I have long believed that stock markets are the best barometer of the health, wealth and security of a nation. And today’s stock market message is an unmistakable vote of confidence for the president.Krugman then posts the following graph showing the recent trends of the Dow:
However, it seems to me that Krugman is working against himself, for if the Dow in 2007 was not predicting the meltdown of 2008, then why should we believe it today as a predictor of the future, given President Barack Obama's policies? Krugman cannot have it both ways, but, alas, that is what he wants.
Now, Kudlow hardly is credible, in my view, for he publicly disagreed with Peter Schiff a few years ago, and he DID tell the Fed in about 2003 to "pour it on," meaning that it should print money like mad, which it did. We saw the results.