Friday, December 30, 2016
Coolidge and Clinton
John Hinderaker:
Blaming the Depression on Coolidge is moronic, but I have always wondered why liberal economists, to be consistent, don’t blame the dot.com collapse and ensuing recession on Bill Clinton, thereby negating the supposed economic achievements of his administration. That would make a lot more sense, actually. Not everyone remembers - most would prefer to forget - that the NASDAQ dropped from 5047 to 1114, a 78% decline, between March 2000 and October 2002. This was the mess that greeted George W. Bush when he took office. Funny how the press never uses that disaster to negate the achievements - which in a few respects were real - of the Clinton administration.
