Posted 10:22 AM by Steve
Bush economic policies seem to be doing the trick!

Consumer Confidence Strengthens in Jan.

1 hour ago

By ADAM GELLER, AP Business Writer

NEW YORK - Consumer confidence strengthened in January, rising to its highest level since mid-2002, an industry group reported Tuesday.

The Conference Board said its consumer confidence index rose to 96.8, following a dip in December to a revised reading of 91.7.

The rise in the index, while sizable, was smaller than the expectations of analysts, who had forecast a reading of 99.0. The index was last this high in July 2002 when it reached 97.4.

"Growing optimism about the overall health of the economy continues to bolster consumers' short-term outlook," said Lynn Franco, research director for the New York-based group. "But consumers' assessment of current conditions, which strongly hinges on improvements in the labor market, remains both weak and volatile."

The confidence reading is followed closely because consumer spending accounts for two-thirds of the economy. Consumers who feel more upbeat about the economy are likely to spend more, while those who remain pessimistic may curb their purchases.

Analysts called the January rise in the confidence measure encouraging, showing consumers see substantial evidence of economic improvement.

"They know things are getting better. They see it all around them," said Joel Naroff of Naroff Economic Advisors in Holland, Pa. "Jobs are becoming more plentiful, but they're not as plentiful as they'd like them to be. That's the only thing at issue here."

The result is a gulf between consumer perceptions of the present and the future. That is not unusual, but is more typical of turning points in the economy rather than the current state, where most measures show an economy that is expanding robustly, Naroff said.

The Conference Board's monthly index reflects consumer perceptions of the current economy as well as their outlook for the next six months.

In January, a sub-index measuring consumers' assessment of current conditions rose to 80.0 from 74.3 in December. Those describing the present business climate as good rose to 22.0 percent, up from 18.6 percent in the previous month.

But that was tempered by lingering doubts about jobs. Those who said jobs are hard to get declined to 31.4 percent from 32.4 percent. But the number who said jobs are plentiful slipped to 12.4 percent from 12.6 percent.

At the same time, Americans are increasingly optimistic in their expectations for the economy over the next six months. The gauge measuring outlook rose to 108.1 in January, up from 103.3 in December.

Those who say business conditions are likely to improve in the next half year rose to 27.8 percent from 26.7 percent. The number who expect conditions to worsen declined to 6.5 percent from 8.1 percent.

The outlook on the job market also improved, with those who expect more jobs in the next six months rising to 22.2 percent from 21.6 percent in December.

However, the number of consumers who expect that their own incomes will increase declined to 18.9 percent from 21.5 percent.

Stocks were lower following the release of the report. In morning trading, the Dow Jones industial average was down 26.15 to 10,676.36. The Nasdaq composite index was down 10.53 to 2,143.30. The Standard & Poor's 500 index was down 2.56 to 1,152.81.

Posted 8:46 PM by Steve
Bush economic policies proven by steadily increasing optimism in Wall Street and continued strength in the housing market


Dow Hits 31-Month High, Rises 134 Points



NEW YORK - Encouraging words from Federal Reserve Chairman Alan Greenspan sent stocks soaring Monday as investors looked forward with renewed enthusiasm to upcoming earnings reports. The Dow Jones industrials reached a new 31-month high, rising more than 130 points.

The markets got a late-day boost from Greenspan, who told an economic conference in London he was confident that jobs lost during the recent recession could be replaced. He also warned U.S. policy-makers against putting up protectionist trade barriers, saying it could be bad for the global economy.

"I think Mr. Greenspan has given us some hope," said Peter Cardillo, president and chief strategist of Global Partner Securities Inc. "He's confident there will be creation of new jobs and that was what the market wanted to hear."

The Dow gained 134.22, or 1.3 percent, to close at 10,702.51, after a weekly loss of 0.3 percent that ended eight weeks of advances. It was the index's highest finish since June 21, 2001, when it closed at 10,715.43.

The Dow is now slightly more than 1,000 points away from its all-time high close of 11,722.98, reached on Jan. 14, 2000.

The broader gauges also closed higher. Negative for much of the day, the Nasdaq composite index closed up 29.96, or 1.4 percent, at 2,153.83, after last week's 0.8 percent decline ended a six-week winning streak. The tech-heavy Nasdaq last closed higher on June 29, 2001, at 2,160.54.

The Standard & Poor's 500 index closed up 13.82, or 1.2 percent, at 1,155.37, following a weekly rise of 0.1 percent _ its ninth consecutive week of advances. It was the S&P 500's highest close since March 19, 2002, when it finished at 1,170.29.

About one-third of companies in the Standard & Poor's 500 have reported results so far, and earnings are up about 27 percent overall _ better than the 21 percent increase Wall Street had expected. That combined with upbeat economic news bodes well for the economy, but some analysts are starting to worry that the market is overbought and may be headed for a pause.

Although technology and small-cap stocks continue to keep pace, there seems to be a fundamental shift toward higher quality companies, said Joseph Keating, chief investment officer at AmSouth Asset Management.

"Our impression is that the Dow will do a little bit better in 2004 than some of the other indexes," Keating said. "The valuations are looking better, and we think people are really going to come around to appreciate that dividends are tax-advantaged. That's something that got lost in the shuffle last year."

Greenspan's comments, which did not address the outlook for the U.S. economy, came a day before the Fed was to start a two-day meeting to consider when to raise interest rates. Low inflation and slow jobs growth make it unlikely rates will rise anytime soon, economists say.

Separately Monday, the National Association of Realtors reported that sales of previously owned homes reached a new record high last year, largely fueled by attractive mortgage rages.

On the Dow, Merck & Co. closed up $1.42 at $47.20 after the financial journal Barron's noted that it trades at a lower price-to-earnings multiple than its rivals and offers a bigger dividend yield than many.

Dow component Hewlett Packard Co. rose 82 cents to close at $26.12 after rival printer maker Lexmark International Inc. beat expectations with a rise in quarterly profits on strong sales. Lexmark gained $5.66 to close at $84.50.

Aventis SA gained $2.10 to close at $75.10 after the French drug maker called on shareholders to reject a hostile takeover bid by smaller rival Sanofi-Synthelabo. The merger would have created the biggest drug company in the European market. Sanofi-Synthelabo, the maker of anti-stroke drug Plavix and the sleeping pill Ambien, closed down $2.71 at $34.30.

Drugmaker Schering-Plough Corp. closed up 33 cents at $17.85 after its earnings missed estimates, largely due to a decline in sales and a large restructuring charge. The maker of Clarinex allergy medicine reported a loss for the year _ a first since the company was formed by a 1970 merger.

Advancing issues outnumbered decliners about 5 to 4 on the New York Stock Exchange. Consolidated volume was moderate, with 1.91 billion shares traded, compared with 2.04 billion shares on Friday.

The Russell 2000 index, which tracks smaller company stocks, was up 5.36, or 0.9 percent, at 601.50.

Overseas, Japan's Nikkei stock average finished 2.8 percent higher Monday. In Europe, France's CAC-40 closed down 0.5 percent, Britain's FTSE 100 lost 0.3 percent and Germany's DAX index finished 0.6 percent lower.

Posted 12:49 AM by Steve
Let's examine the first part of President Bush's State of the Union address and highlight important points:

America this evening is a Nation called to great responsibilities. And we are rising to meet them.

This statement reinforces the strong, positive image of America put forth by great Republican leaders like Reagan and Lincoln and President Bush.

The American economy is growing stronger. The tax relief you passed is working.

As the economy continues to improve and the prospects of all Americans improve it's important to remind the public of how these events came to pass.

We can go forward with confidence and resolve -- or we can turn back to the dangerous illusion that terrorists are not plotting and outlaw regimes are no threat to us.

The President is very clear about the real dangers of the laissez faire foreign policy that characterized the previous administration. It is worth mentioning that the Clinton administration weakened the military used them as political pawns and hamstrung the intelligence community.



Our greatest responsibility is the active defense of the American people.

This strikes to the core of the difference between leftists and conservatives. Because of their philisophical and spiritual vacantness leftists generally posture as intellectual elites while deep down believing the worthlessness of man. After all, if you believe man is merely a collection of chemical compounds or the eventual product of some mutated ameoba or even just a close relative of a chimp, how much can you really value human life? Because science is the only refuge of the left and because science is an unforgiving master, superstition, nonsensical beliefs (like astrology) or emotionalism usually fills the void. This does not bode well for public policy.

While claiming to devote itself to human rights, leftist "causes" have been the most horrific movements in human history. Over 100,000,000 men, women and children were killed in the 20th century alone by leftist collectivist schemes.

While championing "civil rights", leftists have created a sharp divide between races as a way of maintaining voting control and preventing minorities from assimilating successful cultural strategies.

Again, the "rights" mantra from the left rings hollow when you consider they have consistently eroded economic rights since 1776.



Tune in for more examination of the President's State of the Union.

Posted 11:01 PM by Steve
David Kay's recent comments, as usual, have been blown out of proportion by the liberal media desperate to inject some drama into a laughably one sided Presidential campaign.

The single most important comment made by Kay is the ezact comment you won't see in the headlines or in the clip on your TV station.

" (Iraq) did try to restart its nuclear weapons program in 2000 and 2001."

WMD programs anyone?