Quote:
Originally Posted by JAFF
No US president can have complete control oil prices.
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Taking it a step further, US Presidents essentially have no control over the economy, period.
The nature of the capitalist system is "boom/bust" ...... every 15 to 20 years there is a recession, and shortly afterward there is an economic boom. The best that can be hoped for is to avoid a depression, which occurred from 1929-1939. History shows that for well over 150 years, "the boom/bust" cycle occurs, regardless of who is in the White House.
We've had recessions with liberal Democrats in office (Jimmy Carter), and with conservative Republicans in office (George Bush, Sr.) We've had economic booms with liberal Democrats in office (Bill Clinton) and with conservative Republicans in office (Ronald Reagan.) Reagan was also in office when the stock market crashed in October of 1987 occurred ...... that crash, or something similar to that crash, would have occurred if Walter Mondale had been in office.
The stock market crash of 1987 wasn't Reagan's fault, any more than the economic boom was to his credit in the early 80's in his first Presidential term. The same could be said of all of the "booms' and "busts" that have occurred throughout history ...... the recession of 1991 would have occurred if Michael Dukakis had been in office instead of George Bush Sr, and the economic boom of the mid-to-late 90's would have occurred if Bob Dole had been in office instead of Bill Clinton.
"If voting changed anything, they would make it illegal."
Emma Goldman
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