ANDREW SULLIVAN writes about economic schadenfreude. But he suggests that the economy won’t make much of a political issue:

After the crash of 1987, the Democrats and liberals made every effort to portray the 1980s as a decade of greed, fomented by selfish Republicans. But that is politically much harder to do with the 1990s. It was an era when the Democrats finally managed to persuade Americans that they could manage the economy. Today, the Democrats don’t have any deep incentive to alter that perception. That’s why they want to link the current corporate excess with a Republican administration – a strategy undermined solely by the facts.