"Ben Siders" wrote in message
news
On Tue, 05 Aug 2003 13:00:24 -0500, todd wrote:
snip of a reasoned understanding of how the economy REALLY works
People who attribute a successful and/or failing economy entirely to the
President simply don't understand basic economics. This isn't an attack
or an insult; most of don't have any real need day-in and day-out for it.
Economies, especially in capitalism, follow waves of expansion, recesion,
and sometimes depression. It's all but inevitable, although some things
will influence (wars, especially). When Bill Clinton took office, the
American economy was well out of recession and recovering grandly, but
there's a lag between economic indicators and people starting to get
jobs and raises. It also depends on where you live - economic
fluctuations are felt far less severely in the flyover parts of the
country than on the coasts.
snip of still more of that stuff
Anyway. If you're quoting the NYT as evidence to back up your opinion of
the President, I suggest that you've already decided you don't like him
and are looking for good reasons to think so. That's fine, but understand
that the economy is about where it SHOULD be. The tech bubble was very
overinflated and the nation's economy was overvalued. The same thing
happened in the late 80's and it culminated with a big dive and there were
dire predictions of how close we came to another 1929. Obviously, we got
over that.
Look at our economic growth, especially in industry, since 1980, and
just shave off the tech spike and the nation's economic growth is still
incredible. Deficits? They're no larger as a percentage of the nation's
productivity than they've ever been. I'm afraid you're the victim of
media FUD.
There you go Ben, trying to counter a rant with a good understanding of how
money works. How silly of you! LOL It's interesting that the people who
actually wade around in the money every day, just laugh at those who think
that any one government body has much control of the money. They consider
them more of a "speed bump" on the road to forward progress. They have a
real understanding of how money works. And to those who think Greenspan has
saved you grits...do some real research on interest delay cycles and such,
and you will find that his actions were too fast on the interest raise, and
changes made in the other direction did not take into consideration the
delay to the street.
In a sideways sort of way, the people who bitch about the wealthy getting
the breaks, and gripe about their taxes (and anything else they can find)
are right. What they don't understand is that it's also not the government,
but the fact that they understand what I mentioned above. They also use
that understanding to deal with those conditions where government can be
taken in it's proper light. But then again, this is all off topic.
Digger
Digger
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