January 6, 2006
MOST PEOPLE WOULD TURN YOU AWAY, I DON'T LISTEN TO A WORD THEY SAY*:
Dow hits highest close since 2001 (Reuters, Jan 6, 2006 )
U.S. stocks rallied on Friday, extending the week's gains and pushing the blue chip Dow to its highest close since June 2001, as news of lower-than-expected job growth fueled optimism about an end to interest-rate hikes that had weighed on investor sentiment about the economy and corporate profits.Posted by Orrin Judd at January 6, 2006 5:16 PMBased on the latest available figures, the Dow Jones industrial average <.DJI> was up 73.96 points, or 0.68 percent, at 10,956.11.
michael jackson fan, eh ? i knew it
Posted by: toe at January 6, 2006 5:45 PMjackson 5, ben, i.e. bernanke...
Posted by: b at January 6, 2006 5:46 PMDamn "stupid party", they're pushing this economy to the brink of a Hooverish depression!
Posted by: Jayson at January 6, 2006 8:44 PMIy's Bush's fault! Bless W! Thank G-d Kerry was defeated!
Posted by: obc at January 6, 2006 9:15 PMAnd here I thought the Republicans forgot about the Dow, since it's taken this long to get exactly where it was in 2000. Awesome! If it triples, like it did during the reign of the Democratic president, it will be...36,000!!
Posted by: Rick Perlstein at January 6, 2006 9:16 PMMeanwhile, as traders raise the Dow's average in anticipation of Ben Bernanke's arrival at the Federal Reserve, an obviously flustered Andrea Mitchell, facing the prospect of having Allen hanging around all the time now, tries to explain blurting out that Christiane Amanpour-NSA spying report on Chris Matthews show.
Posted by: John at January 6, 2006 9:35 PMRick:
Don't you mean under the watchful eye of a Republican Congress?
Posted by: jim hamlen at January 6, 2006 9:38 PMNow that Greenspan is gone it may well.
Posted by: oj at January 6, 2006 9:41 PMSo, Jim, Democratic President+Republican Congress=exploding Dow.
Let me be gracious and grant you the point.
How does that look good for the Republican Party, when it's now Republican President+Republican Congress=stagnant Dow?
Posted by: Rick Perlstein at January 6, 2006 11:00 PMRick:
When it's unemployment under 5%, inflation under 2% and GDP over $12 trillion it looks like a permanent majority party.
Posted by: oj at January 6, 2006 11:12 PMMy, my how quickly they forget 9/11.....
Posted by: Sandy P at January 6, 2006 11:15 PMRick:
Thank you for your forbearance. But let me note that the Dow is up considerably since late 2002.
Meanwhile, let me ask: what exactly did Bill Clinton do to make the economy so strong during his tenure? Other than the 1993 tax increase, what specific measures did he take on the economy? I'll grant that he signed NAFTA, but most leftists hate that, anyway (and it certainly wasn't his initiative). What did he do to make the economy strong?
Posted by: jim hamlen at January 6, 2006 11:26 PMRick: Was it a bubble economy or not? Are you saying that we should aim for a bubble economy and that the bubble was Clinton's great achievement?
Posted by: David Cohen at January 6, 2006 11:54 PMit's a sad day in leninville when comrade perlstein is toasting the dow breaking 12,000. guess he just thinks its more rope to hang us with.
Posted by: toeski at January 7, 2006 12:14 AMActually it's a pretty good day for the country when both major parties are competing over who is best for the stock market. Welcome aboard the U.S.S. Malefactor of Great Wealth, Rick.
Posted by: joe shropshire at January 7, 2006 12:37 AMHas Rick congratulated the president for the rise in housing yet?
Posted by: bmn at January 7, 2006 9:28 AMIt's not even the values so much as the volume of ownership.
Posted by: oj at January 7, 2006 9:34 AMOJ: your friend is even worse at arithmetic than you are.
"If it triples, like it did during the reign of the Democratic president, it will be...36,000!!"
3 * 11,000 = 33,000 not 36,000.
Posted by: Robert Schwartz at January 7, 2006 5:43 PM