Re: [NYT] Slowdown at Home Spells Risks Abroad for Bush.

From: Gregory Alan Bolcer (
Date: Mon Jan 08 2001 - 08:34:56 PST

I just finished moving & one of the things I found
is a small pulp paperback which is sent out as an
advertisement to a newsletter sent out by Lord William
Rees-Mogg and John Dale Davidson, two very well known
economists who aren't afraid of telling people their opinions
as they were correct in predicting the 87 stock crash, the
fall of communism 6 months before the CIA had any clue, etc.

One of the books is Clinton: Story of a One-Term President.
The title isn't so much a Clinton slam (as of course he's
a two-termer), but they predicted a fundamental change in the
business cycle and in this period of transition, there would be
a series of one-term presidents due to economic upheaval.

He's also a great believer in the digital divide, and says that
if you aren't making more than $1M/year, then you're one of the

Pretty bold statements, but I only mention it as I wonder
if we're going to see another string of one-termers? Anyways,
I hope they give him a chance actually being president before
they write him off. I personally feel that the elder Bush got
screwed for breaking his no new taxes pledge by making a compromise
with a then-controlled democratic congress. I would list that '90-'91
agreement which elderbush got all the near term ill effects of raising taxes
and the new administration got all the halo effects of cutting
spending as the thing that nobody gives him credit for.


Adam Rifkin wrote:
> "The sharp slowdown here alarmed the Fed so much..." Huh? Wasn't the
> Fed all but forcing this slam-on-the-breaks with six quick interest rate
> hikes? Can an economist among us please tell me why they had to slam on
> the breaks so quickly anyhow.
> Clinton has gotta be the luckiest President we've ever had. He's
> probably going to go down in history as the man who presided over the
> country during a period of unprecedented peacetime expansion in between
> twin Bush recessions. How's that trade deficit treating us? Miserably...

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