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And let's not forget what we did in the 1990s. We balanced the budget. We paid down the debt. We created 23 million new jobs. We lifted millions out of poverty and we lifted the standard of living for the middle class. We just need to believe in ourselves and we can do it again. -John Kerry, 2004 Democrat National Convention

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Democrats like Kerry and Edwards seem to be pinning their hopes on Americans with short memories. Unfortunately for them, more than a few people remember the 1990's economy marked by too many companies with inflated valuations, dubious and/or unsustainable business models, and burn rates that were eating through capital as fast as you could say "A series". Stock markets were overvalued and oversold. There was nothing less than IPO hysteria taking place. Supply chain industries were booming to fill anticipated orders. Businesses across the country had overmanufactured and overstocked inventories (anyone want to buy a few warehouses full of fiber optic routers?), and the job market had swelled to meet existing and future labor needs. It was no wonder the 90s economy was doomed to self-desctruct, and it did in spectacular fashion practically overnight. The Fed had all but predicted it. Greenspan voiced warning signals suggesting a major correction in the equity markets was imminent. A few smart investors knew it. However, most folks got caught with blinders on. Who ever thought the good times would come to an end? When it crashed, that's when people leanrned why they called it "a bubble".

Add to all that corporate scandals and accounting fraud - perpetrated by some of the largest companys in the US (spare me with the "it's Bush and Cheney's fault" crap) and a host of other factors including 9/11 all served to add fuel to the ensuing decline.

John Kerry wants to do it again? Is he off his rocker?

Most people are smart enough to know the ecomony behaves as a cycle. Right we're in a growth period. Yes it's slower this time but that's probably a good thing because the indicators are more realistic and people seem to have their feet planted on the ground this time.

If you think outsourcing jobs overseas is bad, don't kid yourself because things could be far worse than they are now.

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