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Politics : PRESIDENT GEORGE W. BUSH -- Ignore unavailable to you. Want to Upgrade?

To: Doug R who wrote (432451)	7/24/2003 1:13:04 AM
From: tejek	Respond to of 769670

I think the market rally was due to the ending of the Iraq war and the belief that maybe the economy was ready to recover. Many Rep. economists now claim that the sideways movement we've seen during the past two months suggests that the markets are uncomfortable with the neocon implosion and the Dem. ascendency. My take is that valuations are too high and a correction is in the offing. Its also not clear that the economy truly is recovering. Furthermore, I don't know how we can have a healthy expansion with oil at $30 per barrel and nat. gas at $5. The recovery would be too inflationary. It doesn't help that the entire country is in a big mess. I don't know of one region that is doing well. The implosion of state budgets coupled with the rising fed. deficits has me worried. Things don't 'feel' right and sometimes, public perception is more important than the facts IMO.