No More Twofers——Why The Vaunted “Clinton Prosperity” Of The 1990s Is A Risible Myth
That Hillary Clinton has—–unaccountably——stood by her man for 40 years is her particular foible. But now she wants 320 million Americans to stand by him, too, by electing her President so she can make Bill the nation’s economic czar:
During a speech in Kentucky Sunday she referred to “my husband, who I will put in charge of revitalizing the economy ’cause he knows what he’s doing.”
Actually, he doesn’t.
Herein follows a two-part essay on why Bill and Hillary Clinton had precious little to do with the vaunted prosperity of the 1990s, and why another twofer would be exceedingly bad for the nation.
In truth, it was the doing of Alan Greenspan, and not in a good way.
In fact, the roaring tech era prosperity was but an old fashioned crack-up boom. That is, a simulacrum of prosperity that was an artifact of monetary inflation and financial speculation. It was not merely unsustainable; it was guaranteed to boomerang against the future, and it has in spades.
In fact, the Greenspan Boom was the very fount of the financial toxins which have plagued this century. To wit, the housing and credit implosions after 2007, the stock market meltdown and the collapse of the Wall Street gambling houses in 2008-2009, the disabled, stall-speed main street economy since the crisis, the unspeakable windfalls to the 1% enabled by NIRP and QE and the desperation in the flyover zone of America that begat Donald Trump—-all had their roots in the 1990s monetary perfidies of Easy Al.
None of the Cool-Aid drinking “economists” of Wall Street or Washington are capable of exposing the Clinton Prosperity myth, even if they were politically inclined. That’s because they are linear-thinking paint-by-the-numbers practitioners of one or another form of the Keynesian gospel.
…click on the above link to read the rest of the article…
