Thursday, April 10, 2003

Many people woke up this morning happy in the belief that the war in Iraq is essentially over. I hope that it is and perhaps the worst is over, but the nasty aftermath is possibly just beginning. Since the big statue of Saddam was pulled down in the center of Baghdad, there have been more military casualties in a firefight near a mosque, another suicide bombing that injured at least four soldiers and the assassination of a pro-Western Shiite cleric who had just returned from exhile.
The stock market welcomed the news of the fall of Saddam's empire by plummeting another 100 points. Does this bode ill for the big bull market that the administration is counting on to rejuvenate the economy after the war is over?
Michael Kinsley (my favorite columnist) has another excellent article today titled Unsettled - Victory in the war is not victory in the argument about the war. A sentiment with which I fully agree.

The Wall Street Journal has an interesting article today comparing George W.'s presidency at this stage with that of his father.
At this point in Bush the Elder's presidency his job approval was at 81 percent.
George W. is at 66 percent.

George the Elder could take credit for the creation of 1.3 million jobs at that point in his presidency.
George W. has so far presided over the loss of 2 million jobs.

The Dow Jones Industrial Average was up 28.5 percent during the first 26 months of Bush the Elder.
The Dow is down 22.6 percent so far under George W.'s stewardship.

George the Elder saw an increase of 2 million Americans without health insurance.
George W. has seen an increase of 1.4 million Americans without health insurance.

Oh, and they had both claimed big victories in Middle Eastern war campaigns.
I can't help but think that Bush Jr. is in a pretty poor position at this point to ever get elected. Good thing he still has the Supreme Court on his side. Maybe they will just cancel the elections altogether.

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