Laughing out loud at the moment...Diane's face says it all for the leftists.

Cry me a river!

Ms. Hobson has had a fortunate career. She was not educated as an economist (BA in International Relations) nor does she have an MBA or for that matter any post-grad degree. Her career is based on her experience since college at Ariel Capital Management which is an African American investment firm. I had mentioned in previous posts that every major corporation has an African American on their Board of Directors and Ms. Hobson has positioned herself as a high profile person for such positions.

So as far as her credentials to make an intricate economic prediction she is unfit and her comments  can only be viewed as politically driven.

Diane Sawyer - a bull market is bad when, like in the late 90's under the greedy watch of Bill Clinton, the market was.. as they say, in the throes of "irrational exuberance."

When you have such a market fueled by the massive Corporate Mergers ( gobbling up the little guys), and by venture capitalism gone mad. When the markets are overvalued by some $8-10 Trillion dollars - that's 4-5 times the entire gross domestic product of the US at the time..

When media loved darling progressive economists, like Dean Baker of CEPR are writing:

"As a result, millions of families have seen their dreams of a secure retirement or their children's college education vanish with the stock market bubble...  the nation's political leaders [Clinton] chose to ignore the stock market bubble" -- and "as a result, millions of families have seen their dreams of a secure retirement or their children's college education vanish."

and: The level of negligence of the nation's political leaders in ignoring the stock bubble exceeds anything since the days of Herbert Hoover." in the "Stock Market Bubble."

When even radical leftist columnist, Robert Scheer, can write (June, 2000 - mind you):

Bulls Run Riot Over the Unemployed
By Robert Scheer
Published June 6, 2000 in the Los Angeles Times
 
What great news last week--116,000 people, mostly black, Latino and poor, lost their jobs. The stock market boomed in appreciation, and a few new NASDAQ billionaires and many more millionaires were anointed. .... [you did get angry about these poor minorities getting laid off under Pres. Clinton, Ms. Sawyer, did you not?]

When it becomes obvious, Ms. Sawyer, that when the bubble pops:

That millions of Americans will loose their new jobs and the health insurance that came with that job.

That the massive corporate corruption and accounting fraud that helped fuel it, would be exposed.

That when, upon it's inevitable collapse, all of the baloney talk of "budget surpluses as far as the eye can see," would immediately turn into massive deficits as far as the eye can see, as hundreds of billions of dollars, annually, in expected tax revenues would disappear overnight, thrusting the country deep into the red. 

When you see those things, Ms. Sawyer, you can worry. But you don't have to. You see, Bill Clinton is no longer in the White House - and we're back on track.

Can't you see?  If the stock market keeps going up, then all sorts of bad things could happen:

1) There would be less need for welfare - people might actually vote Republican!

2) More people will plow their newfound wealth into bigger cars or even, God forbid, SUVs, causing even more GLOBAL WARMING!

What other bad things can result from an improving stock market?

JFK and Reagan proved it before Bush, lower taxes work.

Today, in the midst of a war, with high energy prices, and a growing population our economy is soaring. Housing is unstoppable. We untaxed our way out of problems and into prosperity.

What could possibly be accomplished by putting our country at risk by a cut and, realizing today Iran is bribing Iraq Parliament officials, and knowing the war funds would be spent on government projects? Where did Clinton fund his success?

Speaking of that administration, how high was too high?

JDW

News media: Scoreboard for terrorists

If you are going to whine about spelling... get a life