Posted on 07/18/2002 11:54:31 PM PDT by JohnHuang2
Edited on 07/12/2004 3:55:45 PM PDT by Jim Robinson. [history]
Lawrence Lindsey, the director of President Bush's National Economic Council, was routinely mocked for the skepticism he expressed during the late 1990s and in 2000 as the stock market soared to unprecedented heights. With the Dow Jones Industrial Average closing last week more than 25 percent below its January 2000 peak (reflecting a loss of more than 3,000 points), the Nasdaq closing nearly 75 percent below its March 2000 peak and the S&P 500 closing 40 percent below its March 2000 peak, it is safe to say that Mr. Lindsey's skepticism was well-placed. Having incurred steady ridicule for perceiving the stock market's expanding bubble long before it burst, Mr. Lindsey has surely earned the right to be heard now.
(Excerpt) Read more at washtimes.com ...
BS! I CLEARLY remember the recession began during Clinton's last year. I acutely remember because I was thrilled to say the least that I could remind all of my Clinton-loving aquantances that the recession OFFICIALLY began under Clinton. Now what is the BS about less than six weeks after Bush became president?
The market was propped up by liars in the brokerage firms.....all kinds of liars from analysts to those who were happy to pass along those lies from the accountants.
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