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It's a boom-bust cycle. We went boom under Clinton, we went bust under Bush. We'll go boom again in 10-15 years.
A few observations:
- Can it be the past 10 years of economic growth has been illusory? Is growth merely not just the concept of of when things are done better/faster/ and more cheaply? Don't get me wrong we are the industry leaders in a lot of departments (aerospace, software, computer design, etc.) However there has been too much emphasis on the skills of accountants and lawyers in this day and age.
- Technology has took the backseat to the fields of business. Just look at engineering enrollment, for example. This business world creates a universe where everything is embedded in a circular pattern, any value that is thought to be created is just spun around other business people and nothing gets gained. This is not their fault, hence this is the way our country works. If we spent more emphasis on technology, there is ultimately a GAIN in this field and thus creates a wave of good news, IMO.
- Growth once again gets promoted by technology production and the US is lacking in that part. So what is the underlying problem? It is education. And this is a problem that is intrinsic and therefore nothing of the sort that a president can cure.
thoughts?
It's a boom-bust cycle. We went boom under Clinton, we went bust under Bush. We'll go boom again in 10-15 years.
It's that damned MTV.
President Clinton gave away our secrets and manufacturing to the Chinese.What has happened to our technology boom?
the weak dubya "boom" was really a debt boom, from consumer debt, and the housing bubble boosted by Greenspan's super low interest rate (0% after inflation adjustment), as opposed to a boom in real wealth.
The capitalists did very well, the corps did pretty well, GDP was OK, but there was little job creation under dubya, not enough to keep up with population growth, and wages and household income stagnated and declined.
dubya's boom was very weak, esp for lower 95%, now the bust will be real strong for the lower 95%. the top 5% are so wealthy, they are insulated from hardship
Looks like somebody's still living in the 90's.
Anyone that believes anything wall street or the white house tells you, has for brains.
yeah, because the clinton boom was formed by having .com to your name. companies that didn't make any profits saw their stock prices rise... well, in the end it collapsed. yeah, great clinton economy
Tell that to Google or , Mark Cuban for that matter...
the tech boom saved clinton
I disagree. I think globalization and the endless pursue for cheaper labor and cost reduction is what did it.
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