Friday :: Jan 20, 2006

Bush Talks Up Economy, Dow Falls Over 200 Points

by Steve

On the morning that the White House sent out its spinmeisters to talk up the Bush economy, Wall Street tumbled more than 200 points today, giving up all the gains so far in 2006.

Wall Street tumbled Friday, with the Dow Jones industrial posting a triple-digit loss and dipping into negative ground for the year, as investors were spooked by lackluster earnings from General Electric Co. and Citigroup Co. — both Dow Jones industrials — and surging energy prices.

Oil shot past $68 a barrel today. Consumer confidence went up in early January, but before this recent spike in oil prices. Hey, but Halliburton went up nearly five percent today.

Gee, the White House goes into full-court press mode today on the economy, and the stock market votes with its wallets. I can’t wait to see what happens now when the White House launches its offensive in support of its NSA spying. I'm sure it will be effective, because Karl "I outed a CIA agent" Rove said the GOP will run on national security and the war on terrorism again this fall. And we know how well the GOP has done on national security, right? Why yesterday, Mr. "Dead or Alive" spoke up, when he should have been dead by now. And now today, al-Zawahiri made another tape, when he should be dead by now. I'm sure the GOP will have a solid platform to talk about terrorism this fall, in an effort to avoid talking about Abramoff, oil prices, Iraq, ....

Steve :: 1:28 PM :: Comments (20) :: TrackBack (0) :: Digg It!