Actually GB and previous hid the largest deficit known to modern America, and handed it over to Clinton's administration. Once they revealed that there were over 3 sets of books, they took serious steps towards handling all the debts, deficits and so forth. Yes, it takes years sometimes to get momentum going. In Clinton's case it took 2 terms to set it up, and then go into super heated state. I do know that the Technology boom happened under Clinton, and caused the jobs scene to go into over drive recruitment state. That caused many articles of recent expose' note, to admit that even newly hireed secretaries were earning over $100,000 in Silicon Valley. Even then, they couldn't afford to live within 1 hour's commute of their employ. What ever the case, there are just so many NASD stocks that no longer exist in their high flying or true value state. In fact for that matter the NASD is no longer the primary marketplace breathing down the NYSE's throat.
Ted Koppel really took a major hit when he did that segment on Conflict Diamonds, King Leopole, Africa and their present deplorable condition. Seems that the Diamond brokers pulled in many favors and just about cancelled his shows and prestige. I didn't know that Ted K was on the "do not watch list".
Swoop - FOX has no relationship what so ever with Jerry Springer, you might say Donahue on MSNBC had some of Jerry in him, but they were smart enough to dump him. If you voted for Democrats, I am wasting my breath but here goes. On the issue of Europe and talking to Euros (Europeans) I used to BAR B QUE Euro peacenicks for breakfast, I was in Germany for 3 years, and I just explained and they understood, the kids that argue (PEACE - Do nothing) are ignorant of the total situation. They don't understand intervention before a disaster happens. What we are doing in Iraq is an intervention, and I seriously doubt there will be much of a fight there, but if there is my brothers in arms say that will be quashed pretty darn quick. Euros just don't comprehend that Chemicals and Bio can pass through borders of a Syria, Jordan, or Iran, like water. Now if I could FORCE feed HISTORY CHANNEL to them, then most of the people in the Country side (in Europe) away from the cities would really understand America's position on the matter. Europe is weak and will always depend on America for Moral Fiber. Case in point, they spend less then 1% of their GDP on Defense, we gave them a 50 year Defense program (our NATO support) on a silver plater, (I was part of the cannon fodder) 15 min Flying time from East Germany, was my base. My sister lives in Switzerland and I have sent her several emails she passed on to friends over there for a little clearer picture on what we are doing. Further doing nothing leaves all kinds of uncertainty for the markets. Everybody in the financial industry (with HALF a Brain) knows Saddam has the WMD, and as long as he sits out there, I don't think the markets will recover.
ZBEAR sez..... The Two Most Precious Metals are "Brass & Lead." Please adjust your portfolio's accordingly.
Macro Economics takes several years to trickle down to Society. Not days or months. Therefore, Clinton's office benefitted from Reagan's and Bush Sr's policies - Bush Jr. has inherited the mess left over from the Clinton era. And Greenspan's mis-management. To blame the current state of affairs on Bush Jr. is not realistic. He wasn't even in office when this disaster was set rolling. He just has to take the flack for it as the current scapegoat. And somehow lead the country back out of it. Which he won't be around to take credit for if he is successful due to term limits. 'Cause it will be a couple years minimum before an appreciable change will be noticed by the Public, and a few more for it to solidify into a long-term recognizable trend obvious to everyone. Some Democrat will probably be in office by then. History repeats. Respectfully, Paul
Guys, you really need to take an economics class. No offense but what's happening today is not due to the fiscal or monetary policies that were under the Clinton era. Come on. Moreover, it's ridiculous to put the blame of the economy on a single person ie: the president. He has little to do with it. It's like blaming the market for your losses as a trader. Japan has been at 0 interest rate forever now, and nothing is reviving it, so come on, a little common sense here.
I respecfully disagree and invite you to review some facts. 1) Greenspan raised interest rates 7 times within 1.5 years - you don't think that had an effect on slowing down the economy? Bringing it to a screetching halt? What do you think caused the Bubble to break instead of just shrink? There were a lot of promising High- tech companies that needed a few more rounds of venture financing in order to bring their products/services to fruition - when that money got too expensive and they could not secure debt money any more, a lot of them folded. More than normally would have just because of the Bubble. Witness Silicon Valley now. My own wife and one of my firiends worked for two such companies in Seattle and that is what ultimately took them both down. Amongst other things. Like inflated advertising revenue projections and the Telecom crash. 2) It's a FACT that economic policy takes years to have it's effects known or felt. 3) I agree it's not the President alone - but who appoints Treasury Secretaries and umpteen other people that affect monetary policy, negotiates with Congress over policy, signs or vetos bills, puts pressure on Fed, etc. etc. etc.? To say that the President's Administration doens't have a major effect on overall economic health is absurd - not to mention leadership - When Clinton got to crow about job creation, during what administration were those small business created in the first place? The ones PRIOR to his. Because people had the confidence in our leadership back then to start planning/creating new businesses and grew them steadily - what did Clinton's Administration have to do with this? It had already happened by the time he hit office. 4) Japan has many other problems like ridiculous pension obligations that are hurting them so I don't see the comparison. (Ours may very well be another banking failure in the near future IMO). Of course this is all just academic and my opinions so I reserved the right to be wrong - but from my perspective this is more or less what happened. Paul
If it were the case, Europe would still be striving. The stock market was not only fueled by low interest rates, it was fed by investors who didn't know how to value a company. Unsustainable growth is the reason for failure, not the fact that GS rose interest rate to try to control the situation. It burst eventually, just like other market crashes. Not necessarily due to domestic policies, monetary or otherwise. People like to find scapegoats for all kinds of mishaps that happen to them. It's been tough since March 2K, granted. War looming doesn't help. The US has some issues that need to be resolved, and they are not necessarily due to fiscal or monetary policies. Growing consumer debt can be a reason for slower growth, banking problems, people shifting their views from spending to saving, war, fear, confidence, deflation and what not. People eventually drive the economy, you can guide them so much with policies. Clinton was not alone in driving the economy forward and Bush is not alone, just like Greenspan is not alone. Interest rates usually have an impact on the stock market 6-12months later. It's been like 2 years since the first rate cut and nothing has come. Eventually, one has to wonder, that there are other systemic forces at play.