Thompson claims Bush beats Clinton on economy

fred-thompson_sub1.jpg  In his latest column, Fred Thompson argues that Bush’s economic policies are superior to those of Bill Clinton’s. Seriously.

Economist Larry Kudlow calls today’s American economy, “the greatest story never told.” If you’re generally predisposed to not support tax cuts and economic growth, you’re probably satisfied that the U.S. economy isn’t bragged on more. But you’d also be out of step with Americans [sic] traditional optimism, and out of step with reality, too. […]

Since the spring of 2003, the economy has had average growth of over 3%, 8.2 million jobs have been created, and the inflation rate has stayed low. The current unemployment rate, 4.6%, is a full percentage point below what it averaged during the 1990s, and there have been 47 consecutive months (almost four years) of job growth. In the last three years, workers’ salaries have risen by $1.2 trillion, or $8,000 per worker, and consumer confidence recently reached its highest level in almost six years.

A couple of weeks ago, actor/senator/lobbyist Fred Thompson, a leading GOP presidential contender despite not having launched a campaign, lost his campaign manager, research director, and spokesperson in the course of a couple of days.

Apparently, Thompson fired his economic advisor, too, because his argument is completely ridiculous.



Login or Register to post comments.

115 comments

[Deleted. Banned poster]

Fred Thomson is afraid to get into the race now because someone might ask him questions, and clearly he has none worth anything.
Better Economy than During Clinton.....Really.?
How come we owe over a trillion to the Chinese then?
Oh and all those jobs Fred, your out of touch, people are having to work two or three of those "yobs" now to just get by.
I'd say you way out of touch with reality, but that's not unusual for your party, now is it.

Get in the race or shut the F*ck up.

If you consider a stock market that has tanked so far today the result of better economic policies, then yes Thompson is correct.

[Deleted. Banned poster]

I'm gonna save that column to read for moral support, when I fill out my bankruptcy payment.

Let him keep talking. Anybody entralled with his actor's persona...and isn't already wealthy...will be able to see what a jack ass this guy his.

hmm yes, exactly what America needs right about now, another redneck that is already insulting our intelligence.

I didn't know Thompson was even paper trained.

Weaseldog @ 5:

I'm gonna save that column to read for moral support, when I fill out my bankruptcy payment.

I am practicing personal responsibility. I am paying back 100%.

When I became unemployed during the telecom layoffs in my area, my wife and I mistakenly thought it was a good time for her treated in the emergency room for heart failure. We splurged and got a $60,000 medical bill.

lolsheep @ 1:

Uggghhh! -- who let this slimeball out of his swamp?

He's got the hots for Adrienne Barbeau.

Larry Kudlow is nothing but a cheerleader for this Administration. I wouldn't take any financial advice from him. He worked with David Stockman at OMB during the Reagan era and he thinks he is the "be all and end all." For Thompson to quote him demonstrates how ignorant he is of the facts.

If China calls in their loans to us, today's dip in the market will look like a picnic. For everyday we are in Iraq, we have to borrow from China. Very bad public policy.

Im willign to bet Republicans like THompson knows supply side econ doesn't work for the majority of Americans. They keep lying that it does SIMPLY TO PAY LESS TAXES. GOP doesn't have a low IQ or anything that they can't udnerstand economics...they know they're not on the right side of economicpolicies.

It must be great to just let rip and really bullshit your face off, without any shame whatsoever.

what is that about keeping one's mouth shut to avoid confirming suspicions of stupidity?

Fred. You know nothing of economics. You've confirmed it...

yes, he is right. for the uberwealthy things are wunderbar, like the gilded age. now, if the c montgomery burns constituency were larger than .1% of the population thompson might be hitting a successful political note...

with candidates like these why is the GOP evening fielding a candidate for 08? thompson is "TV smart" and one lazy as mo-fo.

laaaaazzzzzzeeeee tommy, get your jowls a'movin'!

If you’re generally predisposed to not support tax cuts and economic growth, you’re probably satisfied that the U.S. economy isn’t bragged on more. But you’d also be out of step with Americans [sic] traditional optimism, and out of step with reality, too.

Fred is a perfect metaphor for today's Republican party: out of touch, illiterate, and slowly dying.
.

What's Freddie puttin' in his coffee these days? He's delusional besides being out of touch with the average 'merican.

What planet does Thompson live on? The only ones who are better off are the rich when Bush gave them those tax reductions.

Lurch Thompson memory holes the Nasdaq reaching 5.000 under Clinton. Home foreclosures are setting records now. These connies measure everything by how their inner circle is doing, like Cavuto saying "the people I know with subprime mortgages are paying on time"

These guys will say anything. Other then the very rich, average income during this administration has been falling. Even the investor class is suffering - the market continues to grow but that is offset by the falling value of the American dollar.

Job growth? Non-existent unless you want to work at Wall Mart or McDonalds. Teens can't get summer jobs, adults are filling them. Even high tech workers are loosing their jobs to out sourcing and imported labor.

Do they really think we are too stupid to realize this? We're living it after all.

I'm an atheist, but colloquially-speaking, God help us if he makes it as their nominee, because I hate to say it: HE'LL WIN. He's over-qualified by current standards. He's a liar, a fraud, a moron, a hypocrite, etc., etc. Everything the GOP likes and admires in a leader. Maybe we'll luck out. Maybe he'll get caught offering the pay to blow a guy in a men's room somewhere. Nah, wishful thinking.

Some timely advice for today's economic woes.

Steve Martin SNL skit: Don't buy stuff you can't afford

Well I imagine the richest 1 per cent have done quite nicely pulling Georgie's strings.

The US is about to hit the debt ceiling of $9 trillion dollars in October.
The dollar continues to fall.
The trade imbalance has increased every year for 7 years.
The majority of the Fortune 500 companies are owned by non-US companies and investors.

But hey, we've always got tax cuts!

personally, call me nutso, but this my as well be a gift to the dems. to have hollywood-tommy out there saying that the economy is just golly-gee swell is proof positive that he is politcally an amateur, and has NO idea what people are facing these days.

with foreclosures and the crashing housing market, layoffs, outsourcing, etc. he has proven, again, to be a complete buffoon.

lemme guess, he and other idgits like larry 'cud chewer' kudlow are basing this off the wildly unpredictable stock market? niiiice, way to connect with average americans.

dennis @ 22:

Some timely advice for today's economic woes.

Steve Martin SNL skit: Don't buy stuff you can't afford

I can't afford to buy my wife insurance. So we're paying out of pocket and hoping she doesn't suffer heart failure again.

It was pretty funny though. On the one hand you see the stock ticker thingy showing the stock market tanking and then Chimpy comes on this morning and tries to tell everyone that the U.S. economy is thriving and the envy of the world. I've come to realize that whenever Bushy makes a speech about anything, Iran, Iraq, the economy, global warming you need to listen to what he says and believe the exact opposite.

Fed Up @ 17:

What's Freddie puttin' in his coffee these days?

From the looks of his wife (the second wife - the one thats younger than his adult children), my guess would be Viagra.

7 years of living large on borrowed money and smoke and mirrors type derivatives does not make for a great long-term economy. Take a look at what is happening today. The gig is up.

http://calculatedrisk.blogspot.com/

http://www.marketwatch.com/?siteid=yahoomy

Strong words from a no-account actor.

Today [Fred] Thompson tapped his third campaign manager. Which means he's now operating at a ratio of 3 managers to 0 campaigns

Thompson's getting to that pathetic "shut up and act" stage, where he's apparently seeking (and getting) attention for his irrelevant baggy ass. If it weren't for Tweety slobbering over Thompson's old-man smells like a dog on stinky slippers, Thompson would be doing what he does best: trying to figure out how to act his way out of a paper bag.

yea, Bush W. is great for the economy...i agree with Fred here.

only Bush W could lead us to almost 6 years with a declining currency....Clinton could never accomplish that.

we are number 1 in those regards, and all owe our debt to W and the P-NAC Crew...pun intended

Another member of the hate filled right wing hypocrites lines himself with the worst President in our nation's history - Bush. Way to go. Really smart thinking. lol.

The funny thing is that there are morons out there who would vote for Fred.

I got an $8,000 raise?? Is Fred sure?? Gee, it must be there somewhere if he says so...

I can't wait for the day, after the Republican Party disappears, when all remaining Republicans are hunted like dogs and made to pay for the mess they made. The kind of behavior we've seen from our elected officials would get someone hung by the neck in the town square in some other modern countries, even today. I'm not promoting hanging Republican scum, mind you, just never letting them inside the city limits.

What Thompson conveniently neglects to mention is that the majority of those 8.2 million new jobs are service industry related, such as McDonald's and Wal Mart. Very few of those who have found employment in the workplace have found it in manufacturing or the high tech industries. The trick is to keep on eye on what politicians do not say, i.e. the lie of omision.

Whaddya' expect from a serial leaker

strawberry @ 27:

It was pretty funny though. On the one hand you see the stock ticker thingy showing the stock market tanking and then Chimpy comes on this morning and tries to tell everyone that the U.S. economy is thriving and the envy of the world. I've come to realize that whenever Bushy makes a speech about anything, Iran, Iraq, the economy, global warming you need to listen to what he says and believe the exact opposite.

When Chimp started his press conference the Dow was down about 120. After babbling god-knows-what, America saw his gray matter overheating, showing once again what an incompetent we have running this country, and now the Dow is down 240. Stupid monkey!

If you're a billionaire oilman I guess it's a better economy. The rich get richer: the American dream.

Holy crapola. Thompson is going to cite Larry Kool-Aid Kudlow as an economic guru.

How soon before Frederick of Hollywood brings on Bill Kristol as a foreign policy adviser?

-GSD

[So Sorry, Weaseldog].

OT--or is it?--the Lancet has an article saying that there's a strong correlation between marijuana usage and psychosis in later life. Why do you suppose it only affects republicans?

He's in the pocket of Republican party. This is the typical Republican tactic for setting up the next Democratic President for failure. Because to the uninformed it seems like Bush was doing really well, and whoever takes over after him (they will LET it be a Democrat) will feel the effects of his out of control spending, and will undoubtedly have to deal with the Bush's heritage of crashing economy. This will of course make the uninformed assume that the Democratic President is running the economy poorly and it's his/her fault, setting the stage again for another Republican to be elected, who can continue the out of control spending.

This is the traditional cycle of American politics: Republicans get to spend on their pet issues, Democrats are left to clean up the mess and are then criticized for not getting results done.

miss_kitty @ 14:

what is that about keeping one's mouth shut to avoid confirming suspicions of stupidity?

Fred. You know nothing of economics. You've confirmed it...

It is better to remain silent and be thought a fool, than to open one's mouth and remove all doubts.

Abraham Lincoln

hadenuf @ 41:

[So Sorry, Weaseldog].

OT--or is it?--the Lancet has an article saying that there's a strong correlation between marijuana usage and psychosis in later life. Why do you suppose it only affects republicans?

God I hope not!

Weaseldog @ 44:

hadenuf @ 41:

[So Sorry, Weaseldog].

OT--or is it?--the Lancet has an article saying that there's a strong correlation between marijuana usage and psychosis in later life. Why do you suppose it only affects republicans?

God I hope not!

Heh, i mean I hope they are wrong!

Another crackpot finally emerges as the savior of the party. is Thompson the best actor the Republicans have to offer?

the economy is on fumes

The housing bubble is about to collapse, wages have been stagnant for ages, prices of almost everything have risen dramatically, professional jobs are almost non-existent, higher education prices have quadrupled in the last 20 years, retirement and raises are ghosts of the past ...

WHAT THE FUCK are these people TALKING ABOUT? I have to wonder what world they are living in, these people that babble incessantly about how the economy's doing great, how "all you need" is two million dollars in the bank to retire .. W.T.F.

i think the indicators they track are fixed. Economists are all about bullshit, all of them.

[Deleted. Off topic]

Outsourcing of jobs has hurt the American citizens.

You decide after reading these figures:

By Nancy Brigham
"What do you say to someone in this country who has lost his job to someone overseas who's being paid a fraction of what that job paid here in the United States?" That question was posed directly to President George Bush in the third presidential debate last fall.

In the past, such a question might not have roused much interest among U.S. high-tech workers, who felt confident that their skills shielded them from the job losses that blue-collar workers had been suffering. But the new communications technology that high-tech workers helped build makes it possible to send huge amounts of information across the globe in lickety-split fashion. Now Information Technology (IT) jobs are also being sent around the globe. As Silicon Graphics CEO, Robert R. Bishop recently commented, " US software developers are now competing with everyone in the world who has a PC." It's remarkably easy to outsource white-collar computer-related job overseas, especially because there's no heavy capital equipment to worry about. (Baker)

So how did the president say he'd console the person losing a job to such competition? He said: "Here's some help for you to go get an education. Here's some help for you to go to a community college." But when the president switched the subject from jobs to education, he was not consoling many high-tech workers. "Bush wants to send me to college for retraining?. . . I have a Computer Science degree, so I should go back and get a degree in. . . what?" asked one jobless worker posting in a ZDNet forum. Said another: "I'm nearly 50, with 20 years in the IT field, and can't get a job 2 years after being laid-off due to outsourcing. I'm supposed to go back to school -- and do what?" (Commission on Presidential Debates , diwillia, jwhooper)

http://www.cpsr.org/pubs/workingpapers/1/Brigham

--In addition, what about outsourcing of automobile industry to S.Korea?
How many automobiles do we export compared to importing.

Fred Thompson is trying to mislead the American people with these phrases:

"Since the spring of 2003"
"averaged during the 1990s"

A fair comparison is between the first six years of Clinton to the first six years of Bush.

Don't tie Clinton to the George H.W. Bush recession, and skip over 2001 and 2002.

my thought with this guy is just that i hope he keeps talking. as twain once said and i paraphrase, keep your mouth shut and people can assume you know nothing, open it and their assumptions are validated. so in light of that bit of wisdom, i hope this sorry candidate and sorrier actor keeps talking. reagan fell in the same category, but he most of the time relinquished the floor to those he knew to be brighter and better informed. this guy doesn't have sense enough to keep his mouth shut on subjects with which he knows nothing. do the repubs have anyone else in the box they can pull out??? honestly, not that i care anymore, i'm going independent.

It is yet another case of GOP "Who are you going to believe my article or your lying eyes?"

And there are morons who buys his crap... Americans sure love Capitalism, too bad most of them are too intellectually lazy to actually understand how it works. It is sad that for such a materialistic overworked society, we really are not that good at making money, since our debt is surpassing our GDP. This is, we borrow more than we make....

In any case, forget about China... their Yuan is tied to the dollar. The ones to watch out are the EU and Japan who combined own a much bigger share of the US debt, and whose currencies are not tied to the Dollar, and who...in the case of the Euros are tired of conducting responsible fiscal and environmental policies... and who are getting tired of the petulant Americans pissing on every body's pond while we live outside of our means. They can start squeezing us and watch us bitch and moan with glee... payback will be indeed a bitch.

Where's Freddy boy's lace, ruffles and delusions?

mister mix @ 48:

[Deleted. Off topic]

If I stay on topic it's purely by accident.

By golly he IS the new reagan.
This guy's head must be softer than a rotten melon.
Keep showing how senile you really are, the wingnuts love when a third grade education makes them smarter than their president.
The proof is in the White House now.

mhj555 @ 55:

By golly he IS the new reagan.
This guy's head must be softer than a rotten melon.
Keep showing how senile you really are, the wingnuts love when a third grade education makes them smarter than their president.
The proof is in the White House now.

Barney?

I'm a worker. Where the hell is my 8 grand?

hat show is this guy one. we need to write his sponsors and tell them that it's another in the long line of shows that we won't watch nor we buy their products. kelsay grammar used to have one of my favorite shows, until i found out he's a conservative sob. same with mel gibson, bruce willis, dennis miller, never a fan of that caustic unfunny sob, let him squalor in the land of don't count anymore, and deborah, hot deborah of everybody loves raymond, gave up watching that show as well. when will these guy wake up. by the way anyone else have any other conservative actors' names or shows to add to the list. this isn't a mccarthy vendetta, it's just letting movie moguls and tv sponsors know that as long as they promote the conservative agenda, they've lost my dollar.

What an idiot.

politrix @ 42:

This is the traditional cycle of American politics: Republicans get to spend on their pet issues, Democrats are left to clean up the mess and are then criticized for not getting results done.

The Democrats are some sort of abused wife, they just can't frame the discourse and point out at the massive failures that accompany GOP policies.

For example, GOPers have worked hard for over half a century to basically dismantle the New Deal. In fact people are now saying how Roosevelt was not such a great guy, too authoritarian, a pinko commie bastard, remember the Japanese internment camps, his wife had too much power, etc, etc, etc. This is the GOPers can basically re-frame one of the best statemen of the XX century. Sure he was not a perfect man, who is? But their tactics are so obvious... they focus on his short comings, which were in the real of things fairly inconsequential with the bigger picture of what was going at the time: America was recovering from the depresion, and we were figthing a world war in two fronts. So in the realm of things, the fact that his wife was being used as his representative because of his polio... it is and was fairly inconsequential.

Now, interestingly enough it was the introduction of the trickle down theories by Hoover in the 1920s that led to the fantastic crash of the economy. Yet, you will never see an association between GOP and bad economic policy. Heck the GOP got a second try in the 80s... which led to the fantastic economic crash in 1990. Americans quickly forget, and 8 years later elect a moron that enables the exact policies that destroyed the economy in the late 1920s and the 1980s. And by god a Democrat will never have the gall and associate GOP with their horrible track record, you know... because that wouldn't be "nice."

GOP brought us the great depression, they fought the civil liberties tooth and nail, Nixon, the great oil crash with Ford, Iran Contra, the great market crash of the mid 80s, the dismantlement of the national health network, the destruction of unions, the dismantlement of the consitution, the recession in 1990, the recession in 2002, 9/11, Iraq, Afghanistan, biggest debt in history, worthless dollar, Enron, the Federal Response during Katrina, etc, etc, etc, etc.

Yet dems get pegged with the mantra of being the party of waste, inefficient government, the subversion of civil liberties, etc, etc. I know of people who still vote straight GOP because they feel that the Dems if elected will take their guns away (never mind that the GOP has taken every other right away from them). Sad really...

Frederick of Hollywood is playing to the 28%'ers.

this son of a bitch is exactly what these repukes need , theirs an old saying if you want a cocksucker to rule your every god damned thought get some prick actor and inside that acters another ronny boy reagan, theirs not a republican alive today who wouldnt give a blowjob to a reagan look alike!

BGA for president!

He even looks a little like Fred Thompson with a worse toupe

http://l.yimg.com/img.tv.yahoo.com/tv/us/img/site/57/99/0000035799_20061...

Heh, I'm supposed to up $8 grand? I'm making $80 grand less than I did in 2000.

If I go back and do the college thing again, what should profession should I switch too? Obviously its time to get out of science, technology and medicine. America is becoming anti-science. Brainy stuff is for evil foreigners. If its not in the Bible, then Americans don't need to do it.

What's left? Legal and accounting? Marketing? Business Management?

Obviously I don't want to compete with illegal aliens. When I was working loading docks in 2002-2003, the illegal mexicans I worked with, got downright nasty at times, because I was taking away jobs that one of their family members was supposed to get.

The "all is well" theme has been the GOP mantra since Reagan. Remember Bush 41's campaign theme? "Don't worry -- be happy!" It was obnoxiously patronizing, but lot's of people still lapped it up.

Do they have any sane people in the republican party and if they do, they should run for president. I mean everyone of their candidates sounds like they have lost their mind. There must be at least one republican who has a clue.

Who really gives a sh*t what this guy thinks. Now, I would like for him to start talking about the Hollywood elites like the rest of his bunch like to do. Doesn't want to bite the hand that feeds him.

Hey, Fred! Tell it to Steve Skvara!

[Deleted. Consult the commenting policy if you wish to contribute]

I guess if you're going to tell a lie, might as well tell a big one. The rightwing dolts will believe anything apparently.

After doubling the deficit and having Alan Greenspan pimp subprime mortgages to try to stoke the economy, the Bushies are still wretched failures by all measures. Hell, his own Treasury secretary resigned and wrote a tell-all book trying to warn us what clueless fucks they are.

The only people left in the Republican party are sociopathic chickenhawks, racists, Jesus freaks, closet-case homophobes, and CEOs of Fortune 500 companies.

All roads lead to the FED. Greenspan caused the recession of 1990, by raising rates. Greenspan caused the great boom of the late 90's, by an easy money policy, that caused M3 to begin soaring in 1995- the year the stock bubble began in eanest.
Greenspan then blew the top of the bubble and ginned up the economy by dropping rates to 4.5% in 1998, to stem the asian contagion. Raisiing rates to 6.5%, Greenspan caused his second recession. He then facilitated a housing bubble economy by dropping rates to 1%.

Political parties love to take credit for the economy, but the late 90's boom was for the same reason the roaring '20's boom occurred. Fed monetary policy. Two bubbles have now burst, stocks and housing, and a number of comparisons have been made to this or that being the worst since the Great Depression.

Thompson is full of himself. But then, so are both political parties. Cycles repeat and Greenspan did the same thing the FED did in the 1920's. We now have a huge credit bubble, which Greenspan himself, said lead to the Great Depression.
That is the irony, Greenspan knew not to do it, but did it anyway. Both President Clinton and President Bush Jr., benefitted from his money pumping.

Ah yes, the classic misuse of statistics.

"In the last three years, workers’ salaries have risen by $1.2 trillion, or $8,000 per worker..."

I've read that number as well, though Kudlow left out the (IMO, important) fact that in this case worker salaries also includes stock options, etc. And yes, $1.2T divided by 151M US workers does indeed average out to $8K per worker. But that is (sneakily) implying a uniform distribution. If that were the case, then each quartile of workers would have gone up $8K, and the average would have gone up the same amount as well. Just for yucks, lets take a look at FICA only wages (base salaries, per hour, commissions - not including stocks & options).

From Social Security Admin ( http://www.ssa.gov/OACT/COLA/awidevelop.html ), the results:
2003 average: $32,678
2005 average: $35,449 an increase of $1771, or 8.5% increase

So where's that extra $6229 gone to? Earners whose compensation includes stocks, options, Sub-S distributions - sources where that income isn't reported as FICA earnings. Basically, some went to the 80-95 percentile earners and most went to the top 5 (or even 1) percentile.

BTW, was Kudlow also using the "unrevised" GDP growth numbers? You know, the ones that BushCo very quietly revised downwards for 14 of the last 16 quarters. Just asking.

Superior for big oil, corps. and all the real folks who can afford to have lobbyist

Larry Kudlow. I don't believe he's actually human.

ysbaddaden @ 63:

BGA for president!

He even looks a little like Fred Thompson with a worse toupe

http://l.yimg.com/img.tv.yahoo.com/tv/us/img/site/57/99/0000035799_20061116111137.jpg

Faaaaaaaaaaabulous.

How the Republicans are allowed by ANYONE (incl. their constituents) to claim they are fiscally conservative is beyond me. After what they've done to the national debt (among other egregious things), they oughtta commit hara-kiri.

By any pre-2000 classification, Republicans are the most radically spend-crazy party this country has ever seen.

As long as there's a deficit, there's no tax cut since you have to pay interest on money you borrow.

In gross, Bush has not cut America's tax burden at all, but raised it to record levels.

Hey Fred! I call Bull$hit!!

[Deleted. Goodbye]

Weaseldog @ 64:

Heh, I'm supposed to up $8 grand? I'm making $80 grand less than I did in 2000.

If I go back and do the college thing again, what should profession should I switch too? Obviously its time to get out of science, technology and medicine. America is becoming anti-science. Brainy stuff is for evil foreigners. If its not in the Bible, then Americans don't need to do it.

What's left? Legal and accounting? Marketing? Business Management?

Obviously I don't want to compete with illegal aliens. When I was working loading docks in 2002-2003, the illegal mexicans I worked with, got downright nasty at times, because I was taking away jobs that one of their family members was supposed to get.

How about being a politician? Seems they make lots and don't have to work or even know what it is they're supposed to do. Oops... sorry. You're an honest person so that won't work for you, will it?

Nice try, Franken-thompson.

right on! @ 80:

How about being a politician? Seems they make lots and don't have to work or even know what it is they're supposed to do. Oops... sorry. You're an honest person so that won't work for you, will it?

Essentially yes.

When I've done things I shouldn't, I felt guilty. This disqualifies me from public office.

Thanks Fred for the lesson in voodoo economics where apparently, massive deficits and Enron style accounting to make yourself look good are better than a net surplus and honest disclosure.

That Ole Basset Hound Face could say that with a straight face proves what a good Hollywood actor he is.

Ahnuld, Reagan, Thompson....America doesn't need their Hollywood values.

anonymous @ 75:

Larry Kudlow. I don't believe he's actually human.

kodos and kang and kudlow

Ron.j @ 72:

Thompson is full of himself. But then, so are both political parties. Cycles repeat and Greenspan did the same thing the FED did in the 1920's. We now have a huge credit bubble, which Greenspan himself, said lead to the Great Depression.
That is the irony, Greenspan knew not to do it, but did it anyway. Both President Clinton and President Bush Jr., benefitted from his money pumping.

Yes and no, the FED controls the money supply, however it is the government that enforces economic, structural, and budgetary policies. So these economic clusterfucks are a partnership between whoever is in charge of the Fed and the presidency at the time. The main problem is that the political side of that equation (the executive branch of the government) is the only one that can be held directly accountable by the citizens since the Fed is a private institution, and thus free of electoral oversight.

However, I think it is time that American regain control of their own money supply and do like Jackson and regain public control of the Federal reserve. Or at least have some sort of tighter citizen oversight.

The best damn economy borrowed money can buy.

A liar and a bozo.
...

What do you expect from a grown man that dresses up like George Washington? Intellegent comments? Face it, the guy isn't firing on all cylinders.

Dear Fred

Where do you get you S##t?
The stuff I have got has never gotten me that high?

signed

minnesota mike

"herr dubyah walks on water better than Clinton"
~Reich-Wing Parrots

The only way worker salaries have risen 8000.00 per worker over three years is if you include the 500 to 1 ratio compensations of Execs and CEO's to real workers to the equation, and those shitheads aren't "workers".

Completely laughable.

Let's be fair. Fred Flintstone err Thompson most likely is doing better under W. He pays less taxes and the hedge fund he's putting his acting money in is most likely heavy into defense stocks.

Everything's great out here in bizarro world. Me am so happy. The stock market tanking today? That's obviously Clinton's fault.

Another insane republican spouting propoganda. I hate when they give unemployment stats... as far as I can tell, they only count the folks who are actively collecting unemployment. What about the people who reached their limit on umemployment and still don't have a job? I think if you did an actual count you would find the number of unemployed off the charts.

They can talk all they want... all the real people have to do is look around them, or look at their bank accounts, or look at their bills, or their lack of health insurance to know that the economy is in the toilet!

Fred Thompson can take his hillbilly redtruck,and shove it up his ass.

MCD I'm sure you're right. They twist all the numbers. when they first came into power they even announced they were going to report economic markers differently. Again I say - a bunch of corrupt fucking thugs are running our country.

Its going fine for all the rich fuckers,in their big SUVs and Hummers.

Larry Kudlow is a turd that crawls,and talks.

Ron @72:

Nuts on.

Habitat Vic @ 73:

Ah yes, the classic misuse of statistics.

"In the last three years, workers’ salaries have risen by $1.2 trillion, or $8,000 per worker..."

I've read that number as well, though Kudlow left out the (IMO, important) fact that in this case worker salaries also includes stock options, etc. And yes, $1.2T divided by 151M US workers does indeed average out to $8K per worker. But that is (sneakily) implying a uniform distribution. If that were the case, then each quartile of workers would have gone up $8K, and the average would have gone up the same amount as well. Just for yucks, lets take a look at FICA only wages (base salaries, per hour, commissions - not including stocks & options).

From Social Security Admin ( http://www.ssa.gov/OACT/COLA/awidevelop.html ), the results:
2003 average: $32,678
2005 average: $35,449 an increase of $1771, or 8.5% increase

So where's that extra $6229 gone to? Earners whose compensation includes stocks, options, Sub-S distributions - sources where that income isn't reported as FICA earnings. Basically, some went to the 80-95 percentile earners and most went to the top 5 (or even 1) percentile.

BTW, was Kudlow also using the "unrevised" GDP growth numbers? You know, the ones that BushCo very quietly revised downwards for 14 of the last 16 quarters. Just asking.

Thx for the info, Habitat

Thought you'd might appreciate a little wisdom from some sage (and not so sage) folks:

“Get your facts first, and then you can distort them as much as you please.”
“Facts are stubborn things, but statistics are more pliable.”
“I am not one of those who in expressing opinions confine themselves to facts.”
Mark Twain

“Facts are stupid things.”
Ronald Reagan

[Deleted. Off topic and sounding suspiciously drunk]

Ah, the $8000 is an average. That's $8000 for you (rich) and none for me (middle class).

"consumer confidence recently reached its highest level in almost six years."

Wouldn't this mean that workers are more confident about the future now that bush is finally almost out of office?

Six years has been entirely within Bush's reign of terror.

Fred, Mitt or Rudy, the strategy is clear. talk out of the butt. they will do this with the confidence that Big Media "Truth Squads" will be meek and uninterested in most of what they pull out of their butts.

this is a challenge. Us Non-Republicans need big nerf batts handy at all times. If there is no filter between Mr and Mrs America's brains and all that butt-talking, they are going to vote for negative ads and much repeated catch phrases.

Somebody's gotta stand up and howl like Donald Sutherland at the end of the Body Snatchers remake. somebody's gotta do it right now. all most people know about Fred is what a SWELL GUY he is. because that's all they've heard about him. it's time to hear something else.

As vertically challenged Robert Reich likes to say, if he and Chaquille O'Neal are in the same room, the average height of everyone in the room is 6 feet. Same with that $8000 average salary increase. Kudlow loves to equate well regulated markets with socialism and he knows the repukes are going to get hammered next year. He is laying the groundwork for blaming the "socialist" Dems when this house of cards economy, built on low-interest loans, takes a dump.

a guy @ 81:

Nice try, Franken-thompson.

The resemblance is uncanny: http://members.tripod.com/DarrinV/store.gif

Fred Thompson claims Bush beat Clinton on the economy...

Uh---huh.... Another reason why Fred Thompson is a waay weak empty clueless suit.... He keeps this up and I predict his acting career down the road will probably be all about late night infomercials....

My additional response? I'm going with what another poster said on another threat yesterday that gave me a chuckle...

IF Bush is better than Clinton on..., hell, on anything you can name.. Then I'm the friggin tooth fairy heheheheh JD

Those on top want us to be confused. the hell with the Neo-Cons bunch of a-s-s-h-o-l-e-s.

Wow. I thought McCain was insane, but Thompson has topped him.

It is amazing the information that we know now about Fred Thompson and contrast that with how he presented himself before in congress (and now we know why he came across so good on TV; he was acting in congress as well).

I'm pretty sure that Fred is not including the
very swell and ultra inspiring "Sub prime meltdown" in his assessment.

Old Fred, the Nixon mole, has also stolen a video on YouTube from someone else, made about the bridge in Minneapolis. Old Fred, the repig stole the video, spliced the sociopathic photo-op of you know who into it, and uploaded as his own. He got caught, and everyone said, 'Shame on you, typical of repukes!' Showing his corruption right up front, PIG!!!!!

Download youtube videos direct to your PC, iPod, PSP, iPhone, Mobile, Mac..etc for free.. Its fast

Check http://vconvert.net/

Convert to more popular format like .WMV .MOV, .MP4, .3GP, .MP3 etc

115 comments

Login or Register to post comments.