Republicans inherit prosperous, booming economies with broad-based, widespread middle-class prosperities and crash them. Democrats inherit the smoldering ashes of Republican economic devastation and turn them back around to booming prosperity.
It’s what they do.
Republican significant market collapses in the last 100 years:
1929 — after nine years of Harding / Coolidge / Hoover
1987 — after seven years of Reagan
2008 — after seven years of Bush
2020 — after three years of Trump
Democrats: NONE
Republicans always have someone else to blame for their economic disasters. But the reality is that, less than two years ago, Elizabeth Warren predicted that Trump was headed for an economic collapse, echoed a few hours later by Robert Reich in agreement. It has long been expected that incompetent Trump would crash the economy; we just didn’t know what the immediate precipitating cause would be.
Some of us were paying attention and listened. After Warren and Reich issued their back-to-back warnings, I moved all my investment, savings and retirement funds out of stock/bond-based mutual funds and into straight interest-bearing money market funds. So many people ridiculed my choice, saying I was missing out on the “hot” stock markets while the Obama prosperity was still running on inertia before Trump had time to kill it.
I hate to say, “I told you so…” and I mean, really, I hate to say it, because so many real lives of real people will be hurt as they join the legion of Trump victims.
Republicans inherit prosperous, booming economies with broad-based, widespread middle-class prosperities and crash them. Democrats inherit the smoldering ashes of Republican economic devastation and turn them back around to booming prosperity.
It’s what they do.
Republican significant market collapses in the last 100 years:
1929 — after nine years of Harding / Coolidge / Hoover
1987 — after seven years of Reagan
2008 — after seven years of Bush
2020 — after three years of Trump
Democrats: NONE
Republicans always have someone else to blame for their economic disasters. But the reality is that, less than two years ago, Elizabeth Warren predicted that Trump was headed for an economic collapse, echoed a few hours later by Robert Reich in agreement. It has long been expected that incompetent Trump would crash the economy; we just didn’t know what the immediate precipitating cause would be.
Some of us were paying attention and listened. After Warren and Reich issued their back-to-back warnings, I moved all my investment, savings and retirement funds out of stock/bond-based mutual funds and into straight interest-bearing money market funds. So many people ridiculed my choice, saying I was missing out on the “hot” stock markets while the Obama prosperity was still running on inertia before Trump had time to kill it.
I hate to say, “I told you so…” and I mean, really, I hate to say it, because so many real lives of real people will be hurt as they join the legion of Trump victims.
continues…