Letter to the Editor: Answer is 'yes'
BY Syd Scott, Glenpool
Thursday, September 27, 2012
9/27/12 at 3:03 AM
Both political parties have asked: Are you better off than you were four years ago? The answer to that question is yes. Four years ago my nest egg was severely diminished. Now it has recouped all the loss and then some due to the re-regulated financial markets behaving themselves.
Let me be clear, I am a liberal. And I am amused by the right-wingers who proclaim that liberals are not quite bright, socialist fools and worse. Having obtained an MBA at the University of Tulsa (via GI Bill) and, more importantly, 77 years of experience, I feel that I know a little bit about the economy.
It is clear to me that when President George W. Bush, et al, removed most of the regulations that were designed to prevent abuse in the market, Adam Smith's invisible hand slapped the you-know-what out of us.
Gen-Xers should be very thankful that the Republicans didn't manage to privatize Social Security. If they had, after the market crashed, your mother-in-law might have been living with you.
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