Weeeee!!! Tax Cuts Work!!!! (Unless They Don’t!!)
…and when they don’t, the cure is more tax cuts.
DJIA at 10,600 is the number to watch. That was where the market was when the Chimpy was installed by the Supreme Court.
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You are right…somewhat. That’s only part of the story. You forgot the loose policy allowing for way-low interest and no restraint lending. That might have some play here, too.
Either way, it still marks chimpy’s time.
I really hope that y’all aren’t so foolish as to believe that the government controls the economy.
In 1990, taxes were increased — and the economy tanked. In 1993, taxes were increased, and a year later the economy took off. In 1981-3, taxes were cut, and the economy took off; in 2001-3, taxes were cut and the economy took off — except that now it seems to be headed down again.
Businessmen and investors have to make some adjustments for government policies on tax rates and interest expenses, but, for the greatest part, the economy does what the economy will do regardless of the government.
puhlease….the government’s econ policy has no bearing on the greater economy?
The govt sneezes too loudly and the DOW jumps. The fed tweaks a bit and the market rebounds. Just putting Cheney in a position of policy deliberation has allowed the market’s energy ‘piece’ to rattle the rafters. (not to mention his former company’s bottom line, what with all of those nasty asbestos class action business out of the way)
but, for the greatest part, the economy does what the economy will do regardless of the government.
Huh. Somebody needs to tell the Shameless Spokespeople for Corporate Welfare Queens on CNBC that they should stop stamping their feet for the Fed to give them lower interest rates and for some bailout of their mortgage mess.
heh, Cassandra M., great example of the relationship in reverse. Market schleps who bet the house on the housing market bubble now want bailout. And Bushie, the commies in China and the Saudi sultans are all to willing to shove aside that invisible hand that holds the markets’ ‘free’.