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Politics : Politics for Pros- moderated -- Ignore unavailable to you. Want to Upgrade?

To: Road Walker who wrote (56487)	7/27/2004 6:49:44 PM
From: KLP	Respond to of 794335

No John, the "bubble" actually started back in the early 80's AFTER the recession of 1979-81.... I had just started in the business then, and didn't realize how bad it really was. Things started improving in the mid 80's, new small business' had started to grow....Companies like Microsoft, Apple Computer, Starbucks Coffee, McCaw Communications before it started to grow nationally, video stores started to have a few films on video by that time, although most of the film available was X-Rated....(the companies needed store managers who could deal with that...) etc....Ahhhhh, the stories I could tell....<gg> During that same time, manufacturing jobs Nationwide were shrinking, and Steel companies were disappearing here in the US, certainly much smaller than they had been. Why? A good part of the reason was the high cost of union labor. So really, who won??? Labor leaders continued to play politics with their members, promising them the moon, and really lining their own pockets, while the jobs disappeared overseas to labor markets that were not so expensive. Remember the recession in 1990-1991? I do, and I'll bet that most of us who were around then do. For many years, the joke in our industry was there were 4 types of industry that were boring and never changed....banks, insurance, CPA's and Lawyers..... Well, by the 1990's, those 4 groups were like sand in the wind.....totally scattered and merged, or out of business. By the early to mid 90's... Companies were beginning to be merged with each other, and sold, only with pieces to be spun off which left shells. Companies promised the new young workers BIG stock options..... But after awhile, the bad drove out the good. Options became worthless. Huge spaces of available commercial property became the norm, because of the inflated cost, and high taxes. All of these things happened at least a year BEFORE Bush came to office. As for new business being created....If the Government can keep down taxes from small business, the ONLY growth engine in this country for at least 50+ years, there may be some prospect of new jobs. Government doesn't create wealth...it just redistributes wealth someone has made and gives it to someone else.