Sunday, May 07, 2006

A Booming Economy - The Untold Story

As it turns out, the American economy is doing FAR better now than it did during the Clinton years. This is largely because it's much more stable than the economy of the 1990's Dot Com era. Friday there were 138,000 payroll jobs created in the U.S. in April (below expectations) and the number of jobs created in February and March was reduced. Overall, the economy has created over 5.1 million new jobs since 2003.

But, the decreased job numbers led to a big rally on Wall Street because a possible slowing economic picture would likely keep the Federal Reserve from raising interest rates. In fact, the Dow is on track to break it's August 14, 2000 record high of 11,722.98 possibly this month.

However, when that happens, don't expect the drive-by media to make much of a fuss about the Clinton-era record being broken. After all, have you heard about how well our economy is doing so from anyone in the DBM so far?

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