The DOW set a new all-time record. More here and here and here. What do the Democrats say? Where is Krugman? HELLOOOOOOOOOOOOOOOOOOOO?!?!?!?! You out there!?
UPDATE: The strong economy is primarily the result of PRIVATE US citizens working hard and working well - and having a federal government run by folks who want the government to stay out of our way and out of our wallets! YUP: Low taxes are a major factor. But, when Bush cut taxes the Left HOWLED: IT WILL RUIN US!!!! YUP: The Left promised us THE SKY WOULD FALL!
Well...er um... it hasn't. The sky is clear and the light is rosy. Mmmmmm....
In fact, the Left howls that the sky is falling ALL THE TIME - the Left's howls are a litany of FALSE HYSTERIA:
UPDATE: The strong economy is primarily the result of PRIVATE US citizens working hard and working well - and having a federal government run by folks who want the government to stay out of our way and out of our wallets! YUP: Low taxes are a major factor. But, when Bush cut taxes the Left HOWLED: IT WILL RUIN US!!!! YUP: The Left promised us THE SKY WOULD FALL!
Well...er um... it hasn't. The sky is clear and the light is rosy. Mmmmmm....
In fact, the Left howls that the sky is falling ALL THE TIME - the Left's howls are a litany of FALSE HYSTERIA:
Iraq and Afghanistan are disasters we can't win; the economy is headed for ruin; the Earth is boiling over; Gitmo is a Nazi torture factory; the NSA is listening to all our calls; the SWIFT program is looking at all our bank records; Wal-Mart is destroying the economy; the lack of universal healthcare coverage is a national disaster; BUSH IS TURNING AMERICA INTO A THEOCRACY; Bush is going to outlaw all abortions; and so on.All wrong - all hysterically wrong. WHY IS THE LEFT SO HYSTERICALLY WRONG ABOUT EVERYTHING? I blame Bush. Seriously. And... Rove. Heh. BOTTOM-LINE: The silence of the Left on the DOW, is golden.
Two absolutely devastating events have occurred in our economy in the last six years. The first happened mere months before Bush became President, so Bush inherited its effects, and that, of course, was the NASDAQ crash.
ReplyDeleteThe second thing was, of course, 9/11.
That we have come this far into the Bush Presidency without having a recession is a miracle. That we are actually having a kind of boom economy is unexplainable.
i can explain it in two words: tax cuts.
ReplyDeletethe long-winded version has two more: free trade.
the verbal diarhea version ahs two more: low regulations.
IOW: Hayekian/Reaganesque/Thatcheresque/GOP supply-sode PRO-COMMERCE policies.
Policies we'd never have had id Al Gore was prez.
And another thing: Gore or kerry woulda given us abominable SCOTUS nominees, too.
I'm bring this up because there are some prominent hawkish, modrate/right-of-center bloggers who are jumping ship on supporting the GOP and I think they are taking the broad range of Bush succeesses for ganted, and assuming that the Dems would be just as good - or just as bad - so why bother supporting the GOP.
The economy, taxes, the regulatory atmosphere, abd SCOTUS nominess are just a FEW of the ways in which a GOP fed govt is vastly better than a Dem one. And that list doesn't even mention the TRUMP CARD: the GWOT.
We need to buck up these weak-keed bloggers - like daily pundit and politburo and others.
I consider it major goal of the blog the next 4 weeks.
Good idea.
ReplyDeleteCome on, now. It was a Phony New High! Phony as a $3 bill.
ReplyDelete20 of the 30 dow stocks are still 20% below their all time highs. None of the Dow components made a new high.
The only thing standing between this week market and a crash is the election. But after that, look out below!!!
manystrom said... "only thing standing between this week market and a crash ..."
ReplyDeleteHYSTERICAL! a CRASH!?! bwahahahaha! manystrom: u r just another leftist telling me that the sky is falling!
You know, I don't know which 10 companies are still under their all time high, but I think that may be the result of another phenomenon of the tech age. Many companies will grow large and then live out their lifespan at an accelerated rate. The tech market moves faster, and in unexpected directions. I think this makes it more difficult to manage large corporations. Large corporations, of course, become slower in making decisions, and thus when change occurs, they are often left behind.
ReplyDeleteIBM and other tech companies have avoided this by starting small almost independent R&D arms.
But, you need visionaries to head these up, and visionaries will always be in short supply, especially in an age which is as entrepeneurial as ours.
Anyway, Manystrom, you gotta think with a little bit more nuance there. There is more to the story.
The market is way up as a whole, and the reason for that is the economy is strong.
Oh, and by the way, there will eventually be a recession again. We will always have market flux.
Thing is, Manystrom seems to be rooting for a recession.
ReplyDeleteThere isn't much future in being negative, Manystrom.