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October 04, 2006

Democrats - there's no silver lining when there's a black Rethuglican core

Sheesh

The Dow Jones Industrial Average closed at a record high on Tuesday -- but not everyone is celebrating the milestone as a positive development. According to one Democratic operative, the Dow's record close is "not an achievement but a failure." Robert Weiner, a Democratic strategist and former member of the Clinton administration, [...]

"Scratching and clawing to achieve this milestone almost seven years after the earlier record is not an achievement but a failure."

Let's see, the last time this happened in Jan 2000, it was fueled by the Dot Com "no there there" bubble...and we know that the writing was on the wall. Then, the economic hit we took on 9/11/2001.

The stock market has moved back into record highs, inflation is less that 3%, unemployment is under 5%, interest rates are under 6.5% and Federal tax revenues are hitting record highs.

We already know the Dems are unserious about national security, now is the setup for a Dem return to House leadership where they've already signaled that want to significantly raise taxes by reversing the Bush tax cuts, thus "recapturing" all the low-income people that were removed from the taxrolls and raising the 10% tax rate to 15%.

Bravo, Dems. Bravo.

If you're under 40 you probably have no idea what a bad economy looks like. You might even expect a great economy 24/7 as 'normal' and an entitlement.

Google "stagflation."

If you want a real recession coupled with further appeasement of Islamic fascism, well, then go right ahead and Vote Dem!

Yeah, that's the ticket.

Posted by Darleen at October 4, 2006 06:52 AM

Comments

January 2001: Dow at 10,887.36.

Today: 11,750.28

Source

Thats a whopping six year net of 862 points- plus you should also duly ignore 70% of the Dow's components are still down 20% or more.

But by all means Darleen, break out the champagne.

-And forget that deficit.

Posted by: RPG at October 4, 2006 09:50 AM

Yes. If you'd invested $1000 in the market six years and nine months ago (when it hit 11,700) then today your stocks would be worth $1000 and change.

some progress there....

Posted by: Brad at October 4, 2006 10:49 AM

Yes, Darleen. Let us never forget the terrible recession of 1992-2000.

Posted by: Josh at October 4, 2006 02:09 PM

You would think someone smart enough to turn on a computer would be smart enough to understand the effects of a bubble market (dot com crash), a devastating terrorist attack aimed at our financial markets (9-11) and an on-going war would have on the economy. Taking these in consideration the current economy is not only remarkable, it is pratically a miracle.

But I guess the three previous posters are the exceptions that prove the rule.

Posted by: gahrie at October 4, 2006 02:52 PM

of a bubble market (dot com crash)

Which was five years ago and confined to a small sector of the market.

devastating terrorist attack aimed at our financial markets (9-11)

Which had little impact outside of NYC and the travel industry.

an on-going war would have on the economy

Wars are bad for the economy only to the extent they encourage deficit spending.

But I guess the three previous posters are the exceptions that prove the rule.

Perhaps. But I bet we're at least intelligent enough to understand how to use that cliche properly.

Posted by: Josh at October 5, 2006 08:41 AM