Recently, a letter writer wrote about our sick economy saying, “It wasn’t so bad under Democrats.” It’s always such a pleasure to burst this bubble – as in dot.com bubble.
I’m no computer whiz but I know how to call up the financial markets on a search engine and view the 5-year charts for the Dow Jones Industrials, the Nasdaq, the Standard and Poor’s 500, etc. A quick and honest look tells us the tale.
The financial markets, which tend to reflect the future economic conditions, are shown rising through 1999 but level off early in 2000. Between March and the end of year 2000 the Nasdaq index dropped more than 50 percent. The Dow Jones and Standard and Poor’s 500 stayed flat for the first nine months and then slumped off in the last quarter and continued mostly falling up until now.
Who was still in the White House in 2000, bragging about his “great economy” as everything began flushing down the toilet? It was not the Republican president who inherited this economic mess the following year along with the energy and national security crisis.
Good economies do not start disintegrating in the last year of a competent administration.
Lake Stevens
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