A Stock Market Vote of Confidence for Bush

[Dardedar]

By rightwing hack and knucklehead, Lawrence Kudlow. Note the date.

July 20, 2007


A Stock Market Vote of Confidence for Bush

Excerpts


Early last week, when the Democratic leadership of Harry Reid and Nancy Pelosi launched their latest antiwar offensive, stocks dropped about 150 points. Then, in a press conference a few days later, after Bush discussed clear successes in Iraq's Anbar province, the Dow Jones soared nearly 300 points, marching ever closer to the 14,000-point plateau.

Of course, shares trade on the profit and interest-rate fundamentals of the economy. But if you ask folks on Wall Street what their biggest worry is, most will say it's another 9-11. They rank another attack far ahead of passing sub-prime mortgage problems or wiggles in consumer spending.

The stock market, in fact, is voting for the president to stay on offense...

And Wall Street connected the dots, too: That day, the Dow had been down 150 points. But it rallied back 100 points after the Iraqi capture came across the tape.

This brings me to a larger point. Despite the criticism President Bush has received over his Iraq War policies, isn't it interesting that stock markets have been booming since early 2003, when Saddam was overthrown and the president signed his supply-side tax cuts into law? (Bush, of course, never gets any credit on either of these points.)

In just the past year alone, the Dow has gained a remarkable 30 percent. Meanwhile, Europe and Asia are up about 30 percent, Japan 23 percent, and emerging markets more than 60 percent. Clearly, the world is voting -- with real money -- for the American system of free-market capitalism. And it's my strong suspicion that the majority of the global investing community supports the Iraq War and a steadfast U.S. commitment to stop terrorism. They seem to know that if the United States doesn't do it, no one else will.

I have long believed that stock markets are the best barometer of the health, wealth and security of a nation. And today's stock market message is an unmistakable vote of confidence for the president. Even the best low-tax, limited-government economic policies can be thwarted if the men and women going to work in the morning can't get safely back to their homes and families at night.

And the fact that the world economy is experiencing the greatest economic boom in history is a direct rebuke to jihadists everywhere. Al-Qaida despises our country and its capitalist freedoms. And unless stopped cold in its tracks, it will strive to destroy the U.S. financial system and free-market development around the world.

The spread of free trade, the free movement of capital, low taxes and the breathtaking rise of the Internet -- these are generating more jobs, wealth and prosperity than ever before. And this amounts to a collective thumbing of the nose at the terrorists. It's as though world markets are saying that history is on our side and that the crazed self-proclaimed terrorist clerics will ultimately be defeated.

Free-market capitalism, 10; al-Qaida, 0.

And just as Bush won't give up on the surge, he's not about to default to the Democrats on the supply-side investment tax cuts that helped deliver a near six-year economic boom.
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...Bush deserves a lot more credit than most are willing to give him.
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Lawrence Kudlow is a former Reagan economic advisor, a syndicated columnist the host of CNBC's Kudlow & Company and a knucklehead.

LINK

[L.Wood]

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This should teach everyone NEVER RELY UPON AN INSIDER FOR FINANCIAL ADVICE. This exactly what Bush is doing right now with Paulson, relying upon a fellow
directly from the Investment Houses to give advice on how to fix America. He wants a fix alright, a fix for his buddies who will be jumping from windows if a fix
doesn't come.

Kudlow is a market fundamentalist. I used to watch him PREACH it once per week on McLauphlin Report on PBS. He maintained for years
all the market faults were "self-correcting."

Now this huge meltdown is gonna self-correct? Oh Where or Where is L.V. Ash when the nation needs him. He could lie Bush and Kudlow out of this one.
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