bond market under Reps."
The Dow high was 12,000 under Clinton, right? Under Bush, 14,000. I admit I am surprised, though. I basically agree with you.
BobW
--- Doug Henwood <dhenwood at panix.com> wrote:
> On Oct 3, 2007, at 11:17 AM, Michael Smith wrote:
>
> > On Tue, 2007-10-02 at 16:27 -0400, Doug Henwood
> wrote:
> >> And outside the south, there was
> >> no correlation between income and party vote.
> Now, income correlates
> >> closely with party vote.
> >
> > Doug, perhaps I'm missing your point here, but
> doesn't the
> > correlation you cite demonstrate only that people
> *think* there's
> > a difference -- it doesn't really imply anything
> about the
> > veracity or well-foundedness of that belief. Or am
> I
> > missing something?
>
> Stonecash also cites analyses of Congressional
> votes. That's not
> perception.
>
> >> Yes the Dems have moved to the right
> >> compared to the New Deal/Great Society days, but
> nothing like the
> >> Republicans have moved to the right.
> >
> > Even if we grant arguendo that there might be real
> differences
> > on particular issues -- I think they're more
> verbal than real,
> > myself, but let's leave that aside for a moment --
> isn't the fact
> > of their agreement about the country's direction
> more important
> > than anything else? If they're both marching over
> the cliff,
> > does it really matter that the Dems are marching
> in second place?
>
> I'm not about to embrace the Dems. But it's just not
> true to say
> there's no difference between the parties, and that
> there used to be
> more of one. Both those things are empirically
> wrong.
>
> And how do you explain the contrast in economic
> performance? Growth
> in GDP and employment is stronger under Dems. Ditto
> growth in incomes
> at the 20th percentile. Dems are more inflationary
> and Reps
> disinflationary. The stock market does better under
> Dems, the bond
> market under Reps. Yeah, it's still capitalism, and
> a sucky version
> of capitalism, but these are real differences.
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