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« Comment Policy... | WILLisms.com | McCain Talks Tough On North Korea »
The Bubble Economy.
An informative graph from the author of The Bush Boom:
The stock market isn't "the economy," but it is a fairly decent indicator of where people think the economy is. During the bubble of the late 1990s, the roaring stock market also paralleled roaring job creation and roaring wage growth and so on. All without the fundamental, underlying support of actual profits/earnings.
Today, even as the DOW has reached new record highs, it may very well still be undervalued, given the underlying strength of today's American economy. 6.6 million new jobs in three years is a big deal. Shrinking deficits are a big deal. The robust GDP growth of the past few years is a big deal.
In other words, despite a complete lack of respect from the establishment media (probably in part because their own micro-economy is so terrible), the American economy is "kind of a big deal."
Posted by Will Franklin · 10 October 2006 05:30 PM
Comments
The economy is not a dirty pirate hooker.
Posted by: Hoodlumman at October 10, 2006 08:48 PM
Interesting. First Allahpundit uses a pic from Anchorman for a post, and now you put up a clip from the movie?
I smell conspiracy.
Posted by: meep at October 11, 2006 07:36 AM