On Oct 3, 2007, at 11:57 AM, Carl Remick wrote:
> Looking back on the Clinton years all I see is speculation and
> overinvestmet that created temporary mass wealth and employment that
> has now dissipated. I see no reason to celebrate a binge that is
> certain to be followed by a purge. Capitalism has no word for
> "sustainability."
Yeah, except it's managed to grow enormously over several centuries, hasn't it?
The second half of the 1990s were the only period in the last 30 years in which real wages rose across the entire income distribution. The black poverty rate fell sharply to a record low. These good things were obviously the byproduct of a bubble, but they were real, and people have good memories of them. The Bush years have been very crappy for the working class - as was the first Bush admin.
You could say - I might, though I'm not sure of this yet - is that the two parties serve as a kind of balancing act for capital. When things get too boomy, it's time for the Reps to come in and tighten the masses' belts. When the population gets restive after the round of austerity, it's time for a Dem to come in and throw the masses a few bones. We're on the verge of a bone-throwing phase, I guess.
Doug