Blame It On Bush, Part II
The AP’s Ellen Simon is reporting on today’s strong finish in the stock market and on the Fed’s statements on the strength of the economy.
A strong manufacturing report from the New York Federal Reserve and an upbeat outlook from DuPont Co. lifted stocks for a second day Wednesday, pushing the Standard & Poor’s 500 past 1,300 for the first time since May 2001. The industrials, materials and transportation sectors led the market higher, allowing the S&P 500 to finally pop above 1,297, a ceiling the index has not been able to cross since November. “From a technician’s point of view, breaking through 1,300 was an important factor,” said Tobias Levkovich, chief US equities strategist at Citigroup.
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In other economic news, the U.S. Federal Reserve’s beige book, a compilation of economic reports from the Fed’s 12 district banks, said that economic activity continued to expand in January and February. Most of the Fed district banks characterized the pace of expansion as “moderate or steady.” Separately, a national survey of import prices showed they had fallen 0.5 percent in February, while export prices were unchanged, indicating that inflation pressures are contained.
Blame it all on President Bush’s failed economic policies.
PS- Expect this to be front page news tomorrow. NOT.
Cross-post at LetFreedomRing
March 15th, 2006 at 10:34 pm
Why stop with the economy? My blog notes how Supreme Court Justice Ruth Bader Ginsburg gave a speech in South Africa in which she blamed Republican politicians for a death threat made against her(!) - she said Republicans are fueling the “irrational fringe”
March 15th, 2006 at 11:43 pm
Oil companies are also getting record profits. Wooo-hooo for $$$ prices at the gas stations. If I’m paying $60/week to fill up, just think about how fat someone else is getting off my hard-earned cashola.
March 16th, 2006 at 12:27 am
The economy has been a great success for President Bush. He should have another primetime address to the nation detailing that. TV news gets all giddy over prime time events - that would help get the message out.
I have mixed feelings over the Oil companies:
- Clinton and Bush should not have allowed so many mergers. This is nearly like Standard Oil all over again.
- The high oil price has not stopped the economy from growing.
- The economy could have been much better with oil costing less.
- Big Oil and environmentalists both benefit every time more California, Alaska, Florida & Gulf of Mexico oil production is outlawed.
- I cannot believe Hillary Clinton ever mentions “foreign oil dependence” considering how she only wants oil production legal in other countries.
- Yesterday, Mexico’s total oil reserves increased from 46 to 56 billion due to a new discovery. El Presidente is enthusiastic about getting this to market (including the US!). Of course this will take years.
March 16th, 2006 at 1:22 pm
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