Asian and Australian markets fell hard for the second straight day including a 5.6% drop in Tokyo, 7% in Australia, China 7.2% and Hong Kong a brutal 8.7%. The Hong Kong market has lost over 21% in 2008. European markets collapsed on Monday though at midday, are slightly down. Wall Street is pointing in the direction of a painful day with futures down 4%.
In light of this economic mess that the GOP delivered, it is well worth stepping back and reviewing just how much benefit the Reagan and Bush terms in office provided for regular Americans. The rich all did quite well, but beyond that, their records on providing economic benefits to hard working Americans is terrible. Democrats ought to be pounding away at the facts that show how badly Reagan and Bush hurt the middle class. Let the GOP talk about how wonderful those years were and see how far it gets them. We used to be a country that believed in succeeding as a nation, but Reagan and Bush did their best to destroy those ideas. Of course we need individuals to step up, but to leave everyone else behind is not what we are about as a country. Any Democrat who thinks praising Reagan makes sense ought to look at the numbers and explain themselves.
