Is there anything George W. Bush can't do? According to NRO's Larry Kudlow, the president's got the power to make the stock market go koo-koo for Cocoa Puffs. That link will take you not only to the Kudlow post, but to Stuart Buck's skeptical comments about it. Kudlow writes:
The stock market boom is part of a global phenomenon as the spread of market capitalism marches worldwide. Record wealth gains and growth are occurring in all corners of the globe. I have long believed that stock markets are the best barometer of the health and wealth of a nation. This market indicator reflects economic growth and business conditions, in addition to overall safety and security.My strong suspicion here is that the message of the American and global stock market boom is one of support for the Iraq war and a steadfast US commitment to stop terrorism. If the U.S. doesn’t do it, no one else will.
Well, there you have it: thousands of American troops may have been killed, maimed or psychologically damaged for life serving in this bad war in Iraq; global capitalism is shaking up societies, sparking mass migrations that challenge national sovereignty and economic security of the working and middle classes; people stand at risk of losing their savings in a single catastrophic illness because of the lack of health coverage; and ... oh, stop it. Stock investors are making money, so all's well, what, what?
I don't mean to discount the importance of economic health, but good grief, this sounds like a bad left-liberal caricature of the conservative worldview. But it's not a joke.
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Congratulations on your hundred hour weeks. NEver mind that those hundred hours are spent keeping the books for the people at the top that only have fortunes to be "accounted for" by folks like you from the labor of the millions beneath them.
By laboring to save those few at the top the most money possible, you help enable the oppression of the millions beneath them. Better that the rich own 3 homes than the poor own one, I'm sure.
Joe said:
"Besides, the stock market is a leading indicator. It's saying that everything will be hunky-dory later."
Not quite. It may be that the monetary authorities have been printing money like there is no tomorrow, so that prices are being inflated. Try tracking the value of the US (or overseas) stock markets in barrels of oil or ounces of gold: I think you will find that we are nowhere near the highs of 2000.
As for the "hunky-dory" world of tomorrow? Consider this: "When people say, 'There is peace and safety,' then sudden destruction will come upon them as travail comes upon a woman with child, and there will be no escape." (1 Thess. 5:3)
Lee
Oh, so now I am responsible for the oppression of others. Wow, I didn't know I had so much power. You know nothing about me. Maybe you should worry about your own life before judging others. No, actually I have made sure that my employers financial statements were accurate so that pension funds of ordinary people would know what the fair price of the stock would be. I work to ensure our books are materially free from mis-statement. Also, many unions invest and I help ensure they don't get screwed. So actually, I help ensure fairness. I help the little guy.
Keep tellin yerself that, CPA-man ;)
'BTW - I don't recall Jesus teaching universal healthcare or income re-distribution. In fact, I don't think Jesus taught anything regarding preferred style of gov't or economy. Hmmmmm?"
Who would Jesus bomb?
Remember guys, war is good business-invest your kids.
Kim M
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