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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: tejek who wrote (427388)	10/17/2008 11:43:23 AM
From: michael97123	Read Replies (1) \| Respond to of 1572391

You asked me about to defend supply side as successful between 1980 and 2000. I think these were good times. We wound up with a tech bubble but i understand that mess. We wound up with 9/11 and i understand that as well. Where supply side went wrong was the lack of recognition by clinton admin and then bush that the housing/financial mess they were creating would bring down the whole system. Then compound that by two wars paid for thru borrowing and with a declining dollar to boot. There was nothing inevitable about what clinton and greenspan started that was made much worse by bush, cheney, rummy and a rather ignorant treasury department and fed. But whats done is done. And now we are in 1932 again. FDR Obama, public works, job creation, saving banks and large deficit spending is whats called for before we can get back to capitialism and operating supply side as before with adjustments for the mess. Only ideologues cant see that there are times to be Keynes and times to be Laffer. The problem we have can only be solved by Keynsian methods. Kudlow and Laffer need to understand this and you need to understand that Reagan, Bush and Clinton brought us great prosperity as well as great opporunity. But in that prosperity we allowed the seeds for its destruction to grow with liberal excesses (fannie/freddie) and republican excesses in the banking system and with borrow and spend, and with junking the greenback. I think have BB as fed chairman helps greatly because he is a student of the depression and will not let it happen again. I think we have removed armeggadon as a possiblity but a severe recession will continue for longer than we like and the US will have to get back to living within its means while the next gen of american entrepreneurs creates the underpinnings of our next move up.