Mark at Eclipse Ramblings posted a piece entitled, The Left's history with the CIA.
So what does it have to do with the recession? Read the comments.
A commenter that uses the typical political cultist jargon and phrasology, as taught by the University of Distorted Facts (better known as MoveOn.Org), somehow railroads the topic from that of the CIA to the Clinton economy.
Well, not wanting to pass up an opportunity to re-direct a misinformed American, I have attempted to clear up the person's misconceptions about the Recession of 2000. But to no avail.
(And since I do not want to overstay my welcome on Mark's blog, I thought that I would move the discussion here. So Dan, if you read this blog you are welcome to continue the debate here.)
For Dan and any other person that has chosen to believe left-wing political cults' revised economic chronologies over history, the recession began in 2000. As I said in my comments on Mark's blog, the Y2K Tech crowd lost a lot of jobs right after the beginning of the year, in 2000.
The result on Wall Street was a major drop in the Stock Market. In January 2000, the Dow index was at 11722. But by March it had dipped to 9796. That is enough to cause a recession (and it did). I don't care how many liberal Bush hating, non-fact loving elitists spin it, this is when the recent recession was born.
Some indicators may not have been able to measure it, until 2001. But the simple fact remains, anytime you have that much of a plunge in blue chip stocks, you are going to have a significant slow down period. But even more important to understand, is that the President (no matter what party he belongs to) does not control the stock market, and doesn't control any other aspect of the economy. Therefore, he cannot be praised, nor can he be blamed.
But if he did, it damned sure was not Bush's fault. Clinton was President then. And no amount of explaining, no amount of spinning, and no amount of excuses can convince any intelligent free-thinking individual, otherwise.
1 comment:
During the 1990s America attracted a lot of investment into tech stocks, these formed a bubble witout producing any real big returns. The bubble burst, one reason for this was that China has been able to offer sustained growth in industrial and consumer goods manufacture and at the same time provide actual profit returns. The Chinese economic growth has diminished the interest in American stocks, but as American companies are investing in China it is likely that dividend returns from this investment will increase the attractiveness of the American stock market.
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