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Friday, April 15, 2005

One thing Bush needs to add to his privatizing spiel..

I believe aWol normally tells his hand-picked audiences that the stock market has generally outperformed bonds or bank deposits. What he leaves out is: "That is, when I'm not the president."

Here's the S&P 500 since 1971. Admittedly, the peak occurs slightly before Bush's appointment, but over four years later the S&P is down about 150 points.

The market seems to be in panic mode today, even though oil prices are down from a couple of weeks ago and the dollar has been pretty steady for a few weeks. The Dow's down 150 at this moment.