"It's the economy, stupid"?greenspun.com : LUSENET : TB2K spinoff uncensored : One Thread
First, let me say, I'm a Bush supporter. Also, let me add I know Clinton is a proven liar and so is Gore. Now you know my politics.
The Democrats have been crowing about the economy. Mr. Gore said, "…are you better off than you were eight years ago?" They keep implying, "it's the economy stupid." Well, my first response to them is "have you been watching the stock market tank?" And "will you accept responsibility for that too?" Right now no one is talking about the NASDAQ losing 40% of its value since April and most of it since the election. Also, the rich have gotten richer and the poor have gotten poorer under Clinton/Gore and I use as my example, yesterday, Thanksgiving Day. It was reported on my local television station how there are more homeless than ever before and a record number of hungry men, women and children were fed at local shelters. As an added point, the minister in charge commented that the new rich are donating less. They reported that cost have gotten so high peoples incomes are not able to fill the disparity. People have been forced to make choices about whether to pay the rent or buy food. If they pay the rent, they can't afford food. If they don't pay the rent they become homeless. These people are the working poor. Sure they have a job (lowest unemployment since God they crow) but the very ones who claim to "feel your pain" have left behind the poor. The Democrat Party has staked a claim on the "disenfranchised" in America but they appear to me to be false prophets. Surely I have made a mistake, aren't I confused about which party has abandoned the poor. Have left the poor in the worst schools in the nation. Have ignored their pleas for a helping hand not a hand out. I must really mean it's those "old mean spirited Republicans" that have perpetrated this "crime against humanity".
As a conservative, I am offended that we are always portrayed as the most uncaring people. That the liberals hold all claims on caring. I think the proof is in the stuffing (so to speak).
-- Ooops (Ooops@slipofthetongue.com), November 24, 2000
Right now no one is talking about the NASDAQ losing 40% of its value since April and most of it since the election.
I think if you did some checking, you'd find most of the Nasdaq's fall from the 5000 level happened before the election.
There is no question though that the economy is slowing. The Fed has raised interest rates six times since June 1999 to the highest level in nearly a decade. The rate hikes are having an effect. The corporate bond markets are having problems this year, too.
The election is having a temporary effect on the stock market, but where it'll be next year depends more on interest rates and whether the Nasdaq is under- or over-valued.
-- Trends (firstname.lastname@example.org), November 24, 2000.
How about the Euro's recent collapse and also that of the Australian Dollar? If interest rates are forced up in Europe, rates in America must also go up or else money will flow toward Euroland. As far as the NASDAQ is concerned, there are still a lot of money-losing dot.coms running on inverstor's capital teetering on the brink and due to collapse next year. How's Amazon doing these days? My favorite to watch is Microstrategy (MSTR).
-- Financier ($$$@bubble.con), November 25, 2000.