It's the Enronomy, Stupid
December 14, 2001
by Walt Starr
George W. Bush believes he can coin new words for the English language, so I thought I'd give my first shot at this practice with enronomy. Look at the beauty in the word. Enron is a perfect analogy for the current economic conditions in this nation. Previously number seven on the Forbes 500 list, and now bankrupt - compare it to the Clinton economy being taken over by Bush and run into the ground.
The entire idea of the enronomy runs deeper than any analogy, however. The complicity of the Bush administration in the happenings of Enron had detrimental effects on the enronomy (there's that word again). Sixty billion dollars just disappearing from the enronomy must have a detrimental effect, and let's face facts, there is no way that members of this administration didn't know what was going on.
Surely what happened to the employees of Enron can only be described as trickle down enronomics! That's exactly what Bush is doing to the average worker in America.
I don't think anybody who had a dime in a mutual fund as a part of their 401K has been unaffected by Bush's enronomy. I know that California residents are amongst the hardest hit in this Bush enronomy for nothing more than the skyrocketing prices of energy this past summer.
Even Bush's home state has not gone unscathed in our current enronomic situation. Look at the poor residents of Houston, the city hardest hit by the Bush trickle down enronomics.
Now it looks like the Bush enronomy is going to get even worse. There's talk of privatizing Social Security. Why, think of how your 83 year old grandmother would've done with her money invested in the Bush enronomy: start out with $90 this week, only to have 90 cents at the end of the week, and not even spend any money!
Yep, Bush's enronomic plans for Social Security can only line the pockets of corporate executives while bankrupting the average American's retirement plan (look at your own 401K if you have any doubts).
Maybe Karl Rove will make out from inflated stock prices due to overinvestment, but when he sells his two million shares, what will be left for the average guy who has less than a thousand? And just like those workers in Houston, you won't be able to sell your shares while the price is up because you'll be locked in.
The selling of influence comes at a high price. It cost Kenneth Lay two million dollars. Jeff Skilling had to leave the country, poor guy. Luckily he went to Brazil where he will never have to face extradition before Mr. Bush gives him his pardon. Phil Gramm may have been forced to leave his job, and it's possible that Dick Armey had to leave his job too. Enronomics is tricky business.
In less than three years, this nation will have to face the consequences of trickle down enronomics. Hopefully, the Democrats will remember to tell Mr. Bush, "It's the Enronomy, stupid."