Saturday, April 16, 2005

You've got to admit it's getting better ...


... or maybe not. Not a trader myself, but I still don't like seeing the word "carnage" in an article on the stock market.

Since 9/11, pundits on the Right have tried desperately to create an economic boom by the simple expedient of just pretending one was already in progress. You can probably talk a boom up (even to the point of silliness and ultimate calamity, a la the 90s "tech stock bubble") but talking one into existence ex nihil is a taller order.

Not that I'm altogether in agreement with those on the statist Left who try to lay the blame for all economic woes at the feet of the Bush administration. If anything, Bush has been following the standard state Left prescription of "priming the pump" -- massive deficit spending, pork feeds to to the military-industrial complex, etc. And he's largely had to play the cards he's been dealt.

It's not so much that Republicans are responsible for America's economic troubles (at least any more so than Democrats) as that they're trying to blow smoke up our asses and convince us that those troubles don't exist. As Daily Kos points out, the picture's not as rosy as the RNC would have us believe.

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