Discussion in 'Economy' started by Annie, Oct 19, 2006.
Clinton once said "It's the economy stupid"....
This new could not have happened at a worse time for the Dems because it may have an effect on the elections next month. And the effect will not be to the Dems' liking.
The startling revelations of Rep Foley are now becoming old news. The DJIA crossing the 12000 mark is now front page news, as is any time the DJIA crosses cross a triple zero milestone.
This milestone brings credence to the Administration's claim that the economy is good and validates to people in general that they actually are better off than they were in 2000.
Add the fact that gasoline prices are headed downward and unemployment is at the lowest point in years. The last report was about 4.7%, which may be the same or slightly higher than the best unemployment numbers during the Clinton Administration. In fact, in spite of the fact that gas prices shot up, inflation does not seem to have risen much at all.
The earnings reports that have been coming in are almost all good, so the rally that we are seeing may be founded on solid ground. Unlike the stock market of the late 1990s that was fueled primarily by speculation on ".com" stocks.
In contrast, all the Democrats can offer is revelation of scandal and promising investigation, impeachment and general disruption of the government if they are voted in. This should give the impression that they had no part in bringing about the generally good economic times that we are currently in.
In addition, they seem to be stuck in prophet of doom mode, trying to convince us that people are starving, the corporations are getting rich while the working class is being sent to the poor house. None of this seems credible to a nation that is hearing non-stop "help wanted" ads, working overtime, trying to fill back logs and seeing the value of their 401(k) plans rising.
I liken their scare tactics to someone yelling "FIRE" at a water theme park... it's possible, but not very believable. The problem with this approach is that it may come back to haunt them.
(I KNOW!!!! IT'S A PLOT BY THE WHITE HOUSE!!!! I KNEW IT!!!! KARL ROVE MUST BE INVOLVED SOMEHOW!!!!)
The bubble goes "pop"!
I see this generally being good for consumer confidence (and therefore people will think well of the Republicans right now) although I also think that we overall have an investment market that is not very stable, and if the housing market crashes sometime soon you'll get the opposite effect.
U.S. markets today on 26/3 look under pressure after full weak rally.
Global market to follow dow's performance.
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