on payments, President Clinton had declared California's electricity and natural gas markets to be in a state of emergency, and rolling blackouts started. When George Bush became President, the country was probably already in negative GDP growth.

Experts claimed that the tax cut was not going to stimulate the economy, but consumer spending (which is what the Administration said the tax cuts targeted) exceeded "expert" expectations - and has been one of the few economic bright spots.

Re:"President Bush's $1.6 trillion tax cut that was supposed to stimulate the economy has instead scuttled it. The market lost 18% of its value in the last quarter. (18% !!! ) Unemployment, back on the rise, jumped to 6%."
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News