Comments: Decline and Fall

Some may see this as our nation's low point, but me? I'd have to say that saving rock'n'roll from the horrors of inspid disco was probably the moment of rebellion when Americans decided, "enough BeeGees, bring us Bob Segar!"

I can only note that it was barely a year later that Ronald Reagan was elected. Coincidence? I think not!

Posted by Dean Esmay at September 22, 2005 01:15 AM

Disco laid the groundwork for hip-hop, house, techno, trance, and downtempo music. Disco, like Jazz, was a uniquely American creation. No one could start a party and kick some tight grooves like us in the 70s. Yes, it is a low-point watching Americans destroy an American creation.

BOOGIE OOGIE OOGIE!

Posted by T-Steel at September 22, 2005 09:32 AM

I do not see why the so-called Chrysler bailout is included in your evidence. Chrysler ran into a short-term loan restructuring problem after Renault screwed them on the leveraged buyout of AMC. Congress voted to co-sign the loan, but the fact is that Chrysler repaid the loan ahead of time using profits from their ongoing sucessful operations. The only cost to the taxpayers was a trivial amount of paperwork expense.

Posted by triticale at September 23, 2005 07:58 PM

Chrysler's woes were a prime example of the industrial malaise which affected U.S. industry in the late Seventies. Plus, the Chrysler situation is an example which is familiar to pretty much everybody. I also don't think anyone ever thought it was a good thing.

So that's why I used it: as just one example out of many in my proof.

Posted by Benjamin Kepple at September 23, 2005 10:01 PM

1) Why is it the business of Congress to save private companies?
2) The supply of loanable funds is not infinite. Someone else did not get to borrow that money because Chrysler did. So that is at least one cost, of unknown magnitude.

Posted by Gene Callahan at September 27, 2005 12:33 AM