southsider2k5 Posted March 10, 2004 Share Posted March 10, 2004 Some infamous market capitalizations from that day included MCI Worldcom at $135 billion and Enron at about $90 billion, both of which are worth exactly $0 today. Quote Link to comment Share on other sites More sharing options...
Texsox Posted March 10, 2004 Share Posted March 10, 2004 would you credit that to Bush, Clinton, or neither? Quote Link to comment Share on other sites More sharing options...
southsider2k5 Posted March 10, 2004 Author Share Posted March 10, 2004 would you credit that to Bush, Clinton, or neither? The collapse of the stock markets? It started almost a year before Bush took office. If you are going to "credit" a President, it has to be Clinton. Quote Link to comment Share on other sites More sharing options...
Texsox Posted March 10, 2004 Share Posted March 10, 2004 The collapse of the stock markets? It started almost a year before Bush took office. If you are going to "credit" a President, it has to be Clinton. I was thinking the all time high and neither. Quote Link to comment Share on other sites More sharing options...
southsider2k5 Posted March 10, 2004 Author Share Posted March 10, 2004 I was thinking the all time high and neither. IMO Presidents get too much credit for how the markets preform. Quote Link to comment Share on other sites More sharing options...
Texsox Posted March 10, 2004 Share Posted March 10, 2004 IMO Presidents get too much credit for how the markets preform. Agreed. And too much blame. Quote Link to comment Share on other sites More sharing options...
southsider2k5 Posted March 10, 2004 Author Share Posted March 10, 2004 Agreed. And too much blame. And actually in this case, I think that the collapse of the stock market is what started the recession, and not vice versa. The seeds of this recession were laid long before Bush was even a Presidential canditate. The irrational markets of 1999 and early 2000 led to people spending money that they never had. The governments screwed up by cutting taxes and throwing even more money into an economy that didn't need it, and thus futhering the spending spree. It was a house of cards. Like Japan of the 80's the US of the 20's and further back in history the Tulips of Holland, it couldn't be sustained and when collapse came it was ugly. Quote Link to comment Share on other sites More sharing options...
Texsox Posted March 10, 2004 Share Posted March 10, 2004 And actually in this case, I think that the collapse of the stock market is what started the recession, and not vice versa. The seeds of this recession were laid long before Bush was even a Presidential canditate. The irrational markets of 1999 and early 2000 led to people spending money that they never had. The governments screwed up by cutting taxes and throwing even more money into an economy that didn't need it, and thus futhering the spending spree. It was a house of cards. Like Japan of the 80's the US of the 20's and further back in history the Tulips of Holland, it couldn't be sustained and when collapse came it was ugly. I thought the WW caused the Tulip Depression. What happened? Quote Link to comment Share on other sites More sharing options...
southsider2k5 Posted March 10, 2004 Author Share Posted March 10, 2004 I thought the WW caused the Tulip Depression. What happened? Not sure what WW is? If you mean world war, you are thinking of the wrong century. Here is a great write up of it Tulips.com Quote Link to comment Share on other sites More sharing options...
Texsox Posted March 10, 2004 Share Posted March 10, 2004 I was mixing up two events. Thank you for the refresher and anotehr reminder why I stay in the letters section of my campus. Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.