Wednesday, January 31, 2007

Bush's Bull Market

On a day when the GDP report came in strong, and the Federal Reserve backed off a bit from its inflation worries to proclaim a balanced economy with growth and contained prices, President George W. Bush became only the 2nd sitting American president to visit the floor of the New York Stock Exchange.

As he moved from trading post to trading post, all the floor brokers and their assistants stopped work and started cheering and applauding.

And I mean loud applause and huge cheers.

This is a guy the mainstream media just loves to kick around. This is a guy still battling it out over Iraqi freedom, but subject to sinking polls.

But this is a guy with more character and more faith than almost anyone else in public life.

The last time he was in downtown New York was just after September 11th, when everything was devastated, including the NYSE. Now, more than five years later, Mr. Bush went back to downtown New York with a record-breaking stock market and a strong economic recovery.

That’s why there was loud cheering and strong applause.