Naturalized-Texan
02-06-2007, 09:11 AM
Bull-Market Cheers for Bush (http://article.nationalreview.com/?q=ZjA5NDE3MzI0ZmYyNmE4Mzc5OWNmYWUwMmIwZjllNTE=)
On a day when the GDP report came in strong and the Federal Reserve proclaimed a balanced economy marked by healthy growth and contained prices, President George W. Bush became only the second sitting American president to visit the floor of the New York Stock Exchange. As he moved from trading post to trading post, floor brokers and assistants stopped their work and started to cheer.
Huge cheers. Loud applause.
This is the same guy the mainstream media loves to kick around — the same guy who suffers sinking polls while standing resolute on the subject of Iraqi freedom, and who gets virtually no credit for the Goldilocks economy and unprecedented four-year stock market boom. He’s also the same guy who continues to prove he has more character than most anyone serving in public office today.
The last time Bush was in downtown New York was just after September 11, 2001. Back then, everything was devastated, including the NYSE and the U.S. economy. But this week the president returned to a much different scene: Huge cheers. Loud applause. A stock market that continues to set record highs. An economic recovery that defies media pessimism and doomsday Democratic carping.
...............
It’s about time more people start giving Bush credit for today’s strong economy. That’s right — it’s the greatest story never told.
............
Both the late Milton Friedman and supply-side guru Arthur Laffer have taught us that inflation occurs when too much money chases too few goods. However, as the Fed has throttled back money-supply growth, the continuing gain from the production of more goods and services has actually reduced inflation. More output chasing slower money growth is a prescription for contained inflation.
On a day when the GDP report came in strong and the Federal Reserve proclaimed a balanced economy marked by healthy growth and contained prices, President George W. Bush became only the second sitting American president to visit the floor of the New York Stock Exchange. As he moved from trading post to trading post, floor brokers and assistants stopped their work and started to cheer.
Huge cheers. Loud applause.
This is the same guy the mainstream media loves to kick around — the same guy who suffers sinking polls while standing resolute on the subject of Iraqi freedom, and who gets virtually no credit for the Goldilocks economy and unprecedented four-year stock market boom. He’s also the same guy who continues to prove he has more character than most anyone serving in public office today.
The last time Bush was in downtown New York was just after September 11, 2001. Back then, everything was devastated, including the NYSE and the U.S. economy. But this week the president returned to a much different scene: Huge cheers. Loud applause. A stock market that continues to set record highs. An economic recovery that defies media pessimism and doomsday Democratic carping.
...............
It’s about time more people start giving Bush credit for today’s strong economy. That’s right — it’s the greatest story never told.
............
Both the late Milton Friedman and supply-side guru Arthur Laffer have taught us that inflation occurs when too much money chases too few goods. However, as the Fed has throttled back money-supply growth, the continuing gain from the production of more goods and services has actually reduced inflation. More output chasing slower money growth is a prescription for contained inflation.