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Politics : Stockman Scott's Political Debate Porch
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To: Gary Walker who wrote (72118)2/7/2005 12:01:55 AM
From: bentway  Read Replies (1) of 89467
 
Do you think we're in a stock bubble now? We're just back to where Clinton left off. Even if you say 8k to 10k+ was a bubble, you still have to credit him with the stock market doubling! The stock market represents American companies, jobs, and economic prosperity. Bush is a failure here, and the evidence is undeniable.

Business and investment was encouraged by the fiscal prudence of the government during the Clinton years, it was bound to be encouraged. Instead of taking a lesson from this and continuing the Clinton/Rubin direction as he promised he would, Bush has ballooned the deficit like NO previous President, and had to resort to ridiculous amounts of debt-financed stimulus just to achieve stagnation. Stimulus the Clinton/Rubin policies didn't need.

Bush's warmongering, fear-based style of governenace is hostile to business. They sit on their capital instead of investing it. They move their assets out of depreciating dollars and into gold, euros and other more reliable currencies. Bush is a fiscal disaster.

Soon we'll be holding Treasury auctions where WE'RE the only buyers of our own paper! Bubbles happen. I believe we're in a housing bubble now, in certain areas, the downside of which will impact Americans much more than the dot com bubble ever did. I didn't buy into the internet bubble, and haven't bought into this one either, although I've profited handsomely from both.
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