Sunday, August 19, 2012

I Don't Think We Need Another Bill Clinton

Bill Clinton was no economic genius when he was President. A good part of the success of Bill’s eight year run as President of the United States was due to two things. The first thing was a fraud and the second was Ronald Reagan, yes Ronal
d Reagan. The Dow Jones Average had never advanced more than during the Clinton era. Unemployment was low, very low. It was so low that bars and restaurants in major cities couldn’t find help because if you could chew gum and walk straight you had a job at a dotcom startup making $100,000 a year.
First the fraud - Analyst were allowed to cook up this hair brain idea that a startup company making no money could be valued on the stock market at forty, fifty and sixty times earnings, thus giving them billions to employ people while still generating losses. Well, we now know how that ended, poorly with the dotcom bust of 2000.
Second Ronald Reagan – Due to Ronald Reagan and George Bush’s twelve years in office their leadership in foreign affairs destroyed the Soviet Union thus opening up, once enslaved countries, to U.S. goods and financial institutes. The stock market took off like a rocket and the party started.
The only thing Bill Clinton did was, not get in the way of history in the making!!! – N.P.Contompasis

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