Monday, January 02, 2006

How has Bush failed, let me count the ways...

I remember, going into the election in 2004, that it looked like Bush would be the first US President since Herbert Hoover to complete a term with no net-new jobs. Supporters of his would argue that the economy was strong nevertheless, and I would counter with the argument that the benefits were going to those already at the top and that real wages for the majority were falling. Higher profits and stock prices did little for those without equity in the markets. However, it seems that Bush's "Anus Touch"* also applies to the Dow-Jones Index. Steve Benn says:


"The Dow ended 2005 lower than when it started 12 months ago.

In fact, while it was the 0.6% decline for the year that generated headlines, most seem to have overlooked the fact that on the day Bush was sworn into office in January 2001, the Dow Jones stood at 10,732.46. As of now, it's at 10,717.50.

In other words, after five years of Bush's presidency, the stock market has a cumulative gain of negative 15 points.

Under Reagan, the Dow went up 148%. Under Clinton, it grew 187%. After five years, Bush isn't quite breaking even."


* unlike the Midas Touch, where everything that was touched turned to gold, the Anus Touch manifests itself when everything he touches turns to pooh-pooh.

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