October 17, 2006

ANOTHER RECORD HIGH FOR THE DOW yesterday: “Recent company comments and government data have underscored the notion that the U.S. economy is stronger than expected, heading into the end of the year, and that companies will post another quarter of double-digit earnings growth.”

So, is it the economy, stupid? This election will be a test.

UPDATE: Eric Ashley emails:

Its not “the economy stupid” because the MSM gets to change the standards by which they, and in consequence, a lot of people judge events and leaders. Its somewhat like the hour eye-care place where the doc flips through various lenses asking “is this one better, or this one?” until he finds the ones that makes his “EIMG” chart look good.

The difference is the doc’s definition of looking good is clarity. The MSM’s is prettiness of the chart aka ‘voting Democratic’.

And Bart Halls says it didn’t get much on NPR:

A yawn. Didn’t even mention it. “Dow Jones industrials closed up about 20 points.” Nothing to see here. Move along.

I recall back in late ’99 and early ’00 they were crowing about it every single time. Then again, there was a Democrat in the White House. That sort of self-deception is one reason the left are repeatedly disappointed by their electoral results.

Yes, it does seem to me that the economy during the tech bubble got a lot more positive attention.

ANOTHER UPDATE: Reader Duane Simpson blames Bush!

We can’t really blame the press for ignoring the economy, the Administration is just as responsible. “It’s the Economy Stupid” was a quote from Carville to remind Clinton and Co. to constantly talk about the economy. Bush and all of the Republican candidates for office need to be talking economy all of the time if they expect to get any credit for it.

Advice to Karl Rove: Here’s your story hook — get the press to cover the Bush Administration’s failure to talk about how good the economy is! There’s an angle they’ll buy . . . .

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