Berkeley CSUA MOTD:Entry 33283
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2025/04/04 [General] UID:1000 Activity:popular
4/4     

2004/9/1 [Politics/Domestic/President/Clinton] UID:33283 Activity:high
9/1     Commerce Secretary Donald L. Evans:
        On the Clinton recession and the early stages of Bush prosperity --
        "This president inherited a Clinton recession and turned it into the
        early stages of Bush prosperity ... When you look at all of the
        economic data collectively, you can't do anything but conclude that
        this is a very strong economy, it continues to get stronger, it's a
        resilient recovery we have under way, we're in the early stages of
        Bush prosperity. But, yes, there's always more work to do, because
        you want to make sure that everybody in America that wants a job has
        a job. The president will talk about more work to do. He will talk
        about making the tax cuts permanent. He will talk about an ownership
        society."
        \_ We've turned the corner! Re-elect Hoover in '32! Four more years!
        \_ Please don't troll the csua socialists.  A frothing socialist is
           not pretty.  They do that enough on their own without you baiting
           them with how well the economy is recovering from the excess of
           the Clinton years.
           \_ Hey, bub, didn't you get the message?  The motd is
              republican-landia, there are no socialists here.
        \_ Yep, everything's fine:
           http://www.fool.com/News/mft/2004/mft04090118.htm
2025/04/04 [General] UID:1000 Activity:popular
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Cache (2603 bytes)
www.fool.com/News/mft/2004/mft04090118.htm
Bill Mann (TMF Otter) September 1, 2004 In his speech last night at the Republican National Convention, California Gov. Arnold Schwarzenegger pinged folks who are pessimistic about the state of the US economy, calling them "economic girlie-men." On a personal level, I thought it was a pretty funny line, and there's certain comedy to the fact that Arnold gets to spoof a line that was used on Saturday Night Live to spoof Arnold. I'm afraid that the Federal Reserve has backed itself into a corner. I'm afraid that lending discipline among mortgage companies has completely collapsed. I am concerned that low interest rates have been used to entice the American consumer to clean up a recession borne by an irresponsible corporate spending binge by going on one of his own. I'm afraid that the $200 billion-plus that Americans have cashed out of their houses has been spent, and the next drop in interest rates won't be concomitant with a rise in prices; rather, it will be because of a full-fledged financial emergency. Here's another thing: I'm not someone rooting for things to be worse. I don't think people can get rich by buying houses from one another for ever more money. I don't think that the path to ultimate financial success is to borrow more; it doesn't work on an individual level, and it sure as heck doesn't work on a national level. The failures, of course, can jump back up, try again, and THEN succeed. But the talk of how many jobs some president has created or lost (as if) turns what is great about America right on its ear, because if I know one thing about economics, it is this: There aren't a few smart folks in a room somewhere controlling things. In fact, the more smart folks try to control the economy, the more things tend to get screwed up. More importantly, I believe that the efforts to forestall the cleansing of the billions of dollars of horrendous investments in bad businesses from the last decade will ultimately wreak more destruction. The longer such cleansing is delayed, the more wrenching it is going to be. What we've seen in the last two years is the return of speculative excess, if you will, another layer of miserable capital allocation decisions. SelectQuote can help you protect your family with Term Life Insurance coverage for as little as $1 a day. Contact us by phone or online and a licensed agent will provide you with a personalized quote based on your unique needs. California Health Insurance Quote Purchase Health Insurance for Small Businesses and Residents of California. Get California Health Insurance for Individuals and Small Groups.