scottw
12-24-2014, 05:15 AM
Dow hit 18,000.....GDP reported way up
this article from the ATLANTIC from 1995 is fascinating....history does repeat whether we like it or not...
http://www.theatlantic.com/past/politics/ecbig/gdp.htm
"The Clinton Administration waited expectantly, but the applause never came. Voters didn't feel better, even though economists said they should. The economy as economists define it was booming, but the individuals who compose it--or a great many of them, at least--were not. President Bill Clinton actually sent his economic advisers on the road to persuade Americans that their experience was wrong and the indicators were right."
"Ample attention was paid to the symptoms: People were working longer hours for less pay. The middle class was slipping while the rich were forging ahead. Commutes were more harried. Crime, congestion, and media violence were increasing. More families were falling apart. A Business Week/Harris poll in March imparted the not surprising news that more than 70 percent of the public was gloomy about the future. "
http://blogs.wsj.com/washwire/2014/10/20/americans-gloom-marches-into-second-decade/
http://www.cnn.com/2014/10/29/politics/cnn-poll-economy/ (call this grim but hopeful)
"Sounding much like the guidance department of a progressive New York grammar school, the Clinton Administration said that Americans were simply suffering the anxieties of adjustment to a wondrous new economy. "
this article from the ATLANTIC from 1995 is fascinating....history does repeat whether we like it or not...
http://www.theatlantic.com/past/politics/ecbig/gdp.htm
"The Clinton Administration waited expectantly, but the applause never came. Voters didn't feel better, even though economists said they should. The economy as economists define it was booming, but the individuals who compose it--or a great many of them, at least--were not. President Bill Clinton actually sent his economic advisers on the road to persuade Americans that their experience was wrong and the indicators were right."
"Ample attention was paid to the symptoms: People were working longer hours for less pay. The middle class was slipping while the rich were forging ahead. Commutes were more harried. Crime, congestion, and media violence were increasing. More families were falling apart. A Business Week/Harris poll in March imparted the not surprising news that more than 70 percent of the public was gloomy about the future. "
http://blogs.wsj.com/washwire/2014/10/20/americans-gloom-marches-into-second-decade/
http://www.cnn.com/2014/10/29/politics/cnn-poll-economy/ (call this grim but hopeful)
"Sounding much like the guidance department of a progressive New York grammar school, the Clinton Administration said that Americans were simply suffering the anxieties of adjustment to a wondrous new economy. "