Meanderings

Many of us wish that Obama had been more progressive rather than trying to find common ground with those who weren't negotiating in good faith, but nevertheless it was remarkable at what has been accomplished even through these tough times.  The health care bill could have been better but it's pretty good.  The financial reform bill could have been better, too, but if the financial services industry is whining about it and giving their money to the Republicans, then we can figure that there must be a lot good in it.  The stimulus package also should have been more aggressive--maybe double what it was--but there's no question that things are better because of it.  There's a good chance that the coming recovery will be credited to the Republicans, but that's okay as long as it's happening.

I am 62 years old so I am well accustomed to Americans voting against their own self interest.  Unlike the Republicans, though, I will not question the legitimacy of this election.  The people are entitled to vote for whom they wish.  The near Depression that began in 2008 was a culmination of a policy of under-regulation and the intentional redistribution of wealth from the bottom up.  That policy began in the Reagan era and was pursued and advanced to some extent by both parties ever since.  The standard of living of the average American has declined throughout that period.

One last point.  As bad as things are today, here are some facts that are seldom mentioned.

• When Clinton came into office the Dow was around 3250;  when he left it was around 10,500
• For George W. Bush the number were 10,500 when he started office, and around 8200 when he left.
• Obama started at 8200 and the market closed yesterday at around 11,100 (yup...that's up about 35%).

So what is business whining about?  Maybe it's about time for them to stop whining and step up and start hiring some workers.