Reagonomics . . . 4
was the predecessor of Bushonomics, and about as destructive.
Paul Krugman (emphasis added):
But where . . . was the clear declaration that Reaganomics failed?
For it did fail. The Reagan economy was a one-hit wonder. Yes, there was a boom in the mid-1980s, as the economy recovered from a severe recession. But while the rich got much richer, there was little sustained economic improvement for most Americans. By the late 1980s, middle-class incomes were barely higher than they had been a decade before — and the poverty rate had actually risen.
The Republican Party, now and ever the Party of Privilege.
Via Susie.
January 21, 2008 at 7:22 pm
And the robust economy under Clinton was sustainable? I don’t think so. The democrats were the benefit of the .com era – or as Alan Greenspan called it “irrational exuberance.”
January 22, 2008 at 8:42 pm
I think liberals engage in self-delusion when they try to write the Republican Party off as the party of the rich. If only the top ten percent of the electorate supported them, they’d never win an election. The truth of the matter is that the Republicans represent ideas that a large swath of the middle class supports.
January 23, 2008 at 7:49 pm
One bubble and another bubble.
Howsomever, the failure to regulate the dot commers can be sort of be explained because dot comming was a new phenomenon fueled by a lot of stupidity, not the least of which was the idea that people would pay to do things over the internet, such as shopping for groceries, that they could more cheaply do in person.
It was more closely related to the Tulip Bubble.
The failure of businesses to do business properly–
Oh, yeah, and Republican say the nation should be run more like a business . . .
Ameriquest?
(Aside to Opie: I didn’t say they were the party of the rich. I said they were the party dedicated to making the rich, richer, and the poor, poorer. As such, they know they have to
bamboozleappeal to other people.Hence the fictions of “family values” (Craig, Vitter, Abramoff) and
trickle downvoodoo economics, amongst others.)January 23, 2008 at 9:58 pm
So those of us who vote Republican have been bamboozled?