Posted on 12/01/2003 8:41:56 AM PST by The Rant
The Commerce Department this morning announced that the economy grew at an astounding 8.2 percent in the third quarter of this year the fastest pace in nearly two decades and higher than previously reported. This comes at a time when the Democratic presidential candidates would have liked exactly the opposite. Now they are without a talking point on economics for their troubled bids for the highest office in the land.
At the beginning of their campaigns they tried to use the economy as a talking point. While the markets were well beneath the psychological 10,000 mark, they were able to assert that the economy under George W. Bush was the worst in history. They talked about corporate corruption and the loss of jobs. But while the Democrats propagandized about the marketplace being in dire straights the business community and the economic outlook for the United States was already talking an upswing.
The fact of the matter is that there were two reasons for the troubles the economy saw at the beginning of the Bush years, the tragic events of September 11th and the false prosperity of the 1990’s
The 1990’s saw the techno-stock boom. Company after company that had no product but had a website, consultant after consultant that sold nothing, and IPO after inflated IPO caused a false prosperity in this country. People were doing nothing more that starting companies on paper that had no product and were going IPO to the tune of millions of dollars. It wasn’t until the marketplace, not the most discerning group, realized that the economy was a paper-tiger did they act to bring the market’s indicators back to where they should have been all along.
Also in the 1990’s we had the most number of high-level corporate scandals in US History. The Democrats would have you believe that because they were caught after President Bush took office that the failure was his. The fact of the matter is that all of the crime took place as the Clinton Administration’s Security & Exchange Commission stood delinquent in enforcing any of it’s rules and standards. While it cannot be said with certainty that this was done on purpose it cannot be denied that it is a possibility. After all, Bill Clinton was more worried about the legacy he would leave behind than many things that took place during his time in office.
Then we have the fickleness of the stock market after September 11th. People, uncertain of what lay ahead did what humans usually do and pull their money closer to them. Not only did they get out of the markets but they also started shopping closer to home, which led to declines in corporate profits. Only after President Bush replenished the certainty of national security, only after we moved the front of the War on Terror to their soil instead of ours did the American public start to re-invest in American companies. The fault of this event lies with the negligence of another presidential administration that didn’t act to kill Osama bin Laden when the chance presented itself. I suppose golf was too important.
No, the Democrats have truly lost the talking point on the economy. Now they have one less thing to spin at their disposal. Hopefully, one by one, each of their propaganda points will be eliminated so that the American people can see what they really stand for, the lust for power at any cost.
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Frank Salvato is a political media consultant, a freelance writer from the Midwest and the Managing Editor for TheRant.us. He is a contributing writer to The Washington Dispatch, and various other sites. He has appeared as a guest on The O’Reilly Factor, The Kevin Matthews Radio Show (Chicago) and The Brad Messer Radio Show (San Antonio).
Yeah. When the security clearance prodedures at the airports became too cumbersome, I frequented the local mini-mart more often whenever I needed a loaf of bread. I used to prefer going out of state for those purchases.
I always figured if anyone could take an uninspiring presidency (to say the least) and spin it into a shining example of the best ever, it would be Bill Clinton, aka X42/rapist/perjurer.Instead, his legacy is looking more and more like a POS. I suppose the chickens do eventually come home to roost. LOL
Walmart is deeply saddened.
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