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Spider Jerusalem

(21,786 posts)
2. Hate to play devil's advocate...
Fri May 18, 2012, 01:56 PM
May 2012

but presiding over the dot-com bubble and deregulation of the financial markets isn't exactly an achievement to be proud of. The stock market performed very well in the 1920's, at a time of rising mass investment in new and maturing technologies...home appliances, automobiles, refrigeration, aviation...but then what happened in 1929? The 1990's boom was similar, the stock market would have done very well regardless of who happened to be President because of the rise of investment in new technologies like the Internet, mobile communications, satellite and digital entertainment, and so on. The boom still went bust, and the deregulation contributed substantially to the subsequent economic crisis of 2007-2008. And median real income for men has been flat since 1967; median family income has increased by 25%, largely as a result of women entering the workforce, but the average hourly wage in constant dollars peaked in 1974. Clinton's embrace of Reaganomics and deregulation bear as much responsibility for the economic fuckery of the past four years as Bush does.

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