Quote:
Originally Posted by flere-imsaho
Sure the 70s had gas lines and stagflation, but I remember a considerably worry at the end of the 80s that everything that had been improved in the previous decade was going to be lost. And then say what you want about the ephemeral nature of the dot-com boom, but at least part of the boom in the late 90s was the catapulting of the American economy into the forefront of innovation (specifically the relentless commercialization of innovation - which is a good thing), the birth of the "knowledge" economy, and true globalization taking off. In my opinion these changes were more significant than the birth of conspicuous consumption in the 80s.
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I mentioned this in the other thread, but the prosecutions during W's reign proved pretty conclusively that Clinton's "wonderful economy" was based on fabricated earnings and funny money. It all came crashing down and we're still dealing with the fallout.