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Politics : Foreign Affairs Discussion Group

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To: mistermj who wrote (218219)	2/13/2007 4:21:16 PM
From: Katelew	Read Replies (1) of 281500

The stock market is not the economy. How do you get off blaming Clinton for the crash?? His own chairman of the fed. reserve, Alan Greenspan, kept warning about the 'irrational exuberence' of the markets. What could Clinton or any president have done? On the contrary, Clinton sucked money out of the private sector with his tax increases. At the same time he cut govt. spending, thus reducing that market stimulus. The market bubble was basically caused by demographics. The boomers were entering the savings years and massive cash flows were flooding in from IRAs, 401Ks, and private savings. You could see the quarterly market blips as mutual funds had to invest their new funds. Re-financings also freed up tons of money for the stock market. This then led to the dangerous market psychology of day trading and easy money.

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