Baker on bubble

[pms]

Hey Maxie, you might mention to your friend Baker that the low unemployment
might be looked at as an employment bubble.  The missing rise in inflation
from this bubble was due to the dollar bubble.  I often wonder if this
employment bubble was created.  I wonder if Clinton could have ever
destroyed welfare without it.  I wonder if the bubble can be reinflated
after the next dem prez gets in so's they can destroy Soc Sec.  I wonder
also how many people big capital has working on this stuff.  Among other
things.

snip
Politics played a large role in the story, and the blame is bipartisan. The
Democrats under President Clinton were happy to take credit for the nation's
prosperity at the end of the 1990s. Although some of the prosperity was real
(e.g., the lowest unemployment rate in 30 years), the bubble part of it was
not. But there was little political value in calling attention to this fact.
The Republicans did not want to burst the bubbles because the illusory
prosperity provided the revenue to pay for their tax cuts.

http://commondreams.org/views02/0627-04.htm