tag:blogger.com,1999:blog-11015870.post5685682776300276341..comments2023-11-03T08:29:56.308-07:00Comments on Economic Trends: A Return to a Failed Economic ParadigmErnie Gosshttp://www.blogger.com/profile/04960355803509595037noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-11015870.post-19830248589200630192008-11-09T12:10:00.000-08:002008-11-09T12:10:00.000-08:00I would argue most Amercians will not have to brac...I would argue most Amercians will not have to brace themselves, because most don't make enough income for a tax rate increase. <BR/><BR/>Prime interest rates are already at 1%, effectively zero since they are below inflation. Monitary policy, supply economics, is sadly weakened with each reduction in this interest rate by the Federal Reserve. This is evident in the negligable impact the reduced interest rate has on the Dow, Nasdaq, and other world indexes. <BR/><BR/>The Bush administration economic gains were not trickled down to the middle and lower income class. These classes voted for an administration whose policies help these classes. <BR/><BR/>One thing history suggests is this. Under tough times Democrats generally get elected. FDR, JFK, Clinton, and now Obama all were elected in tough economic and world political times. <BR/><BR/>On the bright side, Obama has shown a willingness to continue to listen and adapt verses a constent eye on an ideology. One example of this was Paul Volker who was cited in the article. Obama selected Volker as one of his 14 experts in his economic advisory team.Anonymousnoreply@blogger.com