I have been thinking about this since Trump got it. As I watch my stocks lose money and slight panic sets in I did some checking myself on who was President when. I did not delve as deep as Congress. I think another research project into the actual policies and decisions by the Republicans in power leading up to the crashes would be interesting, as well as an in-depth look at the finances of the Republicans who held power during that time. How well did they manage to milk the system and line their pockets before everything crashed and everyone else suffered. I would like to see tax returns for all the Congressmen and President from before they took office till ten years after they leave to see just how much they are grifting from the job. It is like they are in power and doing favours for lobbyists for all these huge multi-national firms that are responsible for machine guns on the street, pollution of our water and air, then when they get out of office they get a really cushy job with huge huge money in salary and benefits for doing absolutely nothing…payback for favours rendered. This stuff should be tracked for every person who enters politics and tampers with the rights, freedoms, financial well-being and health of the people he was hired to serve.
I was watching tonight’s 60-minute spot on McCain & Obama, and started to reflect on the extensive coverage (and rhetoric) on the status of our economy and its effect (or blame) on politics. One argument I hear over and over when someone is defending their own party (or damning another) during an economic crises is that the it is the result of the previous administration(s) and not the current one, or that Congress is to blame and not the President (or vice-versa), etc. So I thought I’d do a little exercise to see for myself.
The exercise was as follows: I looked up the dates of the 12 “sharp” recessions and depressions over the past century (including the current crisis), ignoring so-called “mild recessions” (such as the 1991-1992 downturn), as classified by Geoffrey Moore (note that the National Bureau of Economic Research lists 20 “downturns” since 1907, but not…
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