Carol Platt Liebau: Republicans, Speak Up!

Wednesday, July 18, 2007

Republicans, Speak Up!

The New York Post points out the excellent shape of the economy -- and the fact that under President Bush's stewardship, the Dow has risen from 7700 in the wake of 9/11 to over 14,000 yesterday.

How pathetic that so many Republicans are in such a purple panic over Iraq that they can't even find the time to point out some economic facts that aren't only true -- but are also likely to help them politically.

10 Comments:

Blogger Earth to Carol said...

Since Bush took office in 2000, the Dow is up 16%, the S&P 500 is about even, the NASDQ is down 50%.

Not good performance at all.

7:46 PM  
Blogger stackja1945 said...

Carol, the MSM will not allow such good news to be broadcast. Many in the GOP have been conditioned like Pavlov's Dog. Bad news and they salivate.

7:47 PM  
Blogger One Salient Oversight said...

Any gains US sharemarkets are making are countered by the fall in the value of the US Dollar.

In relation to the rest of the world, the US is going nowhere.

11:16 PM  
Blogger Greg said...

Brilliant economic analysis from Salient - NOT !

10:08 AM  
Blogger The Flomblog said...

OSO - the so-called fall in the value of the dollar is not as simplistic as you might think. Remember, we are in competition with Europe over trade. A stronger Euro, or weaker Dollar (same thing?) means American goods are more affordable in Europe. Hence more sales of American goods, more income to American workers and the net effect is a boost to our economy.

One would think that a left-wing internationalist might be aware of the value of free trade?

7:26 PM  
Blogger One Salient Oversight said...

With a current account deficit of 6% of GDP, America has been on a borrowing and spending binge.

To be sure, a lower US Dollar will lead to greater savings and production in the US, but this process will take a while for the economy to "gear up".

In the meantime, a lower US Dollar will inevitably lead to higher inflation and higher interest rates - the latter being an economy killer with the subprime bloodbath still not over.

And, as it stands, Americans who invested in international sharemarkets at the beginning of 2007 would have gotten 50-100% more return than the Dow or S&P 500.

Even the French sharemarket has outperformed the Dow.

9:12 PM  
Blogger The Flomblog said...

OSO - that may have been true once, but -- Inflation has some pretty good controls (Controlling Interest). As a free market economy we gear up almost instantly where profit incentive is available - bear in mind that this gearing up is driven by individuals, not the government.

Yes we have been on a deficit spending splurge. That is and will be continuing problem, as for the relative strength of our economy vs Europe's - it comes down to "is the glass half full or half empty"

Don't forget - we pay the free-worlds defense expense. With the exception of the Brits, Anzak's and Israeli's, we provide security for these booming economies.

Perhaps if they start doing well they might start paying their own way?

6:16 AM  
Blogger One Salient Oversight said...

Protection from whom? Was Europe threatened by Iraq?

America "owes" the world big - it's a figure that is growing daily and is measured by dollar figures. America is borrowing money from the rest of the world and when the rest of the world decides to invest back into its own then it is payback time for the US.

What you're essentially expressing Flom is a sense of entitlement.

11:43 PM  
Blogger The Flomblog said...

OK, Saddam was giving the families of suicide-bombers at least $10,000 US. He Used poison gas on his own people. If it weren't for Israel he would have had nukes. Iraq is not that far from southern Europe and the man was a Hitlerian madman.

OK, Protection from whom. During the Cold war, the only defense that Western Europe had from a soviet attack was the US Military. Look at the rumblings coming out of Russia today? If we pulled our military out of Europe 2 things would happen

1. the economies that are supported by GI's would be devastated
2. Russia would start their own Reconquista.

We owe the world big? There are 58,000 names on a wall in DC - The streets of France were paved with American Blood. If the Anzaks (meant with honor and respect) did not have the US Navy prepared to make a stand against Japan, guess what would have happened?

Perhaps we have made an investment in your freedom, OSO.

6:42 AM  
Blogger One Salient Oversight said...

This comment has been removed by the author.

6:17 AM  

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