California on the Brink

[Urbane Guerrilla]

Originally Posted by Glinda

Yeah, because we were effin FLUSH under BushCo, et al.

Inherited a recession in 2000, not so? Recovered from same.

Inherited a recession in 1982 also. Recovered, and engendered a prolonged boom.

Republicans both times, btw, not that I think party has much to do with it. Maintaining an environment where profitability is both easy enough and reliably expected is the secret. No, I don't think you can honestly plead either poverty or even straitened circumstances attributable to anything but decisions you made. Not then, at any rate.

Now the story may turn out differently. What Obama's ideas will give us is an inflation cycle like the 1970s, which some few writing on this board are too young to remember, and apparently not sufficiently educated to know. Otherwise, you would have zero enthusiasm for the Democrats' inventing a couple trillions out of, well, nothing really.

[xoxoxoBruce]

SURPLUS.

[spudcon]

Originally Posted by xoxoxoBruce

SURPLUS.

Surplus what?

[xoxoxoBruce]

The surplus Bush took office with.

[sugarpop]

Originally Posted by Urbane Guerrilla

Inherited a recession in 2000, not so? Recovered from same.

Inherited a recession in 1982 also. Recovered, and engendered a prolonged boom.

Republicans both times, btw, not that I think party has much to do with it. Maintaining an environment where profitability is both easy enough and reliably expected is the secret. No, I don't think you can honestly plead either poverty or even straitened circumstances attributable to anything but decisions you made. Not then, at any rate.

Now the story may turn out differently. What Obama's ideas will give us is an inflation cycle like the 1970s, which some few writing on this board are too young to remember, and apparently not sufficiently educated to know. Otherwise, you would have zero enthusiasm for the Democrats' inventing a couple trillions out of, well, nothing really.

Those recessions were quite different from what Obama inherited. We were on the verge of a complete and total collapse of the financial system. We were on the verge of another Great Depression. And we do not yet know what effect the stimulus and other actions Obama has taken will have. It is too soon to tell.