US News & World Report out of touch with economic reality

[ochazuke]

Last week, their cover declared that we are in an economic boom time. This week, a headline declares that the stock market is a sure bet this year because it's an election year. A chart shows how often the market is up in presidential election years. The chart shows that both the Dow and S&P were up in 2000. In fact they were down, and the NASDAQ was way down.

I have never seen such a disconnect with reality in a major newsweekly.

If we end the year in a recession and a down market, I wonder if they'll remember what they wrote?

[ramapo]

1. They've always been Repub cheerleaders

My dad had a subscription back during the Vietnam era.

I was a nerdy kid and I read it each week. It seems every issue had a military or political official proclaiming "Light at the end of the tunnel". A favorite Nixon phrase...

[bobbieinok]

2. It was in the 50s too

In hr hi social studies, we had to turn in reports on each unit. I loved the charts that some of the kids found in US News and World Report.

My folks subscribed to lots of magazines, so they agreed to my plea/demand that we get US News.

It was only some years later that I realized/remember how republican it was.

[number6]

3. US News & World Report out of touch with all reality

;)

[zbdent]

4. This is why I started entering the Dow / NASDAQ numbers

into my home PC.

I even went to the library and was going back through the microfiche copies of papers to get the historical #s.

I found the NASDAQ history website, got all their numbers.

Found a book which had the historical Dow numbers, clear to the beginning.

Took a lot of time, and entry, but now I have the history back as far as the Dow went.

I also remember telling my mother in 1996, who had just placed the insurance money into the market (from my father's passing), that the market was being indecisive until the country figures out who's going to run it.

After it became clear that Clinton was going to remain Pres, the market continued its steady climb.

In 2000, the market was again cautious. In December, while we were having a daily battle between Gore and Bush, the markets were fluctuating. Freepermaniacs were screaming "Look what Al Gore is doing to the Market! When he wins an argument, the market tanks. When Bush wins an argument, the market soars!" (I even have this from the freepermania website!) Once the market tanked after realizing that Bush was going to run it, the freepers got their usual amnesia.

In fact, the market was worse off after recovering from 9/11 (months later) than it was right after the towers collapsed.

My theory is that, right now, to re-Select W, and get their business asses kissed, the moneyholders are creating yet another bubble, until Bush gets "popular" again, with the war and the "economy". As soon as the declaration is made, the economy is going to megasuck, since W doesn't have to worry about re-selection.

God, we need anybody but Bush!

[mrdmk]

5. That was a lot of work you did with the market

Can make those numbers public or give us a link to help us find those numbers please?