David, if people find your explanation a little too partisan, they should at least know that the market has a significant "Wag the Dog" element to it.
Perhaps. But I want to tell you that the year I became absolutely partisan was 1992. In that year I saw a man elected on the basis of absolute lies. The voters were told, long and hard, "it's the economy, stupid" when, in fact, it wasn't the economy.
The economy had been down pretty hard beginning almost overnight in July '91 (wonder why?) for a brief period. It was the most immediate downturn I ever witnessed, when I had clients whoses businesses were booming 3 months earlier, where suddenly sales dropped precipitously. But honestly, it was back long before the election.
I just can't stand a liar. And the Clinton team was comprised not of the best politicians, but the best liars, America has to offer. One need only watch Begala & Carville on Crossfire to see that their talents continue to this day. Begala, in particular, is shameless. |
