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Response to Kall (Reply #27)

Mon May 16, 2016, 01:31 AM

50. The Stock Market is not a key indicator for the economy

and Stock Prices are not something we try to control with the government. We do not use government to tell people how to invest their own money on the stock market. Regulation of the stock market is focused on preventing fraud. But bubbles in stock prices are not something that we regulate.

From approximately 1997-2000 we experienced what some have called the dot-com bubble. Where there was exuberance in certain stocks with NASDAQ Composite peaking in March 2000 and that led to a major correction From 2001-2002. I have never heard it suggested by rational respected economists, that I read, any suggestion that the government should have intervened somehow at a point before the correction to deflate the bubble. Nor have I seen a valid argument for pinning the fault on Clinton.

Clinton took over an economy that was running deficits, and still coming out of a recession in 1992. He left the Presidency with a budget surplus and a strong economy.

From the wiki link for U.S. Recessions: The 1990s were the longest period of growth in American history. The collapse of the speculative dot-com bubble, a fall in business outlays and investments, and the September 11th attacks,[47] brought the decade of growth to an end. Despite these major shocks, the recession was brief and shallow.[48]

When the economy took a bad turn later in 2001, the new Bush administration should have put in place budget policy and any other policy to correct, stimulate, etc. The Fed also has a role in setting interest rates for stabilizing the economy. But instead of taking appropriate action the Bush II adminstration continued with policies of unwise tax cuts, unfunded wars and allowed the deficit to spiral.

Wherever you are getting your criticisms of Democratic Presidents economic records, I would suggest they are slanted from reality for some reason. This is obviously a very politicized issue. I look for economists that use model based analysis like Paul Krugman and others that belong to the "salt water school" of economics.

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