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Response to ananda (Reply #75)

Fri Jul 24, 2015, 02:55 PM

79. life was better then,

 

in the same way that a heroin addict's life was better when they first started doing heroin. More accurately, it was better in the same way that life is better when a gambling addict is winning.

The Clinton economy was three bubbles and a ponzi scheme. The tech bubble deflated enough before it burst that it didn't do much harm, but the other two bubbles (mortgage, trading) didn't burst until 2008. The repeal of Glass-Steagall and neutering the commodity futures trading commission (CFTC) combined with the systematic, intentional firing of effective regulators and hiring of wall street insiders as wall street regulators all happened during the Clinton administration under the watchful eye of Allen Greenspan and his acolytes Tim Geithner, Larry Summers, Ben Bernanke, and the rest of his Ayn Rand worshipping sociopaths.

The economy wasn't better.

It had been boobytrapped. It was set up to seem like all was well, but it wasn't.

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Cali_Democrat Jul 2015 OP
artislife Jul 2015 #1
1StrongBlackMan Jul 2015 #5
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DCBob Jul 2015 #2
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ananda Jul 2015 #75
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