JDN,
From Lawrence Kudlows excellent article:
exchange2000.com
The two principal engines of growth in the 1990's have been the zero-inflation strategy of Fed Chairman Alan Greenspan and the wave of information-age technological advances from the hardware and software industries. With spillover effects reverberating through every nook and cranny of the reconstructed economy, the growth, productivity, investment and job-creating abilities of the U.S. economy have outperformed all expectations. So has the stock market.
This is reality. The only credit any politician, including Clinton, can take is for not screwing it up, at least so far. The current wave of DOJ and FTC activism IS going to screw it up, IMO. Turning to Republicans to restore some sanity to this issue is fruitless if one looks to the likes of Dole, Hatch, Bork, etc.
In the cases of Intel and Microsoft, the government agencies involved have admitted that the current charges are just preliminary to further, far-reaching inquisitions with no end in sight. The worms grow fat with big paychecks, job security, and pure power lust, masquerading under trite slogans such as "consumer protection" and "protecting the free market". If there's anyone on the political horizon with the guts to pull the plug on these petty bureaucrats, I haven't heard about it.
Regards, JB |
