The thin veneer is coming off
 

The thin veneer is coming off the empty shell that is our "economic boom". We have all been told that the economy (edit) in the 1990's was the best the US has ever seen. I question if that was ever true at all. NOTE: This guy did not do this all (edit) in the last several years. We are now collectively paying for the brilliant schemes the financial wizards came up with to show such growth.

http://news.yahoo.com/s/nm/20081212/bs_nm/us_madoff_arrest

http://news.yahoo.com/s/nm/20081212/bs_nm/us_madoff_7

snow tires

Busch has had eight years to fix things, in case Clinton did anything wrong. He was handed a surplus, the economy collapsed under his watch, but some still find ways to blame it on the Clinton years. Go figure :rolleyes:.

Aurel

And others find ways to blame it on bush. Go figure.

Busch ran all his previous businesses in the ground. It came to no surprise to me he did the same thing with the country he was supposed to be running. At least he won`t get a bonus when he leaves :p.

Aurel

can this be moved now?

WRONG. You drank the Kool Aid too. There was never a surplus. There was a projected surplus 10-15 yrs. out IF receipts, spending and growth remained exactly as predicted. What were the odds of that happening? The only surplus that has actually existed in my lifetime has been in Social Security, which is promptly stolen, squandered and replaced with worthless IOU's that will never be repaid.

Wow you guys are way off. This was not a political thing. The reference to Clinton and Bush were just to set time periods. I was aiming more for the idea that perceptions during these periods does not equal reality and not a commentary on the abilities of either person. Oh well, guess it was to much to hope to be able to use two words without a knee-jerk reaction to them. :rolleyes:

Clinton, Clinton, Clinton
Bush, Bush, Bush

Yes, please.

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Too much tabs makes you see schit and have bad trips thinkin' the world is endin' and all other manner of bad stuff...

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As soon as a thread contains the words Clinton or Busch, it belongs to PARF. Your mistake.

Aurel

Edited for generic time periods. Any comments on the idea that the wild success of the US economic growth in general was just a thin shell? Or is the emotional response to key words still to much?

My point would be that I don't think this is the only guy doing this stuff. I think that ALL areas that we measure past economic growth have an aspect of this to them.

rainbow trout

Ok. Nevermind then......

No, politics aside, I agree with you. There were never solid fundamentals in the US economic boom, it was not sustainable. Imagine an economy that is based on services and consumption, fueled by credit and where money is made by speculation. Not enough exports. Things have been kept running on life support with cheap money for too long, and it looks like our leaders are persisting in this strategy.

Aurel

Sorry tobster I understand you had no political agenda... others however.

My cat's breath smells like cat food.

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People borrowing to maintain a standard of living beyond what they can afford, it is not surprising. People think they deserve something because they are Americans. You get a chance, not a blank check. People seem to forget this.

how is it his mistake when you brought up Mr Bush in your first post? He says he is trying to set the time period, you make it about hating Bush, and he is making it political.

One question, do you get vertigo if you stop spinning to the left?

At the end of the Cold War previousily devalued assets were revalued at current market. The Cold War depressed the value of comapnies stock, removing the threat or lessening of anhilation allowed those assets to be more fairily valued.