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You sound like you might be suffering from a slightly religious view of politics. I’d recommend just setting all that aside and try looking at all the data. C
by melling 7y ago
You sound like you might be suffering from a slightly religious view of politics.
I’d recommend just setting all that aside and try looking at all the data.
Consumer confidence is often pretty high before a sudden crash, for example. It doesn’t mean a whole lot.
Using selection bias (only looking at the good things that confirm your beliefs) is a bad formula.
Sooner or later we’ll have recession.
It may or may not be the fault of whichever administration is in office.
Jimmy Carter, for example, took a lot of heat for the economy. The high interest rates from the Fed slowed everything but it eventually fixed the economy. Reagan got all the credit.
- briandear 7y agoGiving Jimmy Carter credit for the boom in the 1980s is a bit of a stretch. Using that logic, George HW Bush should be credited with the boom during the Clinton years.
- melling 7y agoIt was all about the Fed. George Bush lost because of Fed decisions. The economy went into a brief recession. Bush was extremely popular after the first Iraq War. Unfortunately, rates went up... Paul Volcker was appointed by Carter. He really cranked up rates: https://www.washingtonpost.com/local/obituaries/2019/12/09/c744d596-1468-11e1-9048-1f5352187eed_story.html https://www.washingtonpost.com/local/obituaries/2019/12/09/c...