Summary
WASHINGTON -- Ten years ago next month, when the Dow was at 6,381.94 and the NASDAQ was at 1,300.12 -- last Wednesday they were 12,176.54 and 2,384.94, respectively -- Alan Greenspan warned against "irrational exuberance."
But last Tuesday's election results were fresh evidence that two events which profoundly shaped American politics during the last two presidencies were episodes of irrational exuberance unrelated to economic behavior.See the full content of this document
Extract
Iraq Is Still Haunting Gop Leaders
The Democratic episode was the Clintons' attempt to radically restructure and semi-socialize the 16 percent of the economy that is the health-care sector. The Republican episode was -- is -- Iraq.
The Clintons' health plan n...See the full content of this document
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