So much for the DJIA as a measure of Bush’s economic success
Yesterday, the Dow Jones closed at 13,473.
On the day Bush was sworn into office in January 2001, the Dow Jones stood at 10,732. A 25% gain is good…right?
Under Reagan, the Dow went up 148%. Under Clinton, it grew 187%.
Here’s why.
Cheap money is no longer available. It is what has been driving up the stock market. Next time someone tells you it was republican tax policy, bitch slap them. (smile) If borrowed money is cheap then one can afford to spend more in the acquisition of a corporation, because on the bottom line, the cost is the same. Similar to the housing boom which has now ended, the monthly mortgage is the same on a house costing 250,000 at a 3% rate as an 80,000 house at 9%. Just as house prices soared, so did the price of corporations, pushing the market upward……….
Well, ladies and gentlemen. That push has stopped, as of yesterday…….The Fed may react someway and save us from a crash similar to the last time money was not available…..1929.
No doubt my NUTs will see this as a sign that taxes have not been cut enough.
And we reach day #1,459 of Jason not factoring the Clinton mini-recession or 9/11 into his economic history lesson.
OK, enlighten us. Factor them in for us and tell us what the effects are, and how Bush and the Republican Congress are not responsible.
Are you speaking of the recession which began in March 2001?
the DJIA is not an indicator of success for the middle class. what a fucking joke. It is an indicator of how well companies are doing. For all these people that seem to think huge dividends and great P/E ratios translate into me being better off they are on crack. Tell that to the 7000 people being laid off at AZ.
You are being laid off, but hey, the stock market has gone up 25% since Bush was in office….
wooohoooo, congrats, the economy is doing well.
If I have to listen to Maria Bartiromo tell me the country is doing fine b/c the DJ is hitting high after high I’m going to put my foot through the TV.
And you guys can talk all you want about the economy, but every leading indicator is through the roof.
Hmmm…I don’t hear any qualifications in that comment from two days ago – but suddenly “9/11” is a big factor. Did “9/11” jump through the window of the NYSE yesterday and start beating up the traders? Did “9/11” make foreclosures go up in Kent County? Help me out Dave.
is 9/11 a new rap artist? he sounds pretty thug. my guess is he could kick the crap out of those guys on the floor
Let’s see, under Regan the DJIA went up 140+% and under Clinton 180+% and “W” manages a wobbly 25%. Yeah, that’s success.
Why should the DJIA be any different from anything else this incompetent loser has touched? Totally, absolutely, failed. He hasn’t managed to get a single thing right. What a sorry excuse for a human being.
So true R.
It is hard to keep everything that Bush has done wrong in mind because he is just such a absolute catastrophe.
For everything we know that he has F’ed up there are probably another dozen things that we don’t know about.
And yet, like lemmings, the Republicans in Congress can’t muster enough statesmanship to vote against him. Party before country and the American people be damned.
The DJIA is one of many things which help evaluate the economy along with inflation, unemployment and export growth among many others.
The DJIA is a bit of a “teaser” as all of us know that stock prices are manipulated as much as possible by CEO’s.
Part of the problem for stock price growth has been the runaway government spending. Governments are the last efficient entities to use and manage money and resources.