As Ashby noted yesterday, the Dow topped 14,000 for the first time since 2007 yesterday, and it’s a pretty big deal. Remember on Thursday when CNBC’s Rick Santelli was screaming about how we’ve become Europe? Yeah okay.
Imagine for a moment if the Dow was half of today’s closing. If we were looking at Dow 7,000, the Republicans — especially Fox News Channel and the constantly apoplectic spazzy white guys on CNBC — would be screeching about The Obama Bear Market. IEEEE! But no one’s ballyhooing The Obama Bull Market. Least of all Fox News. Interesting how that works.
By the way, how do I know that Fox News would call it “The Obama Bear Market?” Because they already have. Four years ago.