If Mr. Dan Floyd wants to call the "roaring" 1920s economic good times he'd best put on his spectacles and look again. The era was marked by the inflation of a gigantic real estate and stock market bubble, in the absence of regulation, which burst on "black Tuesday," Oct. 29, 1929, ushering in the Great Depression whose effects lingered into the early 1940s.
The Republican aim of dismantling the regulatory arm of the federal government, harking back to Ronald Reagan, is made even more irresponsible given we have just survived (barely) a near death experience caused by the collapse in 2008 of the subprime mortgage bubble, a crisis marked by massive criminal fraud on the part of our largest financial institutions, which lies at the root of our current economic woes, chiefly unemployment. Republican attack ads repeatedly jeer at President Obama for saying, "The private sector is doing just fine." In fact the private sector IS doing just fine. The Dow is within a few points of its pre-2008 levels, financial institutions and energy companies are reporting record profits, and the Fortune 500 are sitting on billions of dollars of idle cash, which they do not intend to spend until after the 2012 elections, the object being to keep unemployment above 8 percent till then. Their whining about "uncertainty" translates as fear they might be held accountable for criminal and fraudulent behavior. God bless America. In our hands off of business attitudes we are a cowboy culture, sitting in the back seat of Thelma and Louise' convertible as it goes over the cliff. Yee-haw.
Robert L. Egolf