Friday, November 05, 2004

Economy Roars, Market Soars

In the 2 1/2 days since John Kerry conceded the presidential race on Wednesday, the Dow Jones Industrial Average is up roughly 350 points, or 3.5%. Given the close nature of the presidential race, the equity markets have been stuck in a holding pattern for months. Now that Bush has emerged as the clear winner, the equity markets are now responding to recent economic growth and, more importantly, expected growth in Bush's 2nd term.

In related news, the Department of Labor issued the first employment report since Bush's victory. The report stated that 337,000 new jobs were created in October. This figure widely exceeded expectations of economists, who were projecting a gain of 175,000 jobs. Further proof that the policies of the Bush administration are indeed providing the catalyst our economy needs.

In total, 1,982,000 jobs have been created in the first 10 months of this year.

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