Triumphant Goldilocks

The big theme in today’s Dow crossing the 14,000 threshold for the first time is one of unprecedented global economic growth and a worldwide stock market boom.

Simply put, this is the greatest global stock market boom in history.

What we are witnessing here, in virtually every corner of the globe, is the success and the spread of unbridled free market capitalism. It is a dynamic worldwide march toward lower tax rates, deregulation, and, as market strategist Don Luskin put it on last night’s show, the “interconnectedness” of global economies through free trade, the free flow of capital, and the robust free exchange of information.

Despite the persistent doom and gloom refrain from various sourpuss prognosticators, it remains the greatest story never told.

And it's not over yet.

This Goldilocks stock market and economy is celebrating her one-year anniversary in a remarkable bull market run that began last July. Since last summer, the Dow is up over 30 percent; Europe is up 40 percent; Japan is up 18 percent; and the BRIC (Brazil, Russia, India, China) index is up a mind blowing 64 percent.

That’s called global prosperity.

Here in the U.S., we’re getting a welcome speedup in the economy with profits and cash flow shares at record highs.

And what’s more, this global stock market boom signifies a major defeat for al Qaeda and all the terrorist jihadists who seek to destroy capitalism and our way of life. The spread of prosperity across the globe cannot tell a lie: The terrorists are on the wrong side, they are on the losing side, and their side will be defeated. Freedom and capitalism are moving full steam ahead. It will ultimately crush the evil, totalitarian jihadists.

Despite all the criticism President Bush has received over his administration’s Iraq war policies, the stock market has been booming throughout the whole period from early 2003 onward. Markets are giving Bush’s steadfastness in the battle of Iraq and the world terror war a big thumbs up vote of confidence.

Bottom line? Free market capitalism—it’s still the best path to prosperity.