Today's economy: greatest tale never told
October 20, 2006
It's become the greatest tale never told, the best-kept secret in America today...

With today’s economy, if the current president’s last name were Clinton or Kerry, we'd already be coining money with his face on it.

Autumn has ushered in a historic month on Wall St. The Dow Jones Industrial Average broke an all-time record high, and it has been posting unprecedented numbers almost on a daily basis. Meanwhile, the Standard & Poor's (S&P) 500 is closing in on its own all-time record.

So what does all this mean?

The Dow is a market index containing 30 of the largest public American companies, and the S&P hosts 500 of the most widely-held ones. These indices act as a barometer for the overall economy and provide us with a good snapshot of it.

But talk to the average Joe 6-pack on the street, and you’ll probably hear all about the ‘happy-go-lucky’, ‘worry-free’ 1990s. In reality, the 90s economy was a shaky house of cards; things appeared robust, but beneath surface, nothing of any substance supported the economy. Hence the stock market crash of 2000. The quasi-bull market of the 90s was nothing more than a fleeting tech market bubble (i.e. here today, gone tomorrow dot-com stocks) driven by rampant corporate fraud (i.e. Enron, General Electric, WorldCom, etc.) that forged their earnings, creating an economic mirage.

Now, setting aside all biases, consider some of the other bull market indicators:

No matter which way it's sliced, the economy is alive and bitchin’.

All this good news stands impressively enough by itself; however, consider all that has been thrown at U.S. economy over the past six years:

With regards to the upcoming midterm elections, historically speaking, a strong economy favors the incumbent party. Add it up to vote for whomever, but know the facts.

It's the greatest tale never told, and it's high time people start talking about it.

Commentary by Alex J. Fletcher
Springfield, MO

Go Back


You are currently not logged in. If you wish to post a comment, please first log in.

 ThreadAuthorViewsRepliesLast Post Date

No comments yet.