Saturday, November 15, 2008

Obama's Bulls

Obama's Bull Market?
"I've got an economic plan similar to Bill Clinton's"

Most demoralizing thing about politics since Clinton is that facts, even when fairly presented, don't matter to half the public.  Nevertheless, we trudge on.

The Myths Of Clintonomics

By INVESTOR'S BUSINESS DAILY | Posted Friday, November 14, 2008 4:20 PM PT

Fiscal Policy: President-elect Obama says he's modeling his recovery plan on Clintonomics because it pulled the economy out of a ditch last decade. But that's an old myth — and a dangerous one at that.

IBD's analysis is factual, but doesn't go far enough to suit me.  You can scarcely discuss Clintonomics without noting that his administration reaped the harvest of billions of dollars in Resolution Trust Corp proceeds, after the Bush Administration endured the cost of bailing out the Savings and Loan industry.  And, virtually 100% of Vice President Gore's "reinventing government" budget cuts came from closing scads of military bases, and turning off more scads of defense related spending. Which caused me to think this evil thought.

Do you suppose it's possible that Obama and gang engineered the current banking crisis, which will be debited on the Bush ledger, so that Obama can realize billions in income about the time he runs for a second term?  I'm just saying.

9 comments:

K-nine said...

The fannie mae/freddy mac fiasco and resulting bailoput is the democrat's version of the burning of the reichstag.

Rodger the Real King of France said...

Also a good analogy

Anonymous said...

You forgot to mention the Clintonistas good fortune of catching the IT age in the log phase. It is one of the transformational economic experiences of history. Clinton had nothing to do with it.

Casca

Anonymous said...

Two other economic boons: The trashing of Hillary health, saving billions. And the massive down-scaling of welfare.

Also, the 1994 elections that brought in Newt and the Republicans acted as a severe check on the Dems normal socialistic tendencies. It remains to be seen if there are enough cojones on the right side of the aisle to prevent some of the more dangerous boondoggles coming our way.

Speaking of Her Filthyness, I hope she becomes SecState. And then I hope Uhbama fires her within a year.

Rodger the Real King of France said...

IBD discusses Newt's congress The very prospect of Hillary care changed our Health Care System forever, and for the worse. Much of it is implemented, and by a Republican congress too.

Anonymous said...

Isn't it also possible that Bush and Friends engineered the meltdown to put some brakes on the Socialism they could see coming? Just saying....

Rodger the Real King of France said...

I (have) can show you the money line supporting my hypothesis..

Anonymous said...

Two thoughts:

Part of the Clinton boom was based on cooked books at WorldCom, Enron and Frannie and Freddie. These scams got away with it under Clinton and finally were blamed on Bush because they were uncovered on his watch.

One of our biggest creditors is China. It's our own fault but we gave them the power to stun over economy anytime they want by messing with the cash spigot. Did they do it in an election year to influence the outcome? We know that they funneled bundles of illegal cash into the Clintons and Gore.

markshere2 said...

Y'all have made potent points, but there's two big ole gorillas in that living room that got ignored.

In 1996, there was a little item called the internet that EXPLODED, bringing a tech boom with it that made California's (and with it the USA's) economy catch fire.

As that bubble was about to burst, a little event known as Y2K forced EVERY DAM company in the USA to buy new computer equipment and software. That prolonged the silliness, pumping more billions of cash into the furnace.

That bubble burst in an ugly way in 2000, and Pres Bush inherited a recession.

I don't blame Clinton for the recession, but I dam sure don't give him credit for the economic explosion that happened despite his tax increases.

Reagan's cold war victory gave us the "peace dividend".

With the clear thinkers here who can remember the bits of the facts and bring them together, we're developing a pretty clear picture of the historical record.

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