These companies wouldn't have survived even if Trump was in office. Interestingly while some of the business models were absurd, some still exist today. Chewy instead of Pets.com for example...
https://money.cnn.com/gallery/technolog ... index.html
US Federal Deficit Spending Years 2000-2021
- Cascade Kid
- Posts: 878
- Joined: Thu Jul 08, 2021 2:11 am
- Cascade Kid
- Posts: 878
- Joined: Thu Jul 08, 2021 2:11 am
Re: US Federal Deficit Spending Years 2000-2021
A very good friend of mine Ret. Admiral Bill Owners had been nominated by president Clinton to serve as the Vice Chairman of Joint Chiefs.
I asked Adm. Bill what he had thought about Clinton. He said to me, "I don't care for him much as an American. While I went off to Vietnam with many other Americans to fight a war, he dodged the draft using his connections which isn't honorable. But I will say that he is a hell of an administrator. He's the only president in recent memory that has operated a budget into a surplus. Today our deficit has become my top concern as our grandchildern will have to eventually pay for the debts we have piled up, and this is not fair to them." Adm. Bill has retold me this statement a number of times.
Adm. Bill is on the Fiscal Responsibility Amendment which aims to establish a balanced budget amendment to the Constitution. The reasons why this amendment is important to him is, not only will our grandchildern need to play this debt, but some of our international debt holders such as China will eventually demand the debt to be paid. "Thought China doesn't mind holding some of our debt, it will not standby as America recklessly services its needs through a exponentially growing red ledger".
I asked Adm. Bill what he had thought about Clinton. He said to me, "I don't care for him much as an American. While I went off to Vietnam with many other Americans to fight a war, he dodged the draft using his connections which isn't honorable. But I will say that he is a hell of an administrator. He's the only president in recent memory that has operated a budget into a surplus. Today our deficit has become my top concern as our grandchildern will have to eventually pay for the debts we have piled up, and this is not fair to them." Adm. Bill has retold me this statement a number of times.
Adm. Bill is on the Fiscal Responsibility Amendment which aims to establish a balanced budget amendment to the Constitution. The reasons why this amendment is important to him is, not only will our grandchildern need to play this debt, but some of our international debt holders such as China will eventually demand the debt to be paid. "Thought China doesn't mind holding some of our debt, it will not standby as America recklessly services its needs through a exponentially growing red ledger".
- Walla Walla Dawg II
- Posts: 2456
- Joined: Sat Mar 06, 2021 12:29 am
- Location: Southeastern Washington
Re: US Federal Deficit Spending Years 2000-2021
Can't argue that either. But the fact is still......D-train wrote: ↑Sun Mar 26, 2023 11:50 amThe bubble burst because people started realizing companies with 7 million in revenues should not be valued at 7 billion dollars.Walla Walla Dawg II wrote: ↑Fri Mar 24, 2023 6:29 pmThe dotcom crash that Clinton caused. And you can see the 'surplus' was getting smaller and smaller.
It should also be pointed out that our government (Clinton) had nothing to do with the dotcom boom, but he and the government sure had a lot to do with that bubble bursting.
This was the dotcom economy and Clinton had nothing to do with it. But he did have something to do with the crash of it.
Re: US Federal Deficit Spending Years 2000-2021
No, not really. Like every other recession, there was overcapacity in the economy. In this case firms had overbought and overhired preparing for Y2K and for dotcom business models that couldn't make money. It was very classic end of an American business cycle going from boom to bust.Walla Walla Dawg II wrote: ↑Mon Mar 27, 2023 2:59 pmCan't argue that either. But the fact is still......D-train wrote: ↑Sun Mar 26, 2023 11:50 amThe bubble burst because people started realizing companies with 7 million in revenues should not be valued at 7 billion dollars.Walla Walla Dawg II wrote: ↑Fri Mar 24, 2023 6:29 pm
The dotcom crash that Clinton caused. And you can see the 'surplus' was getting smaller and smaller.
It should also be pointed out that our government (Clinton) had nothing to do with the dotcom boom, but he and the government sure had a lot to do with that bubble bursting.
This was the dotcom economy and Clinton had nothing to do with it. But he did have something to do with the crash of it.