Ted, the bottom line is that we're still trying to work off the bubble of 2000.
The bubble has been long gone. Any inventories left over, and that was in the telecom sector, were worked off last year. The economy is floundering because there is way too much uncertainty for a whole bunch of reasons part of which were in Bush's control.
Bush did his best to try and soften the blow, but the results of his efforts will probably be short-lived.
What did he do to soften the blow?
The only reason the unemployment rate isn't higher is because we started the recession at a much lower level than any other recession since WW II. Bush has Clinton and his eight years of expansion to thank for that.
(Not before November, if Bush has it his way.) He could have just cut spending, batten down the hatches, and let the market correct itself, but never has politics ever rewarded the "do nothing" candidate. Look at Bush Sr., for example, and how a mild recession cost him the election of 1992.
I think both Bushes only do the part of their jobs that turn them on and ignore the other parts until its too late.
I don't know how you got the impression that I believe things under Clinton were as bad as they are now. If anything, I too long for the prosperity of the Clinton era. Next time, though, let me know when to sell. Clinton never did, and it should be obvious why.
What makes you think Clinton should have known when Barrett and Chambers didn't know? The people who were keeping the president alert missed the whole unraveling until it was too late.
BTW did you know that S. Korea was in the process of impeaching their president?
ted |
