Quote from Pa(b)st Prime:
You're smart enough to know much of Blinders point is bullshit.
We'll talk the dollar/Reagan first. The dollar was VERY volatile in 84-87. In 84 or 85 the Pound was 1.05. The WSJ would have ads every day fror "grey market" German cars. The dollar crash in 87 was really just short covering and for all the ballyhoo of the 87 crash stocks still finished the year higher despite losing 22% in one day.
There's only one economic reason for dollar weakness. We buy everything abroad and export squat. Rates diffs, budget deficits all bs. Look at the Yen. Japan is a fiscal disaster with 3 times the per capita debt as the U.S. and interest rates of zero. Their currency is viable because of exports. Period.
Back to Blinder. Clinton economy was great. No two ways about it. But income stats and Dow stats are decieving because of inflation. For instance wage growth has been greater under Bush (or close) than to Clinton. Does it matter? No because prices paid are eating up the gains. It was the same thing with HST and LBJ wage growth. Wages bumping at 8% a year mean nothing if inflation is running the same. I grew up with Jack Bourudjian the guy who's on CNBC from the CME every now and then and I rememember him buying all these kick ass cyclicals in 83-85 because they hadn't moved up despite inflation increasing their book value 3 fold from the early 70's. He mopped up. Was the stock market rally a "bull item" for America? Not really because it wasn't based on productivity gains just inflation gains. IMO we'll see the same thing again. Stocks will exceed by a few cents not because of better business but because of inflated prices. A can of KO just moves higher so naturally KO rev keeps pace. It's a false premise to judge economic strength.
In all honesty I haven't really seen an iota of correlation between Presidents and economic policy. In general I'd say a GOP congress has corelated to some good times but that's not a fer sure either. I've said for years if government was an arbiter of markets then why not bring in Hu Jintao.![]()
www.chrismartenson.com/failure-to-save this is what our dollar is worthQuote from Trader5287:
Pabst,
I know where Blinder comes from and I've always blamed James B. yelling at the Germans over Dollar/DM for precipitating the Crash. That said, how do we explain the Clinton years? I think Greenspan (who hated Dems} has the answer in his book where he talks about meeting with the new President and getting him to agree to walk away from his lofty campaign spending pledges to get the bond vigilantes to back off - the economy ripped after that is pretty much AG's assessment.
I don't know what you came here to debate or not. I write what I know and what I feel is relevant. You do the same, but try to stay civil because insults have a way of getting back at you.Quote from kut2k2:
Look I didn't come here to debate abortion politics. I have no use for your god or any other god, as is my First Amendment right, so that mystical mumbo jumbo is a nonstarter with me.
But I do have a word about that abortion = slavery horseshit your ilk likes to toss around these days.
The people who were the abolitionists were the LIBERALS, not the conservatives of their day. The same people who are anti-choice on a women's reproduction rights today mostly would have been pro-slavery back then. Because while you just "think" the bible condemns abortion, I know it condones slavery in both the Old and the New Testaments.
Would you please explain how you are using the verb to CondoneQuote from Yannis:
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Btw, Judaism and Christianity never condoned slavary or capitalism or any other human social/political scheme. They address our inner world. "Love thy neighbor as thyself" should cover it all in terms of social relationships.
The GOP has been the party of Lincoln in name only since they got rid of Eisenhower. Moving on ...Quote from Yannis:
I don't know what you came here to debate or not. I write what I know and what I feel is relevant. You do the same, but try to stay civil because insults have a way of getting back at you.
Abe Lincoln was a Republican, it's a fact. Now, which of the two parties of today is closer to his ideals is up for debate - you say one thing and many others say the opposite. What else is new.
My post was about the evolution of human rights, not about religion per se. Btw, Judaism and Christianity never condoned slavary or capitalism or any other human social/political scheme. They address our inner world. "Love thy neighbor as thyself" should cover it all in terms of social relationships.