Skeets, No memory loss. I was pounding Greenspan regulary during the Clinton Administration, and Bill, too. Really, more than an internet bubble, it was a tech bubble. What I am saying is that the tech bubble was relatively small and a very small part of our real economy. It was a scary, stupid bubble, with optical fiber getting laid like James Bond before the censors. But that was the "new economy," with most of the financial damage done in the Nasdaq. Bush/Greenspan created bubbles in the heart of our economy: real estate, energy and the financial system Now we can reflect that we WISH the "new economy" really had been the important thing with all of that old stuff reserved for the old Europe, and not the swinging, high tech USA. I remember one comedian, Shecky Greene, telling another, Totie Fields, that he had lost a finger tip in a freak accident. "How can you even talk about your stupid finger tip? My leg got cut off."
Under Clinton, we thought having our fingertip cut off was pretty gruesome, and it was. Under Bush, the loss of our leg does seem somewhat more important.
O.K., I compared the economy to a heart, a fingertip and a leg. No more anatomy for me today. <G> |
