Thursday, January 11, 2007

A Vote of Confidence

Amidst the expected chorus of pundit pessimism about the President’s new Iraq initiative, world financial markets are voting for Bush—not against him.

Yesterday, before the speech, stocks went up, while oil and gold both went down.

Today, when trading opened after the speech, stocks went up and oil and gold went down.

All three are political and war risk barometers. It’s a very important vote of confidence for Mr. Bush.