Monday, January 09, 2006

DOW Breaks 11000!

[Contrary to popular belief, I don’t publish everything that comes into my damn-fool head. Some things I wait on to check a reference, or hold because I think might appear mean-spirited, or just have to wait for events to unfold.

That last is the case here. A while back, when the DOW was continually diving towards the ten thousand mark, I tracked it and mocked it. And now that it has regained some of its lost ground, it is only fair for me to note that as well. Here’s what I wrote in preparation at the time, and if the details seems a little moldy and the predictions a bit out of date, please forgive.

So the DOW, to no one’s surprise, surged above 11000 today, capping a long and sustained rally. And with that milestone I have to flat-out admit I was wrong. When the current administration stated that it would “run government like a business”, I tightly gripped the seat of my chair and braced myself for the worst. Totally through years of watching business in action (yes, count it as two words). I expected bureaucracy, cronyism, favoritism, and the exploitation of the have-lesses by the have-mores.

And I was wrong. I have to admit it. Careful planning that put the “serve” in Conservatism has resulted in a rebound boom that in well on its way to erasing the popping of the dot-com bubble, and resulted in an economy that is strong across a variety of sectors, without either the dangers of unemployment or speculation ‘bubbles’.

Similarly, when accusations of corruption arose within the administration or within the party (as often happens whenever large sums of government money are involved), rather than fall back on Nixonian excuses and subterfuge, the present team came forward, identified the offenders, and turned them out until a full, nonpartisan hearing was held. Rather than reflecting badly on the party, it sent the message home that they were running a clean shop, literally a new broom.

Indeed, the care and consideration of this administration shows the concepts of the “best and brightest”, not only in economics but in foreign policy. Well-equipped forces of a broad-based coalition conducted a campaign in Iraq with clear goals and were welcomed as heroes. While we had to prove Saddam’s thrice-reported death with DNA evidence (flown to the scene expressly for that purpose), the sight of Osama Bin Laden, chained and turned over to the World Court, will remain a high point of 21st Century law.

And while, as a lefty liberal, I can growl and moan about the details (Hilary Clinton to the Supreme Court? Talk about stealing the left’s thunder!), I have no other choice, but to admit that this administration is paying attention to details and keeping their eye on the ball. They are all about good government, and they are now reaping the rewards with strong economic growth that will carry them effortlessly through the next election. While the Dems scramble for any topic to challenge this juggernaut, I have to admit that we are looking at a Reagan-era landslide that will validate the previous questionable election. There will be a clear mandate next year in 2004, because you can argue politics all you want, but you can’t argue with results.

More later,