Guns & Butter
I was reading stuff from my retirement account and saw that last years’ best performing fund was one that held stocks from developed countries other than the U.S.
This is what Joe Higgins would call “another sign of republican economic prosperity" like when you see somebody pushing their broke-down car off the road.
The Bushites like to say that their guy is carrying on the legacy of the sainted Ronald Reagan. Actually it’s been worse than that as Bush had a republican congress for 6 years so the lunacy has been unchecked.
The national debt today is $8.8 trillion, or $29,000 per person, half again what it was when Clinton left office, and Clinton had balanced the budget for two years, actually starting to pay down the debt for the first time since 1940.
And we thought we had it bad when Reagan left us $3 trillion in the hole!
David Johnson on the Marketplace show today talked about traders being skittish today after rumors that an American ship had been fired on in the Persian Gulf, and that the Brits had launched a raid to free their sailors held by Iran. Those guys know we could have $100 oil overnight, and know what that would mean to the world economy.
At least when Reagan picked a war with somebody, he chose some chump spot like Grenada or Libya. If we let President Chucklehead have his way, he could make a big mess before he leaves office. Let’s impeach Cheney first.