Posted by: Scott | Tuesday, July 17, 2007

Dow, Blog, Perform Better than Expected

In just under five years, the Dow has nearly doubled. Today, Rush Limbaugh enlightened his listeners about the fact that in Oct. of 2002, the Dow bottomed out just below the 7,200 mark. Although the Dow just missed closing at the 14,000 mark that it attained to early this morning, it should be safe to say the economy is on track, regardless of the experts saying that there are a number of worrisome things going on. However, for the past several months, the experts have been shocked that the economy is doing so well. Today’s closure just above the 13-9 mark (13,900 for those of you that are wondering what I mean) is still a record high that is part of the current upward trend in the stock market.

CNBC’s Erin Burnett reported some seldom-noted economic info on the Today Show:

You know, it’s an amazing thing here. We’re looking at the Dow Jones Industrial Average, up 30% over the past six months, 30 days this year alone we have had record closes for that index. So it’s really another day, another record on Wall Street. It’s also worth noting that while politicians talk about two Americas, virtually all Americans are seeing wages rise and unemployment is at a historic low. The issue of taxes is important here. The top 1% of Americans pay 30% of taxes in this country. The bottom 20% of American wage earners pay only 5%.

Outside of talk radio sources like Rush Limbaugh, figures like this have seldom been noted.

In other numerical news, the Political Cowboy blog has nearly reached the 25K threshold! This would be just over doubling the page loads in less than a year. One reader from Emblem, WY anonymously noted that while he/she was not necessarily looking for anything great here, he/she found the Political Cowboy to be better than expected. A number of the 26,000-plus spammers tended to agree with the Emblem reader.

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