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12/07/2003 Entry: "Economics - The map and the territory"

"The US economy has recovered from the worst part of the downturn in employment that we experienced during the spring and summer of 2003. Put another way, the labor market has almost (but not quite) clawed its way back to where it was throughout most of 2002. Unfortunately, the third quarter boom in the economy may well already be petering out."
Kash, Angry Bear blog, December 5, 2003 (via MaxSpeak)

What you don't see on this chart is how many lives have been ruined by the bush junta's economic jinx. Who's lost their home? Whose kids aren't going to college? Whose heath is fucked without benefits? God, I wish this chart went back to 1990- or even 1980- the present. Then you could see what we've really lost to fear, greed and anger.

And no matter what the Baffler wants me to believe, it wasn't just the Tech bubble.

"'The dollar crisis is the story,' warns James Harmon, an investment banker who headed the Export-Import Bank during the Clinton administration. 'A lot of smart money has moved out of the dollar in the last six months,' he explains. 'Now the latecomers are rushing to sell, and that's adding to the momentum.'

"Right after Clinton won the election - before he had even had a chance to take the oath, economists said we had an extra-good Christmas because they knew help was on the way.

"After he was swore in, Wall Street saw he was paying down the deficit. This gave them some incentive to bet on America, and others flocked to bet on America, too.

"The reverse is true about the wild-spending Chimp.
"Wall Street is afraid to bet on him because he brought back the Reag-Bush decifits.
"And other countries certainly won't bet on America because what have we become?
"An out-of-control bully who nobody can stop from stealing the world's assets.
"This will continue until America gets the vote back from the Supreme Court."
Today's link for BartCop, December 5, 2003, will be THIS LINK when the new page is up.

 

 

 

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