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« Obama Continues to Push for Economic Stimulus Package | Main | Isreal Launched Ground Attack in Gaza, Bodies of Hamas Leader's Dead Children Paraded in Streets »

January 03, 2009


James Stripes

I'd say there are three places to begin looking for the cause of the meltdown:

1. Reaganomics under Reagan
2. Voodoo Economics under the high priest of recklessness, George I
3. The apex of irresponsible deregulation under George II

Of course, the devil is in the details, part of which includes seeing through the digested grasses that pass for calling the dot-com boom in the Clinton years real prosperity. The point is this: not much of the economic growth we've seen since the malaise of the Carter years has been what we once termed real.



Thanks for your comment. I'm in agreement with #'s 1 and 3 on your list. The market shenanigans we are dealing with certainly started with Reaganomics. I think we've been all been increasingly serving the top echelon of the wealthy since Reagan began the national experiment of turning our economy over to them.

I'm not as clear on Bush 1's major contributions (to much of anything, really) to greasing the skids, but he kept Voodoo economics alive alright, even after naming the phenomenon... and as you say, the Clinton years were not as much a lasting boom, more of a bubble...

The last few months have certainly been an incentive to look closely at economic history, no?

Let's hope America begins building a real 21st century economy, now that we have no choice but to think about what we need to invest in-- and what investment will provide lasting jobs and value.

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