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The Economic Wheels Are Coming Off?

Posted by Bob Wood aka TrekTek on Tuesday, November 04, 2008 5:31:49 PM
Beldar posts this at HughHewitt.com:

Quote:
Dow-Jones at 9633.01 as I write this
Posted by: Bill Dyer at 11:53 AM

(Guest Post by Bill Dyer a/k/a Beldar)

Barack Obama wants you to believe that John McCain was simply insane when he insisted that the "fundamentals of the American economy are strong." Yet the Dow-Jones average is back within striking distance of 10,000 again — which ought to be a huge relief to those who've been fretting over their 401k and other retirement accounts.

That's not to say that all is rosy on the economic front. But we're not in another Great Depression — and the greatest threat on the horizon is that a tax increase could turn a short and relatively mild recession into something worse in 2009.

— Beldar

The DJIA closed at 9625.28 - up 305.45 or 3.28%
The S&P closed at 1005.75 - up 39.45 or 4.08%
The NASDAQ closed at 1780.12 - up 53.79 or 3.12%
 
In November 2000, the DJIA was at 10300, on its way to a low of 7400 in October 2002. Then the Bush tax cuts kicked in and the market began a steady climb to a high of 14198 in October 2007. That was steady growth through five straight years! Bush economics was not such a bad thing after all, it seems.

And, by the way, the lowest point for the DJIA occured on October 10, 2008, at 8451. In a bit over three weeks, the market has gained 14%, or 8.27% of the value from October 2007.
 
Why have ALL of the politicians - especially those on our side - kept so quiet about this news?

Seems John McCain was right all along. And Obama and the rest of the Democrats were wrong...
 
Your comments are welcome...
 
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