Man Without Qualities

Monday, February 04, 2002

Is Democrat and Media Harping on the Enron Scandal Damaging the Economy?

When Bush first signaled his awareness of the recession, the Democrats and some in the media were quick to accuse him of causing a recession by stirring up market anxiety. There was no recession, the Democrats argued, because Clinton left the economy in great shape. This particular criticsm abated once the economic statistics showed that the recession had actually already started far earlier than almost anyone had previously believed. But the Democrat and media critics never acknowledged that their argument was bogus.

By their own argument, don't the Democrats and their media sympathizers now risk suppressing the economic recovery by stirring up the very market anxiety reported in today's papers? Is their excessive harping on the Enron scandal for political advantage damaging the economy?

The papers today are full of reports that the stock market has - as one report put it - "crumbled" because of Enron-related anxiety over the reliability of financial statements in general. At the same time, the Democrats and their sympathizers in the media are attempting to use the Enron disaster for politicl gain. The New York Times, for example, has been running a preposterous number of stories and editorials on the subject, as hilariously described by Mickey Kaus in his "Enrotica Overdose" passage on Kaufiles.

Is there a link?

Is the nation paying for Democrat and liberal media excess?

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