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Politics : PRESIDENT GEORGE W. BUSH
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To: AK2004 who wrote (512783)12/18/2003 11:51:28 PM
From: TigerPaw  Read Replies (1) of 769667
 
During Clinton's term the technological aspects of our society and economy were actually expanding. This is a large part of the wealth increase. There was speculation to be sure, but there was a great deal of real new wealth, mostly as a result of changing to a technological model which allowed for an expansion of information, worldwide.

Junior and his team stopped all the incentive for that expansion. They were in favor of the old economy where their families had dominated for so long, oil - gas - coal - steel - guns - timber - and probably buggy whips.

With technology in a standstill, the existing talents and skills become a commodity to be shipped off to the cheapest country. There is no need for expensive and educated talent when the only goal is to maintain the status quo.

That is what was behind the bubble and the bust.
TP
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