Bush Boom
More evidence that Bush has successfully driven a stake through the heart of the Clinton Recession:
- Construction spending surged in August to the highest level on record, fresh evidence that the housing market is helping move the economy ahead.
- The Institute for Supply Management’s manufacturing index posting the 16th straight month of growth in that sector.
- Stocks surged:
For the week, the Dow ended up 1.45 percent, while the S&P advanced 1.93 percent and Nasdaq rose 3.34 percent. All three indexes turned in their highest weekly percentage gain in six weeks.
- Personal income continues to rise:
Morning Reads.
Jeff Quinton names his Guest Bloggers – congrats on making the team, guys n’ gals. Some of ya look like your trying to make a living at this, or at least seeing how many blogs you can get the keys…
Morning Reads.
Jeff Quinton names his Guest Bloggers – congrats on making the team, guys n’ gals. Some of ya look like your trying to make a living at this, or at least seeing how many blogs you can get the keys…
Morning Reads.
Jeff Quinton names his Guest Bloggers – congrats on making the team, guys n’ gals. Some of ya look like your trying to make a living at this, or at least seeing how many blogs you can get the keys…
I wanted to link to this graph (the overall post is excellent and I will link to it) but is there further information about the breakdown of income? Personal income doesn’t matter much if the top 2% tripled their income then the graph is meaningless to the the regular folks.
But GREAT post!
You’re gonn get an instalanch….
On Global Permission To Protect America And Other Idiotic Ideas
I’m not following the post-debate news because frankly, I don’t care. But I’ll assume the role of clearinghouse to keep those who’re interested in the latest developments informed. Bloggers, the big boys and others, are covering post-debate polls a…
More info:
Weekly unemployment claims: http://blog.simmins.org/2004/09/unemployment-weekly-claims.html
Comparative poverty rates: http://blog.simmins.org/2004/09/poverty-rate-update.html
Poverty in America: http://blog.simmins.org/2004/08/poverty-in-america.html
Black unemployment: http://blog.simmins.org/2004/09/black-unemployment.html
M/T=N/E
I’m sure I skimped on the logical symbols up there, but what I’m trying to say is that map is to territory as numbers are to the economy. I’m not an economist, but I’ve spent a lot of time interacting…
Aaron,
It doesn’t matter who initially earns the income. It’s not as if the rich bury their cash in the backyard near the cabana. They either spend it, this is part of what is called the “trickle down effect,” or they invest it which in the minds of some is simply spending in another form or it goes into savings which allows banks to loan it to others. Loaning of money leads to the multiplier effect. An unmitigated good thing. So relax, go sit in the hot tub, have a little white wine and enjoy the good news.
Doubly great news — for America, and also maybe as a policy prescription for the World Bank.
Even when the rich own more houses, they usually rent instead of live in them (maybe Kerry’s other 3 mansions are exceptions?); more housing to rent means lower rents. More houses to buy means lower house prices.
If the World Bank oriented ALL of its support to private home ownership in the developing world, especially Latin America for now, the world would be doing much better than it is.
The “regular” folk seldom have much more in assets than their house. House owners ARE middle class. The world needs more house owners.
Thanks for fine post.
I see your charts and I am reminded of this.
Extend the graphs back a bit and you’ll see that these last few years are some of the worst in recent years.
Well, Adam, if you’re looking to add perspective, you’d have to view the U.S. economy’s performance — which has bested Europe’s economies since Sept 11th — in light of (and despite) the bursting of the 90′s stock market bubble, the massive corporate scandals which had accompanied the 90′s bubble, the impact and riple effects of September 11th, and the burdens of prosecuting of a global war.
Not bad — in fact, astonishing — to have a world-beating economy under these circumstances. Greenspan and Bush get credit for wise stewardship. But the American worker and the resiliance and resourcefulness of the U.S. economy really deserve the accolades.
Bush economy boom. (Alpha Patriot)
Bush economy boom. (Alpha Patriot)
Actually, from Sept. 12, 2001, and on, the rich WERE burying their money behind the cabana, and it isn’t until recently that they have started to loosen their purse strings. Just ask Mrs. Heinz-Kerry why her fingernails are so dirty.