Larry Kudlow on the great economy,
Averages across-the-board are now moving toward all-time highs: Dow, transports, utilities, the small cap Russell 2000, the NYSE index and D-J Wilshire 5000. Inside the indexes, the story is the same: commodities, cyclicals, defense, machinery and construction all hitting all-time highs. The depth, breadth and resiliency of this rally is remarkable.
America’s bull market economy stands at the epicenter of the newly capitalist world market economy. Therefore, it is no surprise that America’s stock rise is being emulated around the world. This is called economic leadership.
The reality is that non-inflationary growth and rising living standards are occurring all around the globe. For this, thank the spread of American-style, free-market capitalism. Some call it cowboy capitalism, but I prefer to think of it as prosperity capitalism.
Record wealth is now being created among a hundred million-plus investors in the United States, including union and public employee pension fund holders who are 60 percent invested in the Bernanke bull market. This, even though they rail against stock market wealth and business in general, and still don’t get it that their retirement wealth bread is being buttered by the fabulous expansion of the portfolio value of the ownership society.
Stocks are the best barometer of future business and economic health. They are signaling that the wealth of the nation currently and prospectively looks excellent.
Democrats rule the roost on Capitol Hill, but Bernanke stuck to his free market principles. He is targeting inflation and employment, and so far doing a good job with both.
Does anybody remember that President George W. Bush appointed Bernanke? And that Bush’s record-low tax rates on capital have promoted strong economic growth? And that this tax-driven growth and investment surge brings inflation down by absorbing the excess money created by Alan Greenspan between 2003 and 2005? The availability of more goods and services makes the existing money supply less inflationary.
In his brief tenure, Bernanke has mopped up this excess liquidity and reduced inflation expectations. Meanwhile, low tax rates are counter-inflationary. So, a combination of strong economic growth and newfound monetary control are working together for the betterment of investors, workers, businesses and federal finances. The supply-side model is very much in place right now.
Contrast that with France
The “Surge” appears in the streets of Baghdad. Muqtada al-Sadr goes AWOL. The terrorists are hurting.
Where are the Democrats?
Democrats Will Follow Iraq Vote With Push to Block More Troops
And they support the troops, yeah, right.
It’s called De-legitimizing the Troops, folks.
El Cafe Cubano continues the Friday fast for all political prisoners.
Critical Theory is an ongoing and brutal assault via vicious criticism relentlessly leveled against Christians, Christmas, the Boy Scouts, Ten Commandments, our military, and all other aspects of traditional American culture and society.
Both political correctness and Critical Theory are in essence, psychological bullying. They are the psycho-political battering rams by which Frankfurt School disciples such as the ACLU are forcing Americans to submit to and to obey the will and the way of the Left. These devious devices are but psychological versions of Georg Lukacs and Laventi Beria’s ‘cultural terrorism‘ tactics.
Read it all. (h/t Larwyn)
Dr. Krauthammer writes on how Russia steps back on the world stage
Amanda Marcotte manages to put together half a dozen sentences without profanity. She keeps that up, I’ll start believing in global warming.
It’s 13F in The Principality. Amanda’s got her work cut out for her.
Who’s to blame for Marcotte’s fall? According to her, Dan’s one of the culprits.
Over at the church of global warming, Antarctic temperatures disagree with climate model predictions
A new report on climate over the world’s southernmost continent shows that temperatures during the late 20th century did not climb as had been predicted by many global climate models.
This comes soon after the latest report by the Intergovernmental Panel on Climate Change that strongly supports the conclusion that the Earth’s climate as a whole is warming, largely due to human activity.
It also follows a similar finding from last summer by the same research group that showed no increase in precipitation over Antarctica in the last 50 years. Most models predict that both precipitation and temperature will increase over Antarctica with a warming of the planet.
Oh, I forgot, it’s not global warming; it’s climate change.
Stop the ACLU celebrates its first million visitors.
Al Franken announces a run for the Senate: a Transcript (h/t Larwyn)
Don’t trust those Reuters photos. And yes, the bombs are retarded.
If you’re a woman who can’t find a guy who wants to commit, and you can’t figure out why, read this.